Worldcoin Surges 10% After $135 Million Fundraising Round

Worldcoin has experienced a notable surge, rising by 10% following the World Foundation's successful $135 million fundraising round. This significant investment, spearheaded by Andreessen Horowitz and Bain Capital Crypto, is earmarked for the expansion of the World ID network, an iris-based identity verification system. The funds will be utilized to bolster the network's infrastructure and extend its global footprint, with a particular emphasis on regions where digital identity regulations are becoming more rigorous.

The World Foundation's official announcement on May 21 revealed that the funds were secured through the sale of Worldcoin (WLD) tokens at market value, thereby increasing the circulating supply. This development has garnered substantial market attention and support, with over 26 million users and 12.5 million Orb-verified IDs across more than 160 countries. The backing from Andreessen Horowitz and Bain Capital Crypto lends credibility to the project, signaling confidence in its potential and future growth.

The market has responded positively to the fundraising news, with Worldcoin's price showing signs of strength. The token has recovered from support around $1.00 to climb back to $1.24, accompanied by strong momentum and rising volume. This upward movement indicates that bullish sentiment is gaining traction. The price is currently trading above both the short- and mid-term moving averages, which are trending upward—a bullish indicator.

Technical analysis suggests that Worldcoin's price action is displaying signs of strength. The relative strength index is slightly above 60, indicating that there is still potential for growth without reaching an overbought level. The expanding Bollinger Bands suggest a possible breakout move. If bulls can break through the crucial resistance level around $1.30, the next major barrier is near $1.38. However, the increased circulation of WLD tokens due to the recent sale could put short-term pressure on the price. Nevertheless, the fact that the sale was conducted at market value to long-term backers rather than a VC dump changes the narrative, potentially mitigating this risk.

The on-chain fundamentals of Worldcoin continue to be both a risk and a strength. The successful scaling of the World ID infrastructure, particularly in regions with tightening digital identity regulations, could position Worldcoin uniquely at the intersection of AI, privacy, and identity. If the current momentum holds, WLD might move within the $1.37–$1.50 range. A breakout above this area could result in a more pronounced rally as shorts are squeezed. However, if buyer interest wanes and the token falls below $1.20, a retrace to $1.10 or even $0.95 is still possible.