Worldcoin, co-founded by OpenAI’s Sam Altman, announced its expansion to Ecuador. Woldcoin’s native coin WLD, now trading at $2.99 marking a 1.66% decrease in the last 24 hours and a 13% drop over the past week. The token has seen a 39% decline in the last 30 days, reflecting both market volatility and specific concerns about the project. Despite these setbacks, Worldcoin maintains a market cap of $744 million. 

WLD has been on a predominantly bearish trajectory since reaching its all-time high of $11.9 in early March. The token has consistently broken down key support levels, establishing a pattern of lower lows and lower highs. WLD is trading near its lower support levels, with $2.5 serving as a critical support zone. 

The Moving Average Convergence Divergence (MACD) is currently in negative territory, with the MACD line below the signal line, suggesting bearish momentum. A move into positive territory and a crossover above the signal line would indicate a potential bullish shift.

The Relative Strength Index (RSI) stands at 29, placing WLD in the oversold region. This reading typically suggests that the asset may be due for a price correction or rebound. However, caution is advised as oversold conditions can persist in strong downtrends.

Expansion into Ecuador Boosts Market Confidence

Worldcoin announced its expansion to Ecuador, resulting in a significant surge in the price of its native cryptocurrency, WLD. This move aligns with Worldcoin’s mission to create a global identity verification network, enhancing digital security and privacy.

Worldcoin’s latest initiative involves the launch of its World ID orb verifications across six locations in Ecuador, specifically in Guayaquil on June 26 and Quito on June 27. This expansion into Ecuador follows the company’s broader strategy to establish a robust presence in Latin America. Ecuador joins the ranks of Argentina, Chile, Colombia, Mexico, and Peru, where World ID verification is already available.

The introduction of World ID in Ecuador is supported by local demand for reliable human identity verification technology. A recent survey conducted by Tools for Humanity, a Worldcoin contributor, revealed that 92% of Ecuadorian respondents favor technology that can distinguish humans from bots online. This finding is consistent with sentiments in other Latin American countries, indicating a regional preference for secure digital interactions.

Worldcoin’s Expansion in Latin America

The high demand for secure digital interactions is not unique to Ecuador. In Peru, 90% of respondents support such technology, and 84% see it as essential for the future. Similar trends are observed in Colombia and Mexico, where concerns over online fraud and a preference for human-generated content are prevalent. This widespread regional consensus underpins Worldcoin’s strategy to enhance digital security and privacy across Latin America.

Worldcoin’s commitment to expanding its presence in Latin America includes significant investments, particularly in Argentina. The company plans to establish Argentina as a regional hub, with the development of World ID orb verification locations and the opening of experience stores. This strategic move aims to bolster Worldcoin’s identity verification network, ensuring secure digital interactions across the region.