Worldcoin’s New Privacy Feature May Boost WLD Prices in This Way
Journalist
- Worldcoin has introduced a new privacy feature called “Personal Custody”.
- WLD prices continue to fall as bearish sentiment increases.
The above is a blog post published on March 22nd. The Worldcoin Foundation announced a new privacy feature called “Personal Custody.”
This privacy feature allows users to take control of the information they provide to Worldcoin. A data packet is signed with the orb’s private key. It is then encrypted with a public key provided by the user and transferred to their phone.
Worldcoin is a cryptocurrency.
Since all data is encrypted using your public key as the encryption key, a collection of encrypted data packets is created that is stored exclusively on your device. Once your data has been sent to the device, it will be deleted. Using double encryption in the end-to-end encryption shell protects your privacy and confidentiality should your device be compromised.
Bears put pressure on WLD prices
According to CoinMarketCap, WLD prices have fallen by 11% in the last seven days. At press time, WLD was trading at $8.24.
A 1-day chart showed a high degree of downtrend. WLD’s Moving Average Convergence Divergence (MACD), an indicator for WLD, showed that the MACD line crossed the signal line to the downside on March 16. Since then, the price of the token has fallen by double digits.
Source: TradingView, WLD/USDT
This intersection is a signal of increasing selling pressure. This is often interpreted by traders as a signal to take short positions or reduce their holdings.
WLD’s Elder Ray index confirmed the bearish market trend. It estimates the relationship between buyers and sellers of an asset. The index returned a value of -0.6.
Read Worldcoin [WLD] price predictions for 2023-2024.
A negative Elder Ray index indicates that the bears are in control of the market and are driving prices down through their selling.
WLD’s money flow index was 38.43, below the midline. The indicator was in a downtrend at the time of publication, indicating a decline in WLD demand and an increase in sales.
