- WLD’s price dropped to $7.35 after Spain revealed that it had placed a ban on the project.
- The bulls were defending the $6.71 support and targeting a close above $8.
- Though the EMAs indicated a bearish trend, WLD might rebound because of the trending AI narrative.
An hour after Spain revealed that it wanted Worldcoin (WLD) out of the country, the price of the cryptocurrency fell. At press time, WLD had increased by 9% in the last 24 hours. But the development which appeared on March 7, stopped the token from hitting $8 as the price dropped to $7.35.
According to Spain’s data protection authority, Worldcoin has not proven enough to show that user data was protected. For the unfamiliar, Spain is a big market for Worldcoin as over 360,000 users have had their biometrics taken while obtaining WLD tokens in return.
With the development, it might be difficult for the project to amass users in Europe. Previously, France and Germany had allayed concerns about the mission of the project. Countries like Kenya and Korea have also been investigating the firm.
However, Jannick Preiwisch, Worldcoin’s data protection officer, replied. According to Preiwisch, th…
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