Worldcoin price extends gains as World App reaches 1 million monthly users
- World App announced that it has over a million monthly active users within six months of its launch.
- Worldcoin price rallied nearly 4% over the past week and 13.77% in a month.
- WLD price gains are likely sustainable with the rising adoption of TFH’s self-custody wallet app.
Worldcoin and World App are the two projects of Tools for Humanity, co-founded by Sam Altman. The World App is a hot wallet project that has gained a large volume of active users and amassed four million downloads within months of its launch.
The demand for the app is likely to fuel the WLD price rally and the asset’s gains from the past week are likely sustainable.
Also read: Worldcoin Price Prediction: Is WLD done with uptrend after 77% rally?
World App notes massive user activity, drives bullish outlook on WLD
World App, Tools for Humanity’s self custody wallet project has noted four million downloads, 22 million transactions and over a million monthly active users.
World App now has more than 1 million monthly active users, 4 million downloads and 22 million transactions. Not bad for six months pic.twitter.com/pagXxTfc8E
— Tools For Humanity (@tfh_technology) November 1, 2023
Demand for World App has pushed the wallet to the sixth most popular wallet, according to CoinGecko. With over 100,000 daily active users and 500,000 weekly active users, the app is expected to fuel demand for the WLD token.
WLD is used to incentivise users and reward them. Higher demand for the World App is therefore likely bullish for WLD price. A recent update by the app bundles transactions and makes the app more scalable and cost efficient. This has bolstered the demand for the app further.
The app has amassed millions of users with its ease of use and scalability. Further, users are incentivised with the WLD token.
Over the past week, WLD price yielded nearly 4% gains. WLD’s price gains could therefore be sustainable.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
