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Multicoin Capital said it bought 60 million Worldcoin (WLD) in an OTC deal with the project team, relying on the biometric identity protocol.
This deal comes at a time when the market is witnessing a decrease in the interaction of investors, since the price of the WLD coin has decreased by 21% in the past month.
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Multicoin Capital increases its investment in World Coin despite the price decline
Multicoin Capital was founded in 2017, and specializes as a research-oriented company in digital currency projects and blockchain technology. Blockchain analytics firm Loconchain spotted a large transaction involving a wallet said to be linked to Multicoin Capital (0xf0007b56607BB268efFe4126655f077F8cf42696).
Data on the blockchain showed that the address transferred 30 million USDC to the Worldcoin team a day ago. Multicoin received 60 million WLD coins, which means a direct OTC transaction with the project instead of an open market purchase.
The timing of this deal is notable, as blockchain and research data show declining interest in Worldcoin. Dion revealed that the number of new active wallet addresses has fallen sharply since September.
The slowdown in the boarding of new participants indicates weak individual demand, even as institutional investors continue to pile in. Research interest has also followed a similar path.
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Reveal Google Trends data Data Searches for “worldcoin” have dropped significantly after peaking at a point of 100 in September. This rally was largely driven by Upbit’s listing For WLD currency which also prompted The price of the symbol at that time At the top. Worldcoin has since erased those gains, as interest in the search has fallen to a 6 point at press time.
Price action reflects this decrease in momentum. According to data from BeInCrypto Markets, WLD has lost more than 21% of its value in the past month.
Record At the time of writing, the token is trading at $49,614.0, representing an increase of 2.57% in the last 24 hours. This short-term recovery comes amid a broader market recovery, with the total market value of digital currencies rising by around 0.5%.
In addition to its price performance, the project faced increasing regulatory pressure. In late November, Thai authorities ordered Project World to suspend iris-based registration activities in the country and delete biometric data collected from more than 1 million people.
This decision came after an enforcement action in October, in which officials raided one of the project’s iris scanning sites in Thailand.
Ms. Jomkwan Kongsakul, Assistant Public Prosecutor of the SEC, said that this cooperation will strengthen the effectiveness of law enforcement in the prosecution and suppression of unlicensed digital asset companies, while protecting users from the lack of legal protection and mitigating the risks of fraud and money laundering.
Add these developments to the previous challenges. In May, the project faced regulatory setbacks in Indonesia and Kenya.
