Market

90% of Spanish Users Back Worldcoin Return

Published

6 months ago

June 6, 2024

Coin2049 Newsletter

In a recent survey, Worldcoin (WLD), a crypto project co-founded by OpenAI’s Sam Altman, reported that nearly 90% of its Spanish World ID holders support the return of its services.

The survey highlights the importance of digital proof of humanness and Worldcoin’s efforts to protect privacy and data.

Survey Highlights Spanish Users’ Trust in Worldcoin

Tools for Humanity (TFH), Worldcoin’s contributor, surveyed over 21,000 Worldcoin users in Spain in late May via World App. The survey explored users’ perceptions of Worldcoin, biometrics, proof of humanness, and data privacy protection.

Results indicate that 73% of respondents have confidence in Worldcoin’s capability to enhance internet safety. Furthermore, 82% recognize the importance of technologies like World ID for identifying humans from bots. In addition, 81% feel secure using Worldcoin, with 87% backing its continued operations in Spain.

Worldcoin's Users Overview in Spain. — Worldcoin’s Users Overview in Spain. Source: Worldcoin

Worldcoin emphasizes privacy and control, ensuring it does not track individuals but confirms they are human and unique. The project said World ID uses zero-knowledge (ZK) proofs and a sophisticated SMPC system to protect users’ iris codes. It also offers features like personal custody of information, optional data custody for AI training, and the ability to delete iris codes permanently for enhanced data control.

The blog post came after Worldcoin voluntarily suspended its operations in Spain on June 4. The decision resulted from the Spanish Data Protection Agency’s (AEPD) order to TFH to halt the collection and processing of personal data in Spain related to its Worldcoin project last March.

“Tools for Humanity, a Worldcoin contributor, voluntarily offered to extend the pause of Worldcoin orb operations in Spain. This allows BayLDA in Bavaria, the competent lead authority responsible for oversight of Worldcoin’s General Data Protection Regulation (GDPR) compliance, the time to complete its audit—a process that TFH has been fully participating in for over a year,” the company said in a letter.

According to AEPD, the cease order is a precautionary measure to protect an individual’s rights and freedoms under the GDPR. The National Court also supports the decision, emphasizing protecting personal data over the company’s interests.

“[TFH] has made a legally binding commitment not to resume its activity in Spain until the end of the year or until the BayLDA adopts a definitive resolution in relation to the data processing carried out by the company,” AEPD stated.

BayLDA, the data protection authority of Bavaria, Germany, is conducting an investigation that is expected to conclude soon with a final decision aligned with other European supervisory authorities. However, this commitment does not restrict the BayLDA or the AEPD from taking further supervisory measures if obligations are not met.

In addition to Spain and other European countries, Worldcoin faces legal challenges from other jurisdictions. BeInCrypto previously reported that Kenya has suspended Worldcoin’s operations in the region. Latin American countries, such as Argentina and Chile, have also conducted ongoing investigations into the project.

Despite international controversy, Worldcoin continues its expansion in Latin America by offering World ID verifications in Colombia. Currently, there are ten locations with orbs, six in Bogota and four in Medellin. Additionally, the project recently stated that “more orbs are coming,” indicating plans to increase the availability of these devices.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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XRP Price 25% Rally: Breaking Barriers and Surpassing Odds

Published

21 minutes ago

November 22, 2024

Coin2049 Newsletter

XRP price rallied above the $1.15 and $1.20 resistance levels. The price is up over 25% and might rise further above the $1.420 resistance.

XRP price started a fresh surge above the $1.20 resistance level.
The price is now trading above $1.250 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance at $1.1400 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is up over 25% and it seems like the bulls are not done yet.

XRP Price Eyes Steady Increase

XRP price formed a base above $1.050 and started a fresh increase. There was a move above the $1.150 and $1.20 resistance levels. It even pumped above the $1.25 level, beating Ethereum and Bitcoin in the past two sessions.

There was also a break above a key bearish trend line with resistance at $1.1400 on the hourly chart of the XRP/USD pair. A high was formed at $1.4161 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $1.0649 swing low to the $1.4161 high.

The price is now trading above $1.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.400 level. The first major resistance is near the $1.420 level. The next key resistance could be $1.450.

A clear move above the $1.450 resistance might send the price toward the $1.50 resistance. Any more gains might send the price toward the $1.550 resistance or even $1.620 in the near term. The next major hurdle for the bulls might be $1.750 or $1.80.

Are Dips Supported?

If XRP fails to clear the $1.420 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.3350 level. The next major support is near the $1.2850 level.

If there is a downside break and a close below the $1.2850 level, the price might continue to decline toward the $1.240 support or the 50% Fib retracement level of the upward move from the $1.0649 swing low to the $1.4161 high in the near term. The next major support sits near the $1.20 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $1.3350 and $1.2850.

Major Resistance Levels – $1.4000 and $1.4200.

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Market

WisdomTree Europe Launches XRP ETP

Published

1 hour ago

November 22, 2024

Coin2049 Newsletter

ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.

ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.

WisdomTree’s XRP ETP

WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.

“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.

The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.

WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.

The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.

XRP Price Spike — XRP Price Performance. Source: BeInCrypto

WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.

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Market

Rallies 10% and Targets More Upside

Published

2 hours ago

November 22, 2024

Coin2049 Newsletter

Este artículo también está disponible en español.

Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.

Ethereum started a fresh increase above the $3,220 and $3,300 levels.
The price is trading above $3,250 and the 100-hourly Simple Moving Average.
There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bullish momentum if it clears the $3,385 resistance zone.

Ethereum Price Regains Traction

Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.

The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.

Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.

The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.

Another Decline In ETH?

If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.

A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,250

Major Resistance Level – $3,385

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