Worldcoin rallies 10% as World Foundation raises $135M to expand World ID network

Worldcoin has jumped 10% in the last day, riding the wave of a major $135 million raise by the World Foundation.

According to World Foundation’s official fundraising announcement on May 21, the funds will be used to expand its iris-based identity network, World ID. Leading the raise were Andreessen Horowitz and Bain Capital Crypto, who purchased Worldcoin (WLD) tokens at market value, increasing the supply of tokens in circulation.

With more than 26 million users and 12.5 million Orb-verified IDs in oved 160 countries, this institutional support lends more credibility to the project. The market has responded positively to the news. 

Trading volume is up 87% to over $508 million, while derivatives volume has exploded by 112% to $879 million. Open interest is also up 23%, now sitting at $280 million, as per Coinglass data. After months of decline, this steep increase points to a change in trader sentiment as capital moves back into WLD. However, the token is still 89% below its peak of $11.74 in March 2024.

On the technical side, Worldcoin’s price action is displaying signs of strength. After recovering from support around $1.00, it has climbed back to $1.24. The move is accompanied by strong momentum and rising volume, indicating that bulls might be regaining control. The price is trading above the short- and mid-term moving averages, which are currently trending upward, often a bullish sign.

The relative strength index is slightly above 60, indicating that there is still potential for growth without reaching an overbought level. The expanding Bollinger Bands suggest a possible breakout move. If bulls can break through the crucial resistance level, which is around $1.30, the next major barrier is near $1.38. 

On-chain fundamentals continue to be a risk as well as a strength. More WLD is now in circulation as a result of the recent token sale, which could put short-term pressure on the price. But the fact that this was not a VC dump, but rather a sale to two long-time backers at market price, changes the narrative. 

Furthermore, if Worldcoin can use the new funding to successfully scale its World ID infrastructure, especially in jurisdictions like the U.S., where digital identity regulation is tightening, it could carve out a unique niche at the intersection of AI, privacy, and identity.

If the current momentum holds, WLD might move in the $1.37–$1.50 range. A breakout above that area could result in a more pronounced rally as shorts are squeezed. However, if buyers lose interest and the token falls below $1.20, a retrace to $1.10 or even $0.95 is still possible.