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Another New Crypto in the market. What determines whether Worldcoin crypto will become an important one?


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Supply and demand is the most important determinant of cryptocurrency
This is a basic economic principle. If a cryptocurrency has a high token supply with little demand from traders and users, then the cryptocurrency’s value will drop. Conversely, if the supply of a particular cryptocurrency is limited and the demand is high, then the value of the coin will increase.
This is linked to the scarcity element that drives up prices and is one of the factors that saw the price of Bitcoin and ETH climb to its highest levels.

The media or public sentiment also has a big influence on the price of cryptocurrencies. If a token or platform gets some negative publicity let's say FTT, or the Binance/SEC issue you would generally see the price of that coin take a dip. While, if a coin were to get high-profile support and good media coverage due to team effort i.e. Bitget BGB's steady price increase from the 2023 Q1 report to date. 
This means prices are heavily influenced by human emotion and hype.

Other factors that have a big bearing on the price include the level of token utility, multiple CEXs listing i.e., how useful is the token, and the underlying blockchain platform in solving a real-world problem or reputation of listing CEX. Aside from Binance's popularity, another key factor that might attract massive adoption is the listing news of a Non-KYC regulatory compliance CEX,

Lastly Difficult would mean it is more difficult to increase the supply of the coin and cause upward pressure on the price when demand is high.

Will Worldcoin survive the test of these listed factors or will it succumb to the crypto space pressure? 

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On 24/07/2023 at 12:53, Emon said:

FTX used their native token FTT as collateral. What about BGB? 

Binance's BNB have huge usecase because of BSC(Binance Smart Chain). Can we expect the same for BGB?

Bitget has taken the initiative before hand through their proper management. Bitget declared the Merkel Tree Proof of Reserve revealing that its total reserve currently stands at $1.44 billion spread across 31 different crypto assets. Reserve ratios for Bitcoin (BTC), Tether (USDT), Ether (ETH), and USD Coin (USDC) stand at 454%, 135%, 171% and 2,604%, respectively, and  has launched various initiatives to help rebuild the market’s confidence, such as launching the USD 5 million Builders Fund for users affected by the FTX incident, increasing the Protection Fund to USD 300 million, and most recently, investing 20 million in a series of campaigns with Lionel Messi. So you can see they're different from FTX in all ways.

For the BGB you can check the price chart and see how well it has done and this is due to its usecase in launchpads, gas fee, and many more.

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On 24/07/2023 at 12:53, Emon said:

FTX used their native token FTT as collateral. What about BGB? 

Binance's BNB have huge usecase because of BSC(Binance Smart Chain). Can we expect the same for BGB?

In addition to powering the exchange's native token value by enabling its holders to enjoy many benefits like lower trading fees, voting rights, access to exclusive features, and many more, I guess the below link and chat by TokenIsight Q1 and Q2 report said all. 

https://tokeninsight.com/en/news/tokeninsight-top10-exchanges-spot-trading-volume-in-q2-2023-down-45-than-q1

img20230428035655449459d6-cd48-42dc-b3c1-ef9a0e25686e.jpg

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