Blockchain project Worldcoin (WLD) has experienced a significant decline in user interest since its highly anticipated launch last month. According to Token Terminal, the fully diluted market cap of WLD has decreased by approximately $10 billion since its debut. The market price of the token has plummeted by over 40%, and the global number of WLD holders has plateaued with only 900 new addresses added since the beginning of August.

Additionally, Worldcoin has faced scrutiny and legal investigations due to concerns over data privacy, leading to its suspension in certain jurisdictions such as Kenya. These challenges have contributed to a pessimistic perception of the project within the market, highlighting the difficulties it currently faces.