TL;DR
- Worldcoin’s record surge comes following the launch of OpenAI’s latest text-to-video tool, Sora.
- While Worldcoin is unrelated to OpenAI, the recent surge suggests investors want exposure to Sam Altman’s success through WLD.
Worldcoin Price Hits an All-Time High
Sam Altman’s Worldcoin (WLD) receives renewed interest after the launch of OpenAI’s latest video tool, Sora.
Sora, the innovation in generative AI for OpenAI(ChatGPT), utilizes AI to transform written descriptions into realistic photo videos.
The Worldcoin (WLD) price surged to a new all-time high (ATH) of $7.95 on Feb.15, 2024. The same day, Altman’s firm launched the project.
As of writing, the Worldcoin token (WLD) is currently trading at $6.59. CoinGecko data reports that the coin has a fully diluted valuation of $66 billion.
The valuation is higher than the Solana blockchain. It is worth noting that the projects are entirely unrelated. However, Worldcoin is directly linked to Sam Altman—the company’s co-founder.
The developments suggest that crypto traders are seeking exposure to the OpenAI CEO. Again, other AI-related cryptos have also seen price increases following Sora’s launch.
They include Fetch AI’s FET token, which has had an uptrend of 39.9% in the previous week. Singularity Studio’s AGIX token, on the other hand, surged by 65%.
Daily Active Users Surpass 1 Million
Moreover, its daily active users reached another record-breaking milestone. On Feb 19, 2024, the World App—Worldcoin’s cryptocurrency wallet application reported over a million daily active users.
This is a tenfold increase from Nov. 2023. Unlike other altcoins whose trading prices are still low, Worldcoin has managed to pare off losses.
It sustained a bullish rally of 40% in the last 24 hours. The growth metrics are bullish in all aspects, with its trading volume surging by more than 44% to $839,309,238.
Worldcoin enters the top 10 despite ranking 79th digital currency by market capitalization.
Data reports a single wallet address recently purchased a significant amount of WLD tokens worth 5.8 million from Binance.
Market watchers viewed the whale’s purchase as a bullish signal. With the current bullish sentiment, Worldcoin has been up 180% in the last seven days and 184% in the previous month.
Worldcoin Woes and Adoption Tracks
Sam Altcoin’s coin has positive and negative track records as its exposure soared to new heights over the weekend.
The project has faced regulatory challenges and privacy concerns, especially over its iris-scanning verification method.
Regulators in key European countries, Hong Kong, Argentina, and Kenya, have mandated the halting of the verification process.
Most of them voicing privacy concerns. In Dec. 2023, Worldcoin discontinued its Orb verification program in Brazil, India and France.
Amid these challenges, the verification project slowed its tempo. With the bullish sentiments, it is evident more and more crypto traders are appreciating the coin worldwide.
This massive level of adoption aligns with Worldcoin’s goal of distributing crypto and verifying identities on a global scale.
With the whale accumulation, massive adoption milestone, and broader optimism in the market, Worldcoin may propel to greater heights.
Will Worldcoin (WLD) continue this bullish sentiment?
Suchet Salvesen
Suchet is a Norwegian economist, entrepreneur, and investor, serving as the CFO and COO of Brainfund. With over a decade of experience in global expansion, venture capital, and emerging technologies, he earned his MBA from the NMBU School of Business & Economics. He held dual bachelor's degrees from the University of South-Eastern Norway. His career spans roles at NextToMe, Get, and Conax before joining Everipedia, now Brainfund, in 2017.
