Worldcoin [WLD] nearly triples in value driven by interest in AI, reaching an all-time high of $8.59.
Despite the growth, privacy and regulatory concerns challenge Worldcoin, with active investigations in several countries.
Worldcoin [WLD], has nearly tripled in value in the past week, driven by enthusiasm generated by OpenAI’s text-to-video generation model, Sora. At the time of writing, WLD is trading at an all-time high of $8.59, according to CoinMarketCap data observed by ETHNews.
Downtrend Ends
This rally ends a long downtrend during which WLD fell 47% from its previous high of $4.2. This renewed interest in Worldcoin is also reflected in the daily usage of the World App, the wallet designed for the Worldcoin project, which surpassed 1 million users on February 18, setting a new record.
ETHNews, upon further investigation with data from Santiment, noted an increase in other blockchain indicators. Daily transactions experienced a tenfold increase in the last week, while the rate of new address creation skyrocketed 16 times.
Positive Market Sentiment
In addition, the currency became a hot topic of discussion in social circles, with a dramatic increase in the number of mentions on major social media channels. Market participants began to view WLD optimistically, as the Weighted Sentiment rose above the negative region after a long time.
Linked to the creators of disruptive AI projects, WLD has somehow become the tokenized representation of the broader AI market and emerging trends. Thus, the frenzy created by Sora soon began to be reflected in the coin’s market value.
Challenges for Sam Altman
Co-founded by OpenAI CEO Sam Altman, Worldcoin is a cryptocurrency project that seeks to become the world’s largest identity and financial network. The onboarding process involves iris scans, which, according to its creators, confirm the user’s humanity and eliminate the involvement of bots. In return, users receive free WLD tokens.
However, data privacy concerns have limited the project’s growth. Several countries have launched investigations into the project’s biometric data collection, with Kenya even suspending the token in its jurisdiction.
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