Journalist
Posted:
- Daily users on the World App recently surpassed 1 million.
- The coin became a hot topic of discussion in social circles.
Biometrics-based cryptocurrency Worldcoin [WLD] nearly tripled in value over the past week on the hype around OpenAI’s ambitious text-to-video generation model, Sora.
As of this writing, WLD was trading at an all-time high (ATH) of $7.48, AMBCrypto spotted using CoinMarketCap’s data.
The rally ended an extended downtrend, during which WLD plunged 47% from its previous high of $4.2.
Source: CoinMarketCap
New-found interest for Worldcoin
Daily users on the World App, the wallet built for the Worldcoin Project, surpassed 1 million on the 18th of February, creating a new record.
AMBCrypto discovered a spike in other on-chain indicators as well after conducting further research with Santiment data.
Also, daily transactions witnessed a tenfold increase over the last week, while the rate of new address creation exploded 16x.
Source: Santiment
WLD sees positive market sentiment
Moreover, the coin became a hot topic of discussion on social circles. The number of mentions on top social media channels increased dramatically.
Market participants began to view WLD with optimism as Weighted Sentiment rose above the negative region after a long time.
Source: Santiment
Linked with creators of disruptive AI projects, WLD has, in some ways, become the token representation of the broader AI market and emerging trends.
So, the frenzy created by Sora soon started reflecting on the coin’s market value.
This remains a pressing issue
Co-founded by OpenAI CEO Sam Altman, Worldcoin is a cryptocurrency project that aims to become the world’s largest identity and financial network.
The onboarding process involves iris scans, which, as per the creators, confirms humanness and eliminates bots’ involvement. In return, users get free WLD tokens.
How much are 1,10,100 WLDs worth today?
However, concerns about data privacy have inhibited the project’s growth.
Several countries have launched investigation into the project’s biometrics data collection, with Kenya even suspending the token in its jurisdiction.
