Bitcoin’s price dropped below $64,000 during Thursday morning trading in Hong Kong, losing nearly 5% over the day. Yet despite the slide in the broader market, a number of narrative-driven crypto assets continued to attract investor interest.
Worldcoin stands out among gainers
Worldcoin was one of the standout assets during the day’s trading session. According to data from CoinDesk, WLD soared by 33% in the past 24 hours, with its weekly gains approaching 60%. The report additionally highlighted that Arthur Hayes has set a $10 price target for this token.
Maelstrom, the family office of Arthur Hayes, argued in a recent note that Worldcoin could distinguish itself going forward. The fund noted that with market interest in AI companies on the rise and publicly traded, liquid options remaining scarce, Worldcoin might be positioned as a more accessible choice for investors.
According to Maelstrom, Worldcoin could emerge as one of the limited tools available for public market investors seeking exposure to leading AI companies.
The note referenced strong interest surrounding SpaceX’s confidential IPO filing and reports that Anthropic is preparing to go public. Due to Worldcoin’s ties with OpenAI CEO Sam Altman, Maelstrom suggested the token could serve as a liquid proxy for investors aiming to capitalize on the AI narrative.
Mini Glossary: A “liquid proxy” refers to tokens or assets that are easily tradable on exchanges and represent themes or companies that may not be directly accessible to investors. Worldcoin is seen in this light due to its digital identity and token structure.
Other tokens also shine despite market weakness
Worldcoin wasn’t the only asset defying the downward trend. Ethena’s ENA token rallied 17% in the last 24 hours, while Hyperliquid’s HYPE token rose 4%, boosting its weekly gain to over 25%.
Ondo Finance’s ONDO token also climbed 4.5%. This move signals sustained investor appetite for real world asset tokenization strategies. The sector has drawn attention as traditional financial products are increasingly being brought onto blockchain rails.
The narrative theme remains powerful
Data reveals that even as Bitcoin declines, not all corners of the crypto market are weakening in step. Projects tied to compelling narratives—particularly artificial intelligence and real-world assets—show that investor risk appetite remains focused and selective.
This suggests that despite a wider market downturn, investors are continuing to cluster around tokens tied to specific themes. In the short term, price action is likely to remain tethered to the strength of these narratives.
