Sam Altman’s retina-focused biometric cryptocurrency project, Worldcoin, continues to see its native token WLD rise. The increase reflects significant enthusiasm in the cryptocurrency space. WLD has exhibited extraordinary gains over the past few days, attracting major interest in the crypto world. The price increase is primarily attributed to the growing adoption of the AI project, as demonstrated by the token community at X.
Growing Project Adoption Boosts Sentiment
The Worldcoin community, in its latest announcement, highlighted a significant achievement, revealing that this week Worldcoin’s wallet, World App, has exceeded 1 million subscribers.
According to the community’s latest post on X dated February 17, World App wallet users have crossed the 1 million threshold, indicating a breakthrough storm for the Worldcoin project. This sudden leap in mass adoption coincided with the WLD price rally.
Whale Accumulation Supports the Rise
Meanwhile, a whale’s accumulation of 2.09 million WLD from a CEX led to a 25% price increase in recent days. Accordingly, a whale with the wallet address 0x0007 strategically accumulated 2.09 million WLD tokens worth $5.82 million from one of the world’s leading cryptocurrency exchanges, Binance, driving the price up over 25% this week.
The bankrupt cryptocurrency trading firm Alameda Research still holds 25 million WLD worth $167 million, which corresponds to 19% of Worldcoin’s total circulating supply. This situation has led to additional interpretations among global cryptocurrency enthusiasts.
According to SpotOnChain, these WLD tokens were purchased by Alameda on the previous year’s August 15 and have remained untouched. With prices surging extraordinarily in recent days, Alameda could unload a significant amount of WLD tokens aiming to repay creditors. In this regard, cryptocurrency market investors seem to be scrutinizing the WLD token and its on-chain metrics intensely.
Sora Optimism Increases
Sam Altman’s recent unveiling of Sora, a platform that converts text to video, further boosts optimism around the AI-based Worldcoin project’s token WLD. As seen in the numerous responses to Altman’s latest post on X about Sora, the AI platform appears to be gaining tremendous popularity even before its official launch.
While Sam Altman’s OpenAI exhibits tremendous growth and potential with the new Sora move, Sam’s AI-based project Worldcoin also seems to be creating parallels, revolutionizing according to the token community. This situation appears to be further aiding the price increase.
Bull Market Sentiments Prevail for Worldcoin
With the upcoming Bitcoin halving and expectations of an Ethereum ETF on the crypto horizon, the next stage for a crypto bull run seems to be setting up. Primarily, this dominant sentiment in the market appears to be benefiting altcoins in parallel.
Derivative data for the WLD token indicates a bullish trend in the market. Strong investor confidence seems to be further aiding Worldcoin’s price increase. Derivative data for the WLD token, showing a surprising 34.45% increase in open interest, coincides with the period of the tremendous price surge, contributing to the price increase. Lastly, at the time of writing, the WLD price has reached an all-time high of $7.67.
