Worldcoin surges by 42%
Worldcoin (WLD) witnessed a significant surge, skyrocketing by more than 42% following key strategic developments within OpenAI.
In early March, Worldcoin faced a sharp decline, along with a broader crash in artificial intelligence (AI crypto) coins. However, the financial network, co-founded by OpenAI CEO Sam Altman, has not only recovered but has also made impressive progress.
This surge in price pushed WLD to its highest point ever, surpassing the elusive $10 mark. According to data from the crypto price tracking website CoinGecko, WLD is currently valued at $10.40, giving it a market capitalization of over $1.54 billion.
Accompanying the price jump is a 24-hour trading volume of more than $1.78 billion, a 295% increase during this period. Worldcoin has also performed well over longer periods, with a 342% increase in the past 30 days and a 35% increase in the last seven days.
Analysts attribute this increase to several factors, including the reinstatement of Sam Altman to the OpenAI board after a brief and controversial hiatus.
This decision coincided with a significant improvement in the board’s composition, as OpenAI welcomed three new members: Sue Desmond-Hellmann, former CEO of the Bill and Melinda Gates Foundation; Nicole Seligman, a seasoned executive from Sony; and Fidji Simo, known for her work at Instacart.
Market observers also credit Worldcoin’s price momentum to the anticipation surrounding the Nvidia 2024 GTC Conference and the potential unveiling of GPT 5, OpenAI’s latest generative AI model.
This new AI model is expected to blur the boundaries between human and machine intelligence, creating excitement in the tech industry.
It is worth noting that Worldcoin’s surge comes despite recent legal challenges in Spain regarding its data collection practices. Spain took action to halt the WLD initiative due to its controversial method of collecting personal data through eye scans.
The Spanish data protection authority, the AEPD, issued an order for Worldcoin to cease gathering personal data through these scans and to stop using any data that has already been collected.
Announced on March 6, this preventive measure required Worldcoin to demonstrate compliance with the order within 72 hours. Mar España Martí, the director of AEPD, emphasized the need for collective efforts within the EU on this issue, highlighting its impact on citizens across member states.
