As a researcher with experience in the cryptocurrency market, I find the recent surge in Worldcoin (WLD) prices intriguing. The 20% increase in just 24 hours is noteworthy, especially considering the broader context of the AI coin rally and Bitcoin’s resurgence.
As a researcher studying the cryptocurrency market, I’ve observed an intriguing development regarding Worldcoin (WLD), the native currency for Sam Altman’s iris-scanning project. In just the past 24 hours, there has been a significant surge in WLD’s value, resulting in a 20% price increase. At present, the WLD price stands at $6.24, representing a 15.3% gain from its previous mark. Moreover, this upward trend has led to an impressive rise in daily trading volumes, which have soared by over 134%, reaching an astounding $652 million.
What’s Behind the Worldcoin (WLD) Price Rally?
In the midst of rising prices for AI-related cryptocurrencies, Worldcoin (WLD) has jumped on the bandwagon. The renewed strength in Bitcoin‘s price has fueled a significant rebound across the entire cryptocurrency market. Notably, AI coins have been particularly gaining from this market upturn.
AI Tokens Are Performing The Best $FET $AGIX $OCEAN $WLD
I took advantage of the price dip and placed buy orders for all of those AI tokens. I even went ahead and wrote a thread predicting that May would be a bullish month for AI tokens.
Gave You Guys Easy 30% In 1 Week Before Everyone Starts Posting #Crypto #Altcoins
— Karan Singh Arora (@thisisksa) May 6, 2024
Last week, according to Bloomberg’s recent reports, OpenAI and Worldcoin are in the process of negotiating a partnership. If established, OpenAI would contribute AI technologies to Worldcoin within the scope of this alliance.
Should this collaboration come to fruition, it could lead to OpenAI’s sophisticated AI technologies being incorporated into Worldcoin’s offerings, thereby augmenting the capabilities of both entities. Yet, such a union might also draw heightened regulatory attention, given Altman’s significant roles in both organizations.
WLD Open Interest Jumps
According to Sentiment’s most recent data update, the open interest for WLD experienced a significant increase of approximately 21.5% within the past 24 hours. This escalation raised the total from $131.9 million to an impressive $160.3 million.
A significant jump in trading activity and the number of open contracts for Worldcoin might lead to heightened price fluctuations. This spike may be due to greater involvement from large investors, or potential margin calls in the marketplace.
In the last 24 hours, there has been a flow of 454,380 WLD coins into the Worldcoin exchange. At the same time, a greater amount of 542,360 WLD coins was taken out. This difference represents a net loss of 87,980 Worldcoins for the exchange. Despite the overall negative market sentiment towards this asset, data from the blockchain indicates that certain investors are actively purchasing and holding Worldcoin.
As a market analyst, I’ve noticed that the Relative Strength Index (RSI) for WLD, as per Santiment’s report, has risen from 40 to 54 within the last 24 hours. This signifies a slight intensification of buying activity in the asset. However, when the RSI drops below the 50 threshold, it usually signals a more stable price increase.
If this price rally continues, WLD can rally all the way further to $10 and above.
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2024-05-06 18:26