Worldcoin Token (WLD) Surges Amidst Record User Growth But There’s A Catch

February 19, 2024

In the past week, Worldcoin, a cryptocurrency project co-founded by OpenAI CEO Sam Altman, has witnessed a remarkable surge in its native token (WLD), experiencing a staggering 190% increase in value over the last 7 days and a remarkable 40% surge in just 24 hours. 

This surge coincides with the achievement of a significant milestone for the project: surpassing 1 million daily active users for its crypto wallet application.

According to reports shared by Worldcoin on X, the number of World APP users surpassed the 1 million mark this Sunday, setting a new record for the project. Concurrently, the native token, WLD, reached an all-time high of $7.63, fueled by the recent surge in user activity.

The enthusiasm surrounding the AI-based Worldcoin project and its token, WLD, has been further amplified by Sam Altman’s recent disclosure of Sora, a text-to-video platform, which has also experienced rapid gains in recent times.

Alameda Research Holdings Raises Concerns About WorldCoin WLD

However, amidst the excitement surrounding the surge of the Worldcoin token, concerns have been raised regarding the significant holdings of bankrupt cryptocurrency trading company Alameda Research. The company still holds 25 million WLD tokens, valued at $167 million, representing a substantial 19% of Worldcoin’s total circulating supply.

Alameda Research acquired these WLD tokens from Worldcoin on Aug 15, 2023, when the price was a mere $1.78, amounting to approximately $44.4 million. Interestingly, the company has retained possession of these tokens since then, despite the substantial increase in their value.

The surge in Worldcoin’s token value, coupled with the milestone user growth, highlights the growing interest and confidence in the project’s vision and technological innovations, despite concerns over significant token holdings by a bankrupt entity.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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About The Author

Will

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.