Worldcoin’s Price Corrects by 20% as Top AI Tokens Experience Dip
Worldcoin, the identification project co-founded by OpenAI CEO Sam Altman, saw a 20% correction in its price, dropping from a high of nearly $8 to as low as $6.26. This correction is in line with the wider market trend among AI-focused tokens, which experienced a 4.73% dip in market capitalization over the past 24 hours, resulting in a total market cap of $33 billion.
Wider Correction Among AI Tokens
The correction in Worldcoin’s price reflects the broader market trend observed among AI-focused tokens. Among the top six AI cryptocurrencies listed on Crypto.com, up to five tokens experienced a drop of 6-7%. These include Internet Computer (ICP), NEAR Protocol (NEAR), Injective (INJ), The Graph (GRT), and Theta Network (THETA).
Worldcoin’s Surge and Sora
Previously, Worldcoin experienced a significant surge of 170% in its value within a week. This surge was fueled by the introduction of OpenAI’s video creation model, Sora. Worldcoin’s price reached $6.83, up from $2.5, and its market cap rose to nearly $900 million.
The surge in user engagement with Worldcoin’s World App, surpassing one million daily active users, coincided with the attention on OpenAI’s new innovation and AI technologies.
Sora and Text-to-Video Model
The introduction of Sora, OpenAI’s text-to-video model that allows the creation of detailed videos up to 60 seconds long, generated interest in Worldcoin. However, access to Sora is currently limited to a select number of creators, showcasing its advanced video-generating capabilities.
Hot Take: Worldcoin Faces Correction Amidst AI Token Dip
While Worldcoin experienced a correction in its price, it is important to note that this is part of a broader market trend among AI-focused tokens. The surge in Worldcoin’s value and user engagement reflects the growing interest in OpenAI’s innovations and AI technologies. As the crypto market continues to evolve, it is essential to stay informed about these developments and their impact on different tokens and projects.
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