Worldcoin Soars 34% as New AI Model Goes Viral
Worldcoin (WLD), the crypto project led by OpenAI CEO Sam Altman, has experienced a rapid surge of 34% in the past 24 hours, reaching a trading price of $7.30. This recent increase means that Worldcoin is now 185% higher than its value a week ago.
The excitement surrounding Worldcoin was largely driven by the successful launch of its text-to-video generator called Sora, which gained popularity on social media platforms.
World App Wallet Reaches 1 Million Daily Users
- Within just one day of its launch, Worldcoin’s World App wallet reached an impressive milestone of 1 million daily active users.
Bullish Price Action and Selling Activity
An analysis of Worldcoin’s chart over the weekend reveals a bullish price action, with frequent cup-and-handle patterns indicating potential for further growth in the near future.
- However, there has been a sudden depreciation in price in the last few hours, indicating strong selling activity.
- The current Relative Strength Index (RSI) of 53 suggests that all the factors influencing the price are well-priced at this point.
- While a near-term rally to $100 is unlikely, long-term prospects still exist for Worldcoin.
A Closer Look at Worldcoin: WLD Primer
Worldcoin faced mixed reactions upon its launch due to its unique onramp process. To acquire WLD tokens, individuals must visit designated locations called “Orbs” and have their eyeball snapshots taken alongside government-issued ID verification.
The project aims to build blockchain infrastructure to provide banking services to the unbanked population and enable widespread access to technological prosperity with a privacy-first approach.
However, skepticism exists, with Ethereum creator Vitalik Buterin expressing concerns about privacy, accessibility, centralization, and security. He believes it could take years for the protocol to address these issues.
Despite the criticism, Worldcoin experienced significant growth in January, surpassing 5 million Orb signups and attracting 16,000 signups in a single day.
Alternative Altcoins with Less Invasive Approach
While Worldcoin garners attention, there are other altcoins that offer growth potential without raising privacy concerns. One such coin is Bitcoin Minetrix (BTCMTX), an Ethereum-based token.
- BTCMTX can be purchased at its current price of $0.0135 before potential price increases.
- The token leverages Ethereum smart contracts to provide an easy entry into Bitcoin cloud mining, allowing users to mine Bitcoin without specialized mining equipment.
- Investors can stake BTCMTX tokens on the platform and receive cloud mining credits (hash power) based on their stake amount. These credits increase the chances of successfully solving cryptographic puzzles and earning rewards in Bitcoin.
- The platform also rewards staking with additional BTCMTX tokens, creating two revenue streams for investors.
Hot Take: Worldcoin’s Potential and AI Model Virality
In conclusion, Worldcoin has experienced significant growth due to the success of its text-to-video generator Sora and the growing number of users on its World App wallet. While price fluctuations indicate selling activity, long-term prospects still exist for Worldcoin. Additionally, alternative altcoins like BTCMTX offer attractive opportunities for investors looking to enter the world of cryptocurrency mining with less invasive processes.
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