Worldcoin Soars to $1B Market Cap 🚀🌍: OpenAI & NVIDIA Boost Momentum!

Worldcoin Soars to $1B Market Cap 🚀🌍: OpenAI & NVIDIA Boost Momentum!

You Could Have Made a Fortune with Worldcoin: Price Soars 336% in 10 Days

Worldcoin (WLD) has experienced an incredible surge in price, reaching an all-time high of $9 on February 22. In just 10 days, the cryptocurrency has increased by a staggering 336%. This impressive growth can be attributed to two main factors:

  • NVIDIA’s strong performance in the stock market
  • The launch of OpenAI’s SORA generative AI video rendition model

With Worldcoin now crossing the $1 billion market capitalization milestone, many are wondering if this momentum can be sustained or if it will eventually fade away.

Worldcoin Adds $840 Million Market Cap in Just 10 Days

During a frenzied 10-day period in February 2024, Worldcoin’s native token WLD saw its market capitalization increase by a staggering $840 million. The rally began on February 15 when OpenAI soft-launched its latest text-to-video AI model, SORA. Here are some key points:

  • Between February 15 and February 19, the price of WLD soared by 160%, reaching a peak of $8.
  • A wave of profit-taking caused the price to retrace to $6 on February 21 as investors focused on NVIDIA’s Q4 earnings.
  • NVIDIA reported record-breaking earnings on February 21, driving its share price to all-time highs. As a result, WLD’s price also surged, hitting an all-time high of $9 and adding another 50% to its gains in February.
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In addition to these short-term catalysts, Worldcoin has experienced increased global adoption since the beginning of the year.

Worldcoin-Funded Addresses Show Steady Growth Before the Rally

While the recent surge in Worldcoin’s price can be attributed to NVIDIA and OpenAI, on-chain data reveals that the cryptocurrency was already attracting new users before the frenzy began. Here are some key findings:

  • The number of unique addresses holding Worldcoin has steadily increased, with 3,608 new funded addresses added since the beginning of the year.
  • Despite a 50% dip in price between December 17 and February 5, Worldcoin continued to attract new investors.
  • According to data from the Worldcoin official website, 3.5 million people from 120 countries have signed up for unique World IDs.

This growth in the on-chain ecosystem is notable, considering initial concerns raised by critics regarding IRIS scanning and data harvesting.

Worldcoin Price Prediction: $10 as the Next Major Resistance

In terms of short-term price action, it is likely that Worldcoin’s price will experience a pullback below $8 in the coming days. Here are some factors to consider:

  • The upper and lower Bollinger bands are stretched to extremes, indicating that the asset has reached overbought conditions and is primed for a pullback.
  • If the $8 support is lost, there could be a free fall towards the 20-day SMA price at $4.20, which was the previous peak before the recent rally.
  • However, if bullish investors continue to hold out for more gains, they will need to overcome the psychological resistance at $10.
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Based on recent trends, it seems that each time Worldcoin approached nominal milestones at $8 and $9, there was a momentary pullback. A similar pattern could occur if the price attempts to reach $10 during the next rally.

Hot Take: Worldcoin’s Explosive Growth and Future Prospects

The recent surge in Worldcoin’s price has been nothing short of remarkable. With a 336% increase in just 10 days, investors who got in early could have made a fortune. Here’s what you need to know:

  • The catalysts for this growth were NVIDIA’s strong earnings and the launch of OpenAI’s SORA generative AI video rendition model.
  • Worldcoin has also experienced steady growth in its user base, as evidenced by the increase in funded addresses and sign-ups for unique World IDs.
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While it remains to be seen if Worldcoin can sustain this momentum or if it will eventually fizzle out, one thing is clear: the cryptocurrency market continues to offer opportunities for significant gains. Keep an eye on Worldcoin and other promising projects as they navigate this volatile landscape.

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Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.