• Worldcoin (WLD) has hit a $20 billion market valuation barely 24 hours after launch, reaching an all-time high of $3.30.
• However, WLD is now down by 35% since hitting yesterday’s peak and 20% over the last 24 hours.
• The coin was co-founded by Sam Altman of OpenAI and plans to provide everyone in the world with a digital ID using biometrics such as iris scanning, raising privacy concerns.
Worldcoin Reaches $20 Billion Market Cap
Worldcoin (WLD) reached a market cap of $20 billion barely 24 hours after its launch, hitting an all-time high of $3.30 soon after its listing on exchanges. However, WLD has since dropped by 35%, falling to its current level of around $2.20 as the hype surrounding its launch settles down and early buyers take their profits.
Sam Altman Co-Founds Worldcoin
Worldcoin was co-founded by Sam Altman, who also happens to be the founder of OpenAI, the company responsible for generative AI sensation ChatGPT. This kind of pedigree has unsurprisingly caused investors to sit up and take notice of Worldcoin, especially when the latter plans to provide everyone in the world with a digital ID using biometrics such as iris scanning.
Privacy Concerns With Biometric Scanning
The use of biometrics like iris scanning to provide a universal digital identity has left some commentators disturbed by potential threats to privacy that this technology could present if not properly regulated or monitored.
Relative Strength Index Rises Again
The relative strength index (RSI) for WLD is currently rising again, nearing 70 after dropping down below 30 during the night. If it can break through its current resistance level at around $2.20 then we could see WLD return to higher levels than before due to new buyers entering the market following its big dip last night – something which may well be possible given that there have been no major news developments overnight that would negatively affect it’s price trajectory..
Can WorldCoin Overtake Bitcoin?
It remains unclear whether Worldcoin will eventually overtake Bitcoin as the dominant cryptocurrency – but with WLD having achieved such remarkable success so soon after launch, anything seems possible!