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Worldcoin’s Price Correction and Market Impact
Worldcoin’s price fell 20% from a high near $8, amid a 4.73% decrease in the market cap of top artificial intelligence (AI) tokens over 24 hours. According to Crypto.com, the identification project co-founded by OpenAI CEO Sam Altman, Worldcoin dropped to as low as $6.26 post its recent peak at $7.96.
The 20% correction of Worldcoin price reflected the wider market trends among AI-focused tokens. At the time of writing, the top AI tokens market capitalization has made a 4.73% dip over the past 24 hours, marking a total market cap at $33 billion.
AI Tokens Performance
Among the top six AI cryptos listed by the website, up to five tokens dropped by 6-7%, including:
- Internet Computer (ICP)’s 6.63% decrease
- NEAR Protocol (NEAR)’s 7.6% decrease
- Injective (INJ)’s 6.9% decrease
- The Graph (GRT)’s 6.44% decrease
- Theta Network (THETA)’s 6.84% decrease
Worldcoin: Project Milestones and Market Surge
Founded by Sam Altman, Max Novendstern, and Alex Blania, Worldcoin started as a digital identity project that uses blockchain technology to verify users’ identities securely. The project rewards individuals with WLD tokens for participating in iris scans.
On Feb. 20, Worldcoin announced on social media that the total number of verified users has reached 3.5 million, marking a new milestone for the initiative.
Price Surge Fueled by Sora
Worldcoin previously saw a significant 170% increase in its value over a week, propelled by the unveiling of OpenAI’s video creation model, Sora. CoinMarketCap data reveals the price of Worldcoin escalated to $6.83, up from $2.5, boosting its market cap to nearly $900 million.
On February 18, Worldcoin announced that the daily active users of the World App surpassed one million. This surge in user engagement coincides with the broader attention on OpenAI’s new innovation and AI technologies.
The Feb. 15 introduction of text-to-video model Sora by OpenAI, which allows the creation of detailed videos up to 60 seconds long, has fueled interest in Worldcoin. At the current stage, OpenAI only plans to grant access to Sora to a limited number of creators initially, showcasing advanced video-generating capabilities.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
