Worldcoin price reached a new all-time high of $7.996 on Monday, February. 19, 2024, surging over 200% in the past week, defying privacy concerns and regulatory hurdles.
The price of WLD is currently $7.11 as of 9:06 a.m. EST with a market cap of $919 million and a 24-hour volume of $1.339 billion. The token has surged over 165% in the past week, reaching a new all-time high of $7.996 on Monday, February 19, 2024.
WLD Retraces After a 168% Price Jump, Is it a Sell the News Event?
Worldcoin price may soon encounter some selling pressure as tokens worth $165 million will begin unlocking from February 19 through February 26, 2024.
Token unlocks are usually a FUD moment in the crypto space since they present the risk of an increase in the selling pressure of a token, and consequently, a price drop.
Nevertheless, the current Worldcoin price prediction sentiment is bullish. Based on the historical price movements of Worldcoin and the BTC halving cycles, the yearly low WLD price prediction for 2024 is projected to be $4.61, while the yearly high is projected to be $14.38
Sora Launch May Have Sparked a FOMO Rally on Worldcoin Price
The WLD token rally came about because of the launch of Sora, a text-to-video generator developed by OpenAI. OpenAI, the company behind the famous ChatGPT, is co-founded by Worldcoin’s creator, Sam Altman.
Sora can generate realistic videos from natural language inputs, such as descriptions, scripts, or captions. The launch of Sora generated a lot of buzz in the AI community, as well as among crypto enthusiasts who see WLD as a bet on OpenAI’s successes.
Besides the release of Sora, the growing adoption of decentralized ID systems has positively impacted WLD’s price over time.
In mid-2023, Worldcoin released the World ID and airdropped WLD tokens to users who scanned their irises using a device called the Orb.
The World ID is a privacy-preserving and human-verifying online identity critical for various purposes like signing on to websites, accessing dApps, or participating in the governance of DAOs.
According to Worldcoin’s website, over three million people have created their World IDs as of February 19, 2024.
Worldcoin price may experience some volatility and correction in the short term, but it has the potential to grow significantly in the long term, as Worldcoin continues to innovate and expand its user base.