WorldCoin, the cryptocurrency initiative led by OpenAI CEO Sam Altman, has soared to unprecedented heights, joined by 12 other AI-related tokens and stocks.
According to CoinGecko, Worldcoin's WLD digital currency recorded an impressive 21% price increase in the past 24 hours, jumping from $7.08 per token to an all-time high of $8.96, before settling at a solid $8.20 at the time of writing. It is said that the price has been settled at a certain value.
This jump marks a staggering 300% increase in value in February alone, when WLD started at just $2.20 in value.
Image: Tradingview
Worldcoin’s big selling point is that it will become the leading decentralized digital identification platform that provides every person on the planet with the ability to prove their humanity – the ability to distinguish real humans from bots and AI algorithms. To achieve this, Tools for Humanity, the startup behind the protocol, has developed World ID, a privacy-centric solution that allows users to confirm their “humanness.”
This verification process relies on the Orb, an iris-scanning device that creates a unique IrisCode for each user. This code is similar to a fingerprint and is stored on a decentralized blockchain, ostensibly protected from fraud.
It sounds like a dystopia, but people are piling up to hold their eyes out to the orb and register their irises. The project's first wallet, World App, surpassed his 1 million daily user count this week.
This idea is gaining traction, especially among young people and citizens of developing countries. For people in developing countries, the payments received in exchange for identity registration are so valuable that they provide important supplementary income.
This excitement is not limited to World Coin. The broader AI token market is also hot, with prominent projects such as The Graph, Ocean, and Render Protocol posting gains of more than 50% over the past seven days.
Fetch AI was up 75%, Forgotten Golem was up 68%, and SingularityNET was up 120%.
The AI frenzy extends to the stock market, which was already buoyed by Nvidia's record profit announcement yesterday. Since then, NVIDIA stock (NASDAQ: NVDA) is up 16%, and in February it gained nearly 30%, reaching an ATH of $785.
Image: Tradingview
Other tech giants like AMD and Microsoft have also seen big gains, with AMD (NASDAQ:AMD) experiencing an 11% surge today and Microsoft (NASDAQ:MSFT) enjoying a 3% gain. Not to be left behind, the meta is up almost 4% today, contributing to his 25% growth for the month. All of these stocks are hovering near all-time highs.
Resurgent interest in AI has been the driving force behind the S&P 500's recovery since last year, with technology companies a focus of discussion among analysts. The surge in related searches on Google Trends shows the widespread interest in AI and its potential impact on the crypto market and the broader financial environment.
Edited by Ryan Ozawa.
