Worldcoin (WLD) has been showing impressive growth over the past two weeks. On February 19, 2024, the asset rate set a new historical maximum
Over the past 24 hours, the price of the Worldcoin token, WLD, has increased by almost 40%, setting an absolute record at $7.40. Let’s figure out what contributed to this dynamic.
WLD Price Indicators
According to the VR Soldier analysts, at the time of writing, WLD is trading at $7.45 – the highest level in the entire history of the project.
This is 644.9% more than in September 2023, when the asset fell to a historic low. Over the past 24 hours, the value of the coin has increased by 42.7%. On a weekly basis, the growth amounted to 192.6%.
WLD currently has a capitalization of $951 million and a trading volume of $789 million. There are 130,724,553 coins in circulation out of a total supply of 10 billion tokens.
Worldcoin Growth Factors
On February 18, Worldcoin developers wrote on X (formerly Twitter) about a new achievement of the World App cryptocurrency wallet. The number of daily active users of the application has broken the 1 million mark. Back in November last year, the figure did not exceed 100 thousand.
World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible 🫡 pic.twitter.com/Mf6Y51gscQ
— Worldcoin (@worldcoin) February 17, 2024
A few days earlier, on February 16, the company also introduced a neural network called Sora. The artificial intelligence ( AI ) model allows you to generate videos up to 60 seconds long from a given text.
Introducing Sora, our text-to-video model.
Sora can create videos of up to 60 seconds featuring highly detailed scenes, complex camera motion, and multiple characters with vibrant emotions. https://t.co/7j2JN27M3W
Prompt: “Beautiful, snowy… pic.twitter.com/ruTEWn87vf
— OpenAI (@OpenAI) February 15, 2024
The new product quickly entered X trends, causing a huge stir. Not only users, but also several AI tokens, including WLD, reacted to such an event. The price of the latter immediately rose by 32%.
Last fall, a scandal broke out in Worldcoin – the company’s board of directors decided to dismiss Sam Altman, one of the founders of the project. Following the news, WLD experienced high volatility: first it fell by 25% and then rose by 38%.
How does Worldcoin work?
Worldcoin consists of three key elements: an ID and an application, as well as a WLD token. Users who want to scan their iris to create a biometric-based identification system are rewarded with project tokens.
The project promises to create a global database for people to distinguish them from bots in the future. Worldcoin claims that in the future, artificial intelligence will become so advanced that it will be difficult to distinguish a real person from a bot online. Therefore, World ID will become an identification system for people to access various services and platforms.
