Cryptocurrency project Worldcoin, supported by OpenAI CEO Sam Altman, has recently experienced a surge in value, possibly due to the release of OpenAI’s new model, Sora. However, it is important to note that Worldcoin and Sora are not technically related, and Worldcoin may also face potential sell-offs from large holders at any time.
Worldcoin, a cryptocurrency project co-created by OpenAI CEO Sam Altman, has seen a staggering 175% increase in value over the past week, reaching new historic highs. Just this morning, WLD approached $8 and, at the time of writing, has slightly fallen to $7.21, marking an 18.45% increase in the past 24 hours. With the rise in price, Worldcoin’s market value briefly exceeded $1 billion, placing it among the top 100 cryptocurrencies.
The reason behind the sudden surge of WLD may be attributed to the release of Sora, a new artificial intelligence model introduced by OpenAI on February 15. Sora is capable of generating high-quality short videos based on user input text. It is possible that the market has transferred its expectations for OpenAI and Sam Altman to Worldcoin, leading to its rapid increase in value.
However, it is worth noting that Worldcoin and Sora are completely unrelated projects. Currently, OpenAI and the official Worldcoin team have not announced any relevant technical collaborations. Therefore, in the face of market hype and FOMO sentiment, investors need to exercise risk control and make cautious judgments.
Another concern regarding Worldcoin is the centralization of token distribution. According to monitoring data from the blockchain data platform Lookonchain, the top 10 holders of WLD (including project parties, centralized exchanges, and market makers) collectively hold 9.15 billion WLD, accounting for 91.5% of the total supply.
Overall, the distribution of WLD is still in its early stages, and whether the project can achieve its goal of financial inclusion remains to be seen.
Additionally, it is important to note the following:
– Bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) holds a total of 75 million WLD, accounting for 0.75% of the total supply, approximately $579 million.
– Bankrupt cryptocurrency exchange FTX’s sister company, Alameda, holds 25 million WLD, accounting for 0.25% of the total supply, approximately $193 million.
Since these two bankrupt companies are currently facing debt repayment issues, there is a possibility of selling off their holdings for cash at high WLD prices. In the face of potential selling pressure, investors are advised to exercise caution as WLD currently experiences high volatility.
Related reports:
– Kenyan government: Worldcoin constitutes espionage behavior and threatens national status!
– Worldcoin’s circulating supply to be greatly reduced! Market makers must return 75 million WLD by December 15.
– After being ousted from OpenAI, will Worldcoin become Sam Altman’s next business focus?