{"id":576897,"date":"2024-02-26T06:20:16","date_gmt":"2024-02-26T06:20:16","guid":{"rendered":"https:\/\/wncen.com\/?p=576897"},"modified":"2024-06-11T07:55:35","modified_gmt":"2024-06-11T07:55:35","slug":"worldcoin-wld-climbs-300-in-last-10-days-as-market-cap-crosses-1-billion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/worldcoin-wld-climbs-300-in-last-10-days-as-market-cap-crosses-1-billion\/","title":{"rendered":"Worldcoin (WLD) Climbs 300% In last 10 Days As Market Cap Crosses $1 Billion"},"content":{"rendered":"
Worldcoin (WLD), the cryptocurrency associated with the global identity project of the same name, has experienced a remarkable surge in recent weeks. Over a ten-day period ending February 22nd, WLD<\/a> witnessed a staggering 300% price increase, culminating in a new all-time high of $9. This unexpected rally has captivated the crypto community, raising questions about its sustainability and future prospects.<\/p>\n A confluence of external factors appears to have ignited the recent rally. The primary catalyst was the soft launch of SORA<\/a>, a revolutionary text-to-video AI model developed by OpenAI. News of SORA’s release sent shockwaves through the tech and crypto spheres, with WLD directly benefiting from the positive sentiment. Within four days of the announcement, the price of WLD skyrocketed by 150%, surging from $3 to $8.<\/p>\n While the recent surge is undoubtedly impressive, it’s crucial to examine Worldcoin beyond the temporary hype and assess its long-term fundamentals. While external factors undeniably played a significant role in the recent price rise, a deeper look reveals an underlying trend of user base and adoption growth.<\/p>\n <\/p>\n Prior to the price surge, Worldcoin had been steadily attracting new users, evidenced by the addition of 3,608 funded addresses since the beginning of the year. This growth brings the total number of addresses holding WLD to over 13,800, demonstrating a dedicated user base.<\/p>\n Furthermore, the project has garnered significant global adoption, with over 3.5 million individuals from 120 countries signing up for World IDs, highlighting its potential for widespread use.<\/p>\n <\/p>\n Meanwhile, adding further fuel to the fire was the release of NVIDIA’s outstanding earnings report for the fourth quarter on February 21st.<\/p>\n The chipmaker’s record-breaking performance instilled confidence in the broader technology sector, further propelling the token’s price. This positive spillover effect contributed to an additional 50% gain for WLD for the month alone.<\/p>\n As the initial excitement surrounding SORA and NVIDIA’s earnings subsides, market analysts predict a potential pullback in the short term.<\/p>\n Technical indicators suggest that WLD may have entered overbought territory, raising the possibility of a correction. If the crucial support level of $8 is breached, the price could drop towards $4.20, the previous peak before the rapid rally.<\/p>\nExternal Catalysts Fuel WLD’s Rise<\/strong><\/h2>\n
Worldcoin: Assessing Fundamentals<\/strong><\/h2>\n
WLD price in contrast to total number of users. Source: Santiment<\/a><\/pre>\n
Worldcoin is trading at $7.886 today. Chart: TradingView.com<\/a><\/pre>\n
Looking Ahead: Navigating Volatility And Building Long-Term Value<\/strong><\/h3>\n