Worldcoin (WLD), the crypto project run by OpenAI CEO Sam Altman, has surged a blistering 34% in the past 24 hours to trade at $7.30 as of this writing. This means that Worldcoin is now 185% higher than it was at this time last week.
Much of the excitement over the weekend was fueled by the company’s Friday launch of its text-to-video generator, Sora, which was a hit on social media.
Introducing Sora, our text-to-video model.
Sora can create videos of up to 60 seconds with highly detailed scenes, complex camera movements and multiple characters with vivid emotions. https://t.co/7j2JN27M3W
Prompt: “Beautiful, snow… pic.twitter.com/ruTEWn87vf
— OpenAI (@OpenAI) February 15, 2024
Within a day of launch, Worldcoin celebrated reaching 1 million daily active users for its World App wallet.
World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is amazing 🫡 pic.twitter.com/Mf6Y51gscQ
— Worldcoin (@worldcoin) February 17, 2024
On closer inspection, Worldcoin’s chart over the weekend indicates very bullish price action, with frequent cup-and-handle patterns indicating that the cryptocurrency’s price still has more headroom to grow in the near term.
However, a sudden price drop in the last few hours indicates strong selling activity, although the current Relative Strength Index (RSI) of 53 indicates that the relative price drivers are all well priced at this time. Taken as a whole, this suggests a short-term rally to $100 is likely unlikely, although such long-term prospects exist.
Wordcoin: A Primer to WLD
Worldcoin received an ambivalent response at launch last year because of its controversial ramp: anyone who wants some WLD must visit an “Orb” – some of which are found in Berlin, Dubai, London, Mexico City, Miami, New York , San Francisco , Seoul and Tokyo – and get a snapshot of their eyeballs.
This biometric data is used in conjunction with government-issued ID verification to confirm users’ identity before distributing coins to them.
Worldcoin says it is building blockchain infrastructure to bank the world’s unbanked, enabling everyone to “broadly share the coming technological prosperity,” according to its website. “Privacy first. Owned by all.” goes the slogan.
But many are skeptical, including Ethereum creator Vitalik Buterin who wrote a blog post outlining his concerns about the protocol’s privacy, accessibility, centralization and security and said it could take years to work.
This year, the project hit a new high in January when it welcomed 16,000 Orb signups in a single day, after surpassing the 5 million mark the previous month.
Less invasive global altcoins
Worldcoin’s WLD may be one of the more fascinating altcoins out there, but several other coins have promising room for growth without triggering potential privacy alarms. Ethereum-based token Bitcoin Minetrix (BTCMTX) is one such coin.
Interested investors can pick it up at its current price of $0.0135 before the price goes up. The token may be more expensive tomorrow due to its profitable premise; it has raised more than $11.1 million to date.
BTCMTX uses Ethereum smart contracts to help investors get bigger returns by providing an easy ramp into Bitcoin cloud mining. Token holders can mine the world’s favorite cryptocurrency without purchasing specialist mining rigs. Are you interested? Simply buy and play BTCMTX via the website. There are no minimum purchases and token withdrawal is simple, making for a low-stakes ramp into cloud mining.
The more BTCMTX investors lock in, the more cloud mining credits they will receive. It represents hash power. The greater the hash power, the more attempts Bitcoin cloud mining software can make to break the network’s cryptographic mysteries in any given time.
It allows anyone to become a validator (aka miner) and validate blocks of transactions (aka mine) to receive rewards in Bitcoin.
The platform rewards staking with more BTCMTX, further fueling the staking/mining cycle and generating two revenue streams.Buy Bitcoin Minetrix Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and is not investment advice. You can lose all your capital.
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