It appears a new contender has entered the arena in an attempt to overthrow one of the blue-chip cryptocurrencies today. This is none other than Worldcoin (WLD), the cryptocurrency project of OpenAI CEO Sam Altman.
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Worldcoin launched today, July 24, and is now embraced by some of the top cryptocurrency exchanges today. Namely, these are Binance, Bybit, Gate.io, Huobi, and Bitrue. After its initial listing at $1.66 on CoinGecko, WLD is now trading at $2.84, although it was able to hit $3.30.
Binance to List WLD
The above-mentioned price has been reached even though WLD hasn’t been listed by Binance yet. Historically, most trending crypto tokens that get listed on Binance shoot up in price after the initial listing before the hype simmers down.
This was the case with Shiba Inu (SHIB), which saw a 114% surge in just 24 hours after listing. The case of Pepe (PEPE) was even more ridiculous with over 6,000% increase after Binance listed the token.
Now, this does not imply that WLD is a memecoin. However, the current hype being experienced by WLD is akin to that of memecoins, which are being traded purely from a speculative standpoint.
Worldcoin (WLD) Price Analysis
The price of WLD is extremely volatile right now, especially since there is no price movement precedent that seasoned traders can refer to. The coin has been trading for just a couple of hours so there is no prevailing trend yet.
WLD 24-hour price movement (source: CoinGecko)
As seen in the chart above, WLD has touched the current peak at $3.30, although the price is seeing wild volatility. Fortunately, it is safe to assume that the price will go up to at least $5 once top dogs Binance and Coinbase have listed WLD on their trading platforms.
However, the price will move up and down significantly in the next 48 hours before a trend can be established.
Others are already wary of WLD’s current uptrend, especially since Sam Altman himself confessed to his uncertainty about the project’s success.
Bull Case Not in Sight?
Others are also sharing their misgivings, with some expressing early fear, uncertainty, and doubt (FUD).
Jack Dorsey, the creator of Twitter, also weighed in on the vision of the Worldcoin project. According to him, Worldcoin’s vision is ‘cute’, albeit in a negative way.
Dorsey’s sentiment is understandable given his preference for Bitcoin as the system that will revolutionize money. Regardless, Altman’s attempt is courageous at best — if not unique.
Looking Ahead
Whether Worldcoin succeeds or not, only time can tell. To be fair, though, Worldcoin has turned enough heads for it to obtain an instant listing from top crypto exchanges, even if it is mainly credited to the popularity of OpenAI.
Vitalik Buterin also expressed his interest in what Worldcoin is trying to accomplish. He wrote in a blog:
“The concept of proof-of-personhood in principle seems very valuable, and while the various implementations have their risks, not having any proof-of-personhood at all has its risks too: a world with no proof-of-personhood seems more likely to be a world dominated by centralized identity solutions, money, small closed communities, or some combination of all three.”
“I look forward to seeing more progress on all types of proof of personhood,” he concluded, “and hopefully seeing the different approaches eventually come together into a coherent whole.”
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