Worldcoin Cryptocurrency Surges 205% Amidst Rising User Base

Worldcoin (WLD/USD), a controversial cryptocurrency project co-founded by the CEO of OpenAI, Sam Altman, has seen an impressive increase of 205% over the past week. In the face of ongoing privacy concerns, the project's associated identity verification platform celebrated a milestone of reaching one million daily users.

User Growth and Market Movement

According to the cryptocurrency data aggregator CoinGecko, Worldcoin saw a notable spike of 43% in just the last 24 hours. The World App, the application spearheading the user count, reported on February 18th that its daily active users had multiplied tenfold since November 2023, now exceeding the one million mark.

Key Drivers of the Surge

The bullish trend for Worldcoin started around February 15th following the release of OpenAI's new text-to-video model Sora. CoinDesk pointed out that creditors of the bankrupt hedge fund Three Arrows Capital also stand to win from the surge, as the fund had previously invested in a $25 million funding round at a valuation of $1 billion for Worldcoin's developing entity, Tools For Humanity.

Price Predictions and Tokenomics

Market analysts have been observing Worldcoin's progress with keen interest. A chart analyst using the pseudonym Ali Charts has suggested that if the recent technical breakout sustains, price targets of $15 and $26 could be on the horizon. However, predictions vary, with another analyst, Thedefivillain, anticipating further upward movement. Further attention is drawn to the upcoming token unlock scheduled for February 26, which will see a $165 million tranche of tokens introduced to the market.

Debates on Privacy

Worldcoin continues to be a divisive topic within the crypto community, mainly due to its data collection methods. The project's use of devices called 'Orbs', which are portable iris scanners, has raised considerable privacy concerns among critics who are wary of the potential for user privacy infringement.

Worldcoin, Altman, Cryptocurrency