Worldcoin (WLD) Hits All-Time High of $6.69, What's Driving It?

• Worldcoin (WLD) surges 26%, hitting ATH amidst controversy.
• Regulatory scrutiny and privacy concerns shadow Worldcoin’s Universal Basic Income vision.

Worldcoin (WLD), a cryptocurrency spearheaded by none other than OpenAI CEO Sam Altman, has seen a staggering surge of 26% in just twenty-four hours, reaching an all-time high price of $6.8045. This surge is emblematic of a larger trend, with the market capitalization of Worldcoin also leaping by 26% to $874 million, and trading volume spiking by 21% to $700 million.

The WLD‘s meteoric rise over the past week, clocking in at an astonishing 163%, can be partially attributed to the exponential growth in its user base. Worldcoin’s proprietary crypto wallet application, the “World App,” recently surpassed the milestone of 1 million users. It marks a significant increase from a mere 100,000 daily active users just a few months prior.

Worldcoin Ambitious Plans

However, amidst this rapid expansion lurks controversy. Worldcoin’s ambitious vision of ushering in a worldwide Universal Basic Income (UBI) through its biometric identity verification system has raised substantial privacy concerns. The project’s metallic eye-scanning devices, ominously dubbed “Orbs,” have attracted the scrutiny of regulators worldwide. Along with investigations launched in Hong Kong and services suspended in Kenya.

Despite these regulatory hurdles, Worldcoin continues its ascent, buoyed by a broader rally in the crypto sector. The project’s gains coincide with notable updates from its parent company, OpenAI. Just days ago, OpenAI unveiled Sora, a text-to-video generator, further solidifying its position at the forefront of technological innovation.

Moreover, Altman‘s audacious ambition is to raise a staggering $7 trillion for semiconductor chip development. It demonstrates OpenAI’s unwavering commitment to pushing the boundaries of possibility. While eyebrows may have been raised at the colossal figure, Altman remains undeterred in his quest to propel OpenAI to even greater heights.