Worldcoin (WLD) has experienced a significant surge in price, reaching a new all-time high of $10.92 on March 9. This increase can be attributed to recent developments at OpenAI, where WLD co-creator Sam Altman has returned as CEO. Additionally, Worldcoin contributor Tools for Humanity has filed a lawsuit against Spanish authorities, adding to the coin’s momentum.
The price of WLD has risen over 50% in the past 24 hours, reaching a new high above $11. This surge has been driven by bullish sentiment and price discovery, with the coin testing the $11.05 mark on Binance. Trading volume has also seen a significant increase, rising 286% to $1.56 billion in the past 24 hours according to CoinGecko.
One contributing factor to this price increase is Altman’s return to OpenAI’s board of directors, alongside the addition of new members. This comes after the controversy surrounding his previous ousting and swift reinstatement as CEO in 2023. The release of OpenAI’s text-to-video AI model Sora in February has also boosted WLD’s price, along with other AI-related tokens.
However, Worldcoin’s price did face a slight dip earlier this month when Elon Musk filed a lawsuit against OpenAI. Additionally, the coin’s value was negatively impacted by the Spanish authorities’ order for Worldcoin to halt its activities in the country due to concerns over biometric data privacy. Worldcoin has stated that it has been operating lawfully in Spain and has engaged with regulatory watchdog BayLDA for GDPR compliance.
Despite this setback, the project remains confident in its compliance measures and has paused all World ID verification services in Spain while Tools for Humanity has filed a lawsuit against the AEPD order.
In conclusion, Worldcoin’s recent price surge can be attributed to developments at OpenAI and the project’s commitment to compliance. As the coin continues to gain traction and adoption, it will be interesting to see how it performs in the future.
