In a surprising twist in the crypto markets, Worldcoin (WLD) has seen a robust 30% surge over the past week.
This has been fueled by swirling rumors about a potential new product from OpenAI.
Worldcoin’s Value Increases Amid OpenAI Rumors
This increase in value aligns with speculative interests as traders anticipate the launch of a rumored proprietary search engine by ChatGPT’s parent company, OpenAI.
Worldcoin, although not directly linked to OpenAI, shares a common visionary in Sam Altman, spearheading the iris-scanning project and the AI pioneer. Despite this indirect connection, the market has responded positively, highlighting the impact of even speculative associations in the volatile crypto sector.
The buzz began earlier this month when AI researcher Pete Huang hinted on social media at the impending launch of ‘search.ChatGPT.com’ scheduled for May 9. This news has ignited investor interest, positioning Worldcoin at the forefront of AI-related crypto assets.
Adding to the enthusiasm, a recent report by Santiment noted that Worldcoin’s market cap surged by 44% in early May, further buoyed by controversial remarks from Warren Buffett regarding the potential for illicit financial activities facilitated by AI technology. These comments have intensified the spotlight on AI coins, with Worldcoin leading the charge.
Read more: How to Buy Worldcoin (WLD) and Everything You Need to Know
Daily trading volumes have also seen a substantial uptick, with a 134% increase yesterday, signaling strong market interest. On May 6, Trader Cryptosahintas shared their price outlook for WLD, suggesting that it could rise to $16 in the long term.
“On the #WorldCoin 1-day chart, the technical outlook is positive. Short term $12, then $16 can be expected,” Cryptosahintas said.
The prospective OpenAI and Worldcoin partnership could blend advanced AI technologies with Worldcoin’s services, potentially boosting WLD’s utility and appeal. However, this alliance could also draw regulatory scrutiny, given Altman’s influential role in both entities. Investors seem undeterred, as reflected in the notable increase in Worldcoin’s open interest, which has jumped by 21.5% in the last 24 hours.
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