Worldcoin (WLD), the cryptocurrency associated with Sam Altman’s innovative retina-scanning project, experienced significant fluctuations in its value in recent days, coinciding with Altman’s departure from OpenAI and subsequent rumors of his potential return before ultimately being replaced.
On November 16, WLD reached a high of $2.48, but its value began to decline shortly thereafter.
The decline intensified after Altman’s departure from OpenAI became public on November 17 in the United States, causing WLD to plummet to a low of nearly $1.84, according to data from CoinGecko.
However, the token managed to stage a recovery, surging by 12% within the following 24 hours, reaching an intraday high of $2.54 during Asian trading on Monday morning.
Nevertheless, WLD once again faced a drop in its value, falling to $2.30 after Altman was officially replaced as CEO by Emmett Shear, co-founder of Twitch.
It’s worth noting that Altman was one of the co-founders of Worldcoin, which was launched in July as a digital identity platform with grand ambitions of creating a global ID and financial system.
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This system would rely on retina scanning technology to authenticate individuals, addressing concerns related to privacy and security amidst the growing influence of artificial intelligence (AI) technology.
The launch of Worldcoin sparked a polarized response within the cryptocurrency community, with many questioning the project’s degree of centralization and its implications for user privacy.
Interestingly, over the past 24 hours, AI-related cryptocurrencies have exhibited strong performance.
The market capitalization of AI-related tokens recorded a notable 7.2% increase, reaching $6.5 billion.
Tokens like Fetch.ai (FET), SingularityNET (AGIX), and Akash Network (AKT) have witnessed double-digit gains during this period, as reported by CoinGecko.
In summary, Worldcoin’s recent volatility was closely tied to the developments surrounding Sam Altman, its co-founder, and his departure from OpenAI.
The cryptocurrency continues to be a subject of scrutiny and debate within the crypto community, while AI-related tokens as a whole are demonstrating resilience and growth in the market.
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