SORA

World

Worldcoin

when

Worldcoin’s price soared to an all-time high of $9 on Feb. 22, up by a staggering 336% in the last 10 days as OpenAI’s SORA launch and NVIDIA earnings emerge as key drivers.&nbsp; 
On Feb. 22, Worldcoin (<a href="https://crypto.news/price/worldcoin/">WLD</a>) achieved unicorn status, crossing the $1 billion market capitalization milestone. 
WLD’s emergence on the crypto top-gainers chart is largely attributed to bullish headwinds from NVIDIA’s stock performance and OpenAI’s recently shipped SORA generative AI video rendition model.&nbsp; 
It remains to be seen if Worldcoin’s underlying ecosystem’s growth can sustain the momentum or if the rally will peter out as the <a href="https://crypto.news/worldcoin-ftx-three-arrows-capital-creditors/">media hype</a> cools.&nbsp; 
<h2 class="wp-block-heading" id="worldcoin-adds-840-million-market-cap-in-10-days">Worldcoin adds $840 million market cap in 10 days&nbsp;</h2> 
On Feb. 22, Worldcoin’s native WLD token stretched its remarkable price rally in February 2024 to a staggering 320%, adding $840 million to its market capitalization within a frenetic 10-day period.&nbsp; 
After a tepid start to the month, Worldcoin’s price trend flipped bullish on Feb. 15 when <a href="https://crypto.news/worldcoin-gain-openai-sora/">OpenAI</a> soft-launched its latest text-to-video AI model, Sora. 
Between Feb. 15 and Feb. 19, WDL price soared 160%, rising from $3 to a global peak of $8.&nbsp; 
<figure class="wp-block-image is-resized">
 <img loading="lazy" decoding="async" width="1600" height="682" src="https://crypto.news/app/uploads/2024/02/image-75.png" alt="Worldcoin hits $1b market cap as OpenAI, NVIDIA unleash bullish catalysts&nbsp; - 9" class="wp-image-14251974" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 Worldcoin (WLD) Price Performance, Feb. 15 to Feb. 23 | Source: <a href="https://www.tradingview.com/x/hUEj04yK/" target="_blank" rel="noreferrer noopener">TradingView</a>
 </figcaption>
</figure> 
At the $8 territory, a rapid profit-taking wave saw WLD price retrace toward $6 on Feb. 21, as investors grew hawkish on NVIDIA’s Q4 earnings.&nbsp; 
However, the leading chip manufacturer posted record-breaking earnings on Feb. 21, sending its share price to all-time highs. Along with other AI-related risk assets, WDL price also rocketed further, hitting an all-time high of $9, adding another 50% to its February gains. 
Beyond the media hype, the Worldcoin project has witnessed increased global adoption since the turn of the year.&nbsp; 
<h2 class="wp-block-heading" id="worldcoin-funded-addresses-were-on-the-rise-before-the-rally">Worldcoin-funded addresses were on the rise before the rally&nbsp;</h2> 
WLD’s over 300% price breakout in the last 10 days has been credited to the developments surrounding NVIDIA and OpenAI and for a good reason. 
However, looking past positive headlines, on-chain data trends show that Worldcoin has attracted a steady growth in user base, even before the latest frenzy.&nbsp; 
<figure class="wp-block-image">
 <img loading="lazy" decoding="async" width="1600" height="755" src="https://crypto.news/app/uploads/2024/02/image-74.png" alt="Worldcoin hits $1b market cap as OpenAI, NVIDIA unleash bullish catalysts&nbsp; - 10" class="wp-image-14251973">
 <figcaption class="wp-element-caption">
 Worldcoin (WDL) Price vs. Total Amount of Holders | Source: <a href="https://embed.santiment.net/chart?ps=worldcoin-org&amp;pt=WLD&amp;df=2023-09-18T00%3A00%3A00.000Z&amp;dt=2024-02-22T00%3A00%3A00.000Z&amp;emnm=1&amp;emcg=1&amp;wm=price_usd%3Bholders_distribution_total&amp;wax=0%3B1&amp;wc=%2326C953%3B%23FF5B5B&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" target="_blank" rel="noopener">Santiment</a>
 </figcaption>
</figure> 
The Santiment chart tracks the number of unique addresses holding units of a specific cryptocurrency. It shows that Worldcoin has attracted 3,608 new funded addresses since the turn of the year, bringing the total to 13,800 at press time on Feb. 23.&nbsp; 
A closer look at the red trendline shows that while WDL price dipped 50% from $4.21 to $2.20 between Dec. 17 and Feb. 5, it continued to attract steady growth in new investor addresses.&nbsp; 
<figure class="wp-block-image">
 <img loading="lazy" decoding="async" width="1600" height="694" src="https://crypto.news/app/uploads/2024/02/image-76.png" alt="Worldcoin (WLD) Ecosystem growth data " class="wp-image-14251976">
 <figcaption class="wp-element-caption">
 Worldcoin (WLD) Ecosystem growth data | Source: <a href="http://worldcoin.org" target="_blank" rel="noreferrer noopener">Worldcoin.org</a>
 </figcaption>
</figure> 
More data from the Worldcoin official website shows that 3.5 million people from 120 countries have now signed up for unique World IDs.&nbsp; 
This remarkable growth within the on-chain WLD ecosystem came after initial pushback surrounding its IRIS scanning and data harvesting concerns from critics. 
It, however, remains to be seen if this growth translates into steady on-chain transactions and network activity sufficient to keep WLD on its current upward trajectory.&nbsp; 
<h2 class="wp-block-heading" id="worldcoin-price-prediction-10-is-the-next-major-resistance">Worldcoin price prediction: $10 is the next major resistance&nbsp;</h2> 
In terms of short-term price action, without another comparable bullish catalyst, Worldcoin’s price will likely enter a pullback below $8 in the coming days.&nbsp; 
With prices trending at all-time highs, virtually every existing holder sits on unrealized profits. As media fanfare surrounding SORA and NVIDIA wanes, some strategic investors could look to take some profits.&nbsp; 
The upper and lower Bollinger bands are stretched to extremes, pointing in opposite directions. This rare market alignment happens when an asset has reached overbought conditions and is primed for a pullback.&nbsp; 
If this scenario plays out as predicted, losing the $8 support could trigger a free fall toward the 20-day SMA price at $4.20, the previous peak recorded before the blistering rally set in 10 days ago. 
<figure class="wp-block-image">
 <img loading="lazy" decoding="async" width="1600" height="694" src="https://crypto.news/app/uploads/2024/02/image-76.png" alt="Worldcoin (WLD) Price Prediction" class="wp-image-14251975">
 <figcaption class="wp-element-caption">
 Worldcoin (WLD) price prediction | Source: <a href="https://www.tradingview.com/x/1ZzrzJlK/" target="_blank" rel="noreferrer noopener">TradingView</a>
 </figcaption>
</figure> 
On the other hand, there’s a chance bullish investors could hold out for more gains, especially with the official launch of SORA still to come. In this case, the bulls must first scale the $10 psychological resistance.&nbsp; 
This week’s price trends show that WLD witnessed a momentary pullback each time the price approached nominal milestones at $8 and $9, respectively. A repeat of this pattern could see the WLD price rejected from $10 during the next rally.

Worldcoin hits $1b market cap as OpenAI, NVIDIA unleash bullish catalysts

Table of Contents

crypto.news

Other articles published on Feb 23, 2024

Exploring the Convenience of Harvest Finance for High-Yield Farming

How to Swap ETH Coins without gas

Prediksi Bullish Kripto: Giliran Cardano (ADA) dan RETIK?

Terra Luna Classic Community Implements Proposal to Curb Spam

Ethereum, Synthetix And Tron Price Forecast: Weekly Outlook?

Uniswap to Boost User Experience With UNI.ETH Domain Names

Join our free newsletter for daily crypto updates!