The Worldcoin digital token, duly developed via a project co-founded by Sam Altman, is witnessing extreme instability. This is due to his exit from OpenAI and his return, which has taken the industry by surprise.
Incidentally, the token started its downward journey recently, from a previous high figure of $2.48, since digital markets took a step back and were further aggravated by Altman’s exit. In the end, Worldcoin reached a low of $1.84 following his departure, as per the data released by CoinGecko.
Worldcoin, which also goes by the name of WLD, has made a comeback with an 18% hike and regained the $2.40 figure. This happened while the senior management of OpenAI and the investors were trying to offer Altman the position of Chief Executive Officer once again.
The current market value of the token is roughly $280 million and is positioned in the 157th place where the crypto pace is concerned, as per CoinGecko. In the opinion of the Co-Founder of Digital Asset Capital Management, Richard Galvin, all of these occurrences revolved around the news about Altman.
Worldcoin is a blockchain-oriented mechanism that utilizes a tiny orb for scanning human eyeballs to come up with an individualistic digital identification. Altman co-founded the company that created it, Tools for Humanity. Owners of a supposed World ID digital identification can obtain Worldcoin tokens.
However, the tokens do not exist in US markets because there is not adequate regulatory transparency. World IDs are supposed to set up personhood in an artificial intelligence-abled future. This is because it just may become a problem identifying between humans and machines. There are privacy and ethics-related issues attached to the project.
Concerns have been raised regarding the fluctuations occurring within the token; however, Worldcoin has yet to respond. According to CoinGecko data, a group of ninety cryptocurrency currencies associated with the AI program has experienced volatile behavior, including a 7% increase in their collective market value, estimated to be worth approximately $6.5 billion.