Crypto Traders Rush to Accumulate Worldcoin Ahead of June 6 Update Speculations – Will This AI Coin Experience a Surge Next?
Cryptocurrency traders are eagerly buying up Worldcoin ($WLD) amidst circulating rumors on X that an update to ChatGPT will be released on June 6. Worldcoin, created by Sam Altman, the CEO of OpenAI, the company behind ChatGPT, a chatbot and virtual assistant renowned for driving the current AI boom, is gaining significant attention.
While these rumors have yet to be confirmed, they have had a significant impact on the price of WLD. Currently, the token is up 4.5% in the last 24 hours and 8.1% in the last week, trading at $5.12 at the time of writing. This performance surpasses that of market leaders Bitcoin ($BTC) and Ethereum ($ETH), both of which have experienced a 2% decline since last week.
Worldcoin’s support has been steadily growing from $4 to $4.50, following a drop from its all-time high of $11.74 on March 10. This high was achieved during Bitcoin’s recent rally, which also saw the popular cryptocurrency reach a new record of $73,737.94, just four days after Worldcoin.
Despite the recent surge in price due to the rumors, Worldcoin has struggled to maintain a price level above $6. With the RSI approaching 70, sustaining the rally over the short-to-mid-term may prove challenging. It is possible that a “buy-the-rumors-sell-the-news” sentiment could lead to further losses after June 6, even if a ChatGPT update does materialize.
Sam Altman’s Controversial Mission to Bank the Unbanked
Worldcoin’s premise has generated excitement and concern among individuals. To acquire $WLD, users must visit a biometric eyeball scanner called the “Orb” and provide a snapshot of their eyeballs. Orbs are located in major cities such as Berlin, Dubai, London, Mexico City, Miami, New York City, San Francisco, Seoul, and Tokyo. The biometric data, along with government-issued ID verification, is used to confirm a user’s identity before distributing coins.
According to OpenAI, Worldcoin aims to build blockchain infrastructure to provide banking services to the unbanked population worldwide, enabling everyone to benefit from technological progress. The project promotes privacy and ownership for all.
However, skepticism exists, including concerns raised by Ethereum creator Vitalik Buterin. In a blog post, Buterin expressed worries about the protocol’s privacy, accessibility, centralization, and security, stating that it could take years for it to be effective. Lawmakers in countries like Mexico, Malaysia, and Argentina are also closely monitoring the protocol, citing similar concerns.
Despite its intriguing concept, Worldcoin, in its current form, may deter many investors. However, another cryptocurrency project called WienerAI, still in its presale phase, has gained millions of dollars by enhancing the meme coin concept with AI intelligence, personality, and utility. WienerAI ($WAI) serves as a revolutionary AI trading partner, providing user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees. Investors can ask WienerAI questions related to their trading needs and receive recommendations and logical breakdowns.
WienerAI’s presale, which started a month ago, has already attracted $3.5 million in investments. The smart contract has been audited by blockchain security platform Coinsult, and approximately 20% of $WAI’s supply is available for staking. The presale offers a lucrative yield, currently standing at 299% APY.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and should not be considered investment advice. It is possible to lose all invested capital.