- Worldcoin (WLD) has surged by 40% as it rides on the optimism surrounding artificial intelligence and positive Nvidia (NVDA) fourth-quarter earnings.
- WLD weekly gains have surpassed 170%, with the altcoin reaching a new all-time high of $8.85.
Worldcoin (WLD) has celebrated the success of chipmaker Nvidia (NVDA) with a 40% surge at the end of the week. This sees the altcoin extend its weekly gains by more than 170% to reach a new all-time high.
Nvidia’s earnings results released on Wednesday have spurred optimism around artificial intelligence (AI), driving demand for AI tokens. Consequently, Worldcoin, which was launched by Sam Altman, the co-founder and CEO of OpenAI; the creator of ChatGPT, has basked in the glory.
Our data shows that WLD rallied by more than 40% after the chip manufacturer announced its fourth-quarter earnings and first-quarter guidance expectations. This saw the altcoin extend its weekly gains by more than 150%. At the time of writing, WLD is trading at $8.50 after earlier reaching a new all-time high of $8.85.
Due to the project’s association with Altman and AI, many are confident that as the industry expands and revolutionizes industries such as the financial sector, WLD will be at the heart of the financial revolution.
Other AI-related projects have also recorded massive gains. SingularityNET (AGIX) and FetchAI (FET) are experiencing significant gains. SingularityNET, a decentralized marketplace for artificial intelligence, witnessed a remarkable 43% increase in its token price, reflecting investor enthusiasm for its potential to democratize access to powerful AI tools.
FetchAI, another prominent player in the decentralized AI space, wasn’t far behind, seeing its token value climb 18%. Additionally, Graph’s (GRT), which was up 17%, and Render’s (RNDR) jumped 23%.
This market reaction comes as no surprise in the cryptocurrency space. A similar reaction was observed with metaverse-related tokens, particularly when Facebook changed its name to Meta.
While some see AI crypto as a path to AI’s future, experts like Strahinja Savic, head of data and analytics at FRNT Financial, urge caution. He believes they’re linked to unproven blockchain-based projects, not widespread AI adoption. He further posits that the demand for AI-themed coins could be coming from outside the U.S. “It is conceivable that for an investor not able to buy stocks like NVDA, AI-themed tokens may be the next best thing,” he added.
However, the two are two of the most promising technological advancements in recent times, and their intersection could usher in the greatest technological leap the world has ever seen.
Further bolstering Worldcoin’s status in the market is its rising adoption. As CNF recently reported, the project has celebrated reaching one million daily users for its World App, as announced on February 18 on X.
World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible 🫡 pic.twitter.com/Mf6Y51gscQ
— Worldcoin (@worldcoin) February 17, 2024
However, the project still suffers from regulatory hurdles, with several countries, including Kenya, India, Brazil, and France, raising privacy concerns. The team remains confident that it can get over these hurdles by abiding by local regulations as it expands.
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