Sam Altman's Worldcoin (WLD) Price Spikes by 50%, FDV Exceeds $105 Billion
03/09/2024 17:55
Worldcoin (WLD) becomes third largest cryptocurrency by fully diluted valuation, only surpassed by Bitcoin (BTC) and Ethereum (ETH)
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In a surprising rally, WLD, the core native cryptocurrency of the eccentric eye-scanning protocol Worldcoin by OpenAI's Sam Altman, breaks into the top three of cryptos by fully diluted valuation.
Worldcoin (WLD) price almost doubled in three days despite legal issues
Worldcoin (WLD), the key utility crypto of the eponymous protocol, hit a price ATH today, on March 9, 2024. The Worldcoin (WLD) price touched $11 on major spot centralized exchanges. Its market cap exceeded those of The Sandbox (SAND), Axie Infinity (AXS) and peaked over $1.6 billion.
At the same time, with its monstrous supply, Worldcoin (WLD) managed to become the third largest cryptocurrency by fully diluted valuation, i.e., by the hypothetical aggregated price of the net supply at the current market price.
The FDV of Worldcoin (WLD) now is estimated as $106 billion. Today, it replaced U.S. Dollar Tether (USDT), a dominant stablecoin, as the third largest crypto by FDV. As of now, it is only surpassed by Bitcoin (BTC) and Ethereum (ETH).
In the last 24 hours, the WLD price jumped by over 50%. As of printing time, the price of Worldcoin (WLD) bounced but got back to surging.
WLD is available at $10.62 on major spot and derivatives trading platforms; the trading volume targets $1.5 billion in equivalent.
As covered by U.Today previously, a Spanish data protection regulator ordered Worldcoin (WLD) to halt all operations in the country.
NVIDIA conference to blame?
The pump of Worldcoin (WLD) happens amid the decision of its team to postpone the next grant program round on March 25 so that it coincides with NVIDIA-backed GTC AI Conference 2024.
As noticed by pseudonymous DeFi researcher and trader who goes by @thiccyth0t on X (former Twitter), this move costs Worldcoin Foundation $150 million in tokens that were already "priced in" by markets.
— thiccy (@thiccyth0t) March 9, 2024worldcoin postponed their next grant scheduled for two days from now by two weeks or on march 25
this will remove $150mm of new supply that was priced in by a majority market
I don't think the shorts realize this yet and are counting on the grant to bail them out pic.twitter.com/zosHlUHhGN
In a thread shared with his 38,200 followers, @thiccyth0t adds that he will not be surprised by a spike of Worldcoin's (WLD) fully diluted valuation to $200 billion.
To provide context, the FDV of Ethereum (ETH), the second largest cryptocurrency, is $472 billion, while Bitcoin (BTC) sees this metric over $1.4 trillion.