In a recent turn of events, Worldcoin’s WLD token has seen a big jump in value thanks to the renewed backing from OpenAI CEO Sam Altman. Altman publicly stated his commitment to the Worldcoin project and his plan to invest an additional $50 million to push the ambitious cryptocurrency initiative.
In response to Altman’s commitment, the price of the WLD token saw a significant increase, rising from $2.42 to $3.22 in a short period of time. What’s interesting about this surge is that there were some early signs that it might happen.
OpenAI CEO Sam Altman has doubled down on his vision for the cryptocurrency project Worldcoin, following reports the company was seeking $50 million in funding pic.twitter.com/LFsdE1naTM
— Reuters Business (source) December 16, 2023
Ali_charts noticed some early signs of unusual on-chain activity just one day before this surge. In particular, recent on-chain movements within the Worldcoin ecosystem have raised eyebrows, including a significant outflow of 3.6 million $WLD tokens from exchanges.
At the same time, there has been a notable increase in whale transactions, indicating that major WLD holders might be preparing for a big price movement.
Over 3.6 Million WLD Exchange Outflows Recorded
Sharing insights on X (formerly Twitter), Ali remarked, “Worldcoin is witnessing some interesting on-chain activity! A massive exchange outflow of 3.6 million $WLD has coincided with a spike in whale transactions. This may indicate #WLD whales are gearing up for a big price move.”
#Worldcoin is witnessing some interesting on-chain activity! A massive exchange outflow of 3.6 million $WLD has coincided with a spike in whale transactions. This may indicate #WLD whales are gearing up for a big price move. pic.twitter.com/75BIVZCM8l
— Ali (@ali_charts) December 14, 2023
With Worldcoin actively seeking additional funding to advance its objectives, the combination of Altman’s strong support and the resulting surge in the WLD token’s price underscores the complex dynamics at play in cryptocurrency markets, which are influenced by investor sentiment and strategic moves.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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