Worldcoin Surges 7% as World Chain Value Locked Climbs Amid Weaker Market

Worldcoin (WLD) is on the rise, surging over 7% in the past 24 hours to outpace Bitcoin's (BTC) daily gains. This move comes as the Total Value Locked (TVL) on World Chain, the layer-2 network run by Tools for Humanity, climbed 12.28% to $45.12 million.

The rally has been building over the past seven days, with WLD up roughly 23%, and over a month, where it's gained 61%. Year-to-date (YTD), WLD is up 25.2%, a performance that stands out against a weaker market, where crypto market capitalization fell over 2%.

The Worldcoin price action has also led to liquidation of short positions worth around $241,590 in the past hour alone, with CoinGlass data showing this was roughly 82% higher than the damage inflicted on Bitcoin. The longer view shows that most of the liquidated funds came from long positions, which are bets that a price will rise.

The AI link between Worldcoin and its creator, Tools for Humanity, is also drawing attention, with President Greg Brockman signing for OpenAI instead of CEO Sam Altman. This connection to the AI sector has led some to speculate about the potential impact on the token's performance.