Worldcoin Surges Amidst AI Sector Buzz and Bitcoin Slump
Worldcoin (WLD) is gaining momentum as its price rose over 7% on Saturday, extending a run that has it up roughly 23% over seven days and 61% over a month. The token's move comes amidst a decline in Bitcoin (BTC), which traded below $85,000.
Total value locked on World Chain, the layer-2 network run by Tools for Humanity, climbed 12.28% over 24 hours to $45.12 million, according to DefiLlama data. This growth is linked to an increase in activity on its own blockchain alongside Worldcoin's price.
The move is seen as a response to recent developments in the AI sector, with Worldcoin and Tools for Humanity being linked to OpenAI through their chairman, Sam Altman. The rally comes after six executives signed a voluntary AI safety commitment at the White House last week, including OpenAI President Greg Brockman.
As a result of Worldcoin's rise, bets against it were burned, with WLD positions worth about $241,590 being wiped out over the past hour. This is roughly 82% higher than Bitcoin's corresponding figure, despite Bitcoin's larger market cap.