Worldcoin Surges Past Bitcoin as Total Value Locked on World Chain Soars

Worldcoin (WLD) continued its impressive run, rising over 7% on Saturday and extending its gains to 23% over the past seven days and 61% over a month. This outpaced Bitcoin (BTC), which fell by over 2% during the same period. According to CoinGlass data, traders who bet against WLD were hit the hardest, with approximately $241,590 in positions being wiped out over the past hour.

Total value locked on World Chain, the layer-2 network run by the same project, climbed 12.28% over 24 hours to $45.12 million, according to DefiLlama data. This increase in activity on World Chain is likely contributing to the rise in WLD's price. The token's move comes as President Greg Brockman signed for OpenAI instead of CEO Sam Altman, chairman of Tools for Humanity, which makes Worldcoin.

WLD's retail sentiment on Stocktwits improved to the 'extremely bullish' zone from the 'bullish' zone, while chatter around it stayed at 'high' levels over the past day. This shift in sentiment is likely a contributing factor to the token's rise in price. The longer view is the reverse, with $343.96 million being liquidated over 24 hours, and $305.45 million of that coming from long positions, which are bets that a price will rise.