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  • Crypto

January 22, 2025, 11:03 PM

Worldcoin Network, Founded by Sam Altman, Sees Gains Amid Bitcoin and Ethereum Declines Linked to OpenAI's Project Stargate

$BTC Bitcoin $102,232.25 -1.37%

$ETH Ethereum $3,227.24 -0.43%

Comments

World Network (WLD) made waves in the cryptocurrency market on Wednesday. This surge came amid excitement around OpenAI's ambitious Project Stargate, valued at $500 billion.

So, what happened? WLD, the native currency of the decentralized identity verification project, jumped over 4%. This made it the third best-performing cryptocurrency in the last 24 hours. Its trading volume also spiked by 22.50% to $819 million, showing strong buying interest.

This rally happened even as major cryptocurrencies like Bitcoin (BTC/USD) and Ethereum (ETH/USD) faced declines of 2.71% and 3.19%, respectively.

See Also: Michael Saylor’s Proposal to Increase MicroStrategy’s Share Count Approved by Shareholders — More Bitcoin Purchases Ahead?

Why It Matters

This uptick follows President Donald Trump's announcement of an AI infrastructure joint venture in the U.S. OpenAI, a leading AI research company, will take on operational responsibilities. Notably, Sam Altman, the company's CEO and co-founder, launched the World Network project, previously known as Worldcoin, last year. The coin's value has often reacted positively to developments surrounding Altman and OpenAI.

The project collects people's iris data to verify their identity and creates digital IDs, allowing them to receive free WLD tokens. However, it has faced scrutiny from governments due to privacy concerns. The project has been banned in Hong Kong, Kenya, and Spain.

Price Action

As of now, WLD is trading at $2.25, up 4.31% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, this cryptocurrency has gained 7.56%. However, last year, it saw a drop of 42%.

Image by CryptoFX on Shutterstock

President Trump Signs Executive Order to Pardon Silk Road Creator Ross Ulbricht

Market news and data are brought to you by Benzinga APIs.

Posted In: Cryptocurrency News, Markets, Movers, Trading Ideas, OpenAI Project Stargate, Sam Altman, World Network, Worldcoin

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