WLD surged 26.5% after Altman’s departure, sparking speculation.
Large WLD deposits pre-surge hint at insider activity.
Altman’s exit stirs confidence in Worldcoin’s future.
Worldcoin (WLD) experienced a remarkable surge of 26.5% in value, skyrocketing to $2.65 following the high-profile departure of Sam Altman, the CEO of OpenAI and an advisory figure at Worldcoin developer Tools for Humanity.
This abrupt rally left the cryptocurrency community intrigued, pondering the catalysts behind WLD’s sudden ascent. Insights from on-chain analyst Lookonchain revealed substantial deposits of WLD onto exchanges just before the surge—a move hinting at potential insider knowledge. A staggering 1.83 million WLD, valued at $4.47 million, swiftly entered exchanges within a mere seven-hour timeframe, further intensifying speculations.
Affected by the news of #OpenAI ex-CEO Sam Altman(@sama), the price of $WLD experienced huge fluctuations and reached an all-time high.The market maker #GSR deposited a total of 1.83M $WLD ($4.47M) to exchanges in the past 7 hours.https://t.co/YN7DSxxWoO pic.twitter.com/qKxLE9DLhU
— Lookonchain (@lookonchain) November 20, 2023
While the precise triggers for the rally remain ambiguous, Worldcoin’s close association with Altman seems pivotal. Altman’s recent forced departure from OpenAI, capturing attention in tech spheres, sparked speculation about increased involvement with the Worldcoin project. This shift in his professional commitments raised optimism among some investors, who see Altman’s focus potentially redirected toward Tools for Humanity and, consequently, Worldcoin’s development.
Altman’s exit from OpenAI ignited anticipation within the crypto community, fostering hopes for a potential revitalization within Worldcoin. The 26.5% surge in WLD’s price appeared to reflect bets on Altman leveraging his renowned startup expertise to propel Worldcoin’s ambitious vision forward.
Nevertheless, Worldcoin’s actual utility and technology are still largely conceptual, with the token not widely adopted yet, potentially riding on Altman’s reputation. This surge, while significant, experienced a swift downturn, with the price plummeting 6.7% from its peak, settling at $2.28.
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The post Worldcoin Surged 26.5%: A Look Behind the Sudden Rally appeared first on Crypto News Land.
