The controversial eye-scanning biometric crypto project Worldcoin (WLD) has skyrocketed by nearly 185% and set a new all-time high this week as its user count passed a pivotal milestone.

The project’s native asset, WLD, is trading at $7.40 at time of writing, up from $2.60 one week ago and $2.48 a month ago.

The 89th-ranked crypto asset by market cap also set a new all-time high of $7.95 on Monday morning. Despite partially retracing since then, WLD is still up nearly 22% in the past 24 hours.

Worldcoin, which was co-founded by OpenAI chief executive Sam Altman, announced on Saturday that World App, the first wallet built for the project, surpassed one million daily users this past week.

Source: Worldcoin/X

Worldcoin’s Orb is a helmet-shaped peripheral that scans people’s eyes to verify their identity.

To use it, traders must first download the Worldcoin app, obtain a compatible crypto wallet and then visit an Orb to receive their identification, or World ID. The project has generated privacy concerns around the globe.

Alameda Research, the former trading arm of bankrupt crypto exchange FTX, holds 25 million WLD worth $171 million, according to the blockchain analytics platform Spot On Chain. Alameda received the WLD from the Worldcoin Mint back in August.

Generated Image: DALLE3

The post Sam Altman’s Worldcoin (WLD) Explodes 185% As Wallet Users Break 1,000,000 Mark appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ February 21, 2024 1:12 am