The post Why Worldcoin became a bit too volatile recently appeared on BitcoinEthereumNews.com.

Journalist Posted: November 23, 2023 Market depth has trended downwards since mid-September. Sam Altman’s rehiring could result in another bout of volatility for WLD. Worldcoin [WLD] has exhibited considerable volatility of late, largely tied to the sacking and rehiring episodes of founder Sam Altman. When the news of the tech entrepreneur’s dismissal went public last week, WLD tumbled more than 15%, AMBCrypto observed from CoinMarketCap’s data. However, as the drama extended with speculations of his comeback, the biometric crypto started to recover. And boy, oh boy! The saga just got more interesting as OpenAI announced an agreement that could pave the way for Altman’s return to the AI research company. We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo. We are collaborating to figure out the details. Thank you so much for your patience through this. — OpenAI (@OpenAI) November 22, 2023 While WLD traded at $2.4 at press time, a sharp pump to the north may be likely, considering how strongly the coin reacted to such developments lately. But what could possibly explain the surge in the token’s volatility? This could be the reason According to crypto market data provider Kaiko, the decline in WLD’s market depth might have contributed significantly to the token’s fluctuations. The market depth has trended downwards since mid-September, data showed. Source: Kaiko Market depth is an exchange’s ability to absorb relatively large market orders without materially affecting the asset’s price. Simply put, it is a measure of liquidity in the market. It’s the market makers who provide the major chunk of liquidity on exchanges. During its launch, Worldcoin’s creators loaned about 100 million to five market makers. However, as part of the changed…

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Filed under: News - @ November 23, 2023 7:20 am