OpenAI founder Sam Altman’s blockchain project, Worldcoin ($WLD), launched its own blockchain, World Chain, last Thursday. However, the announcement has had little impact on the token’s performance.
Currently, Worldcoin has dropped by 3% in the last 24 hours, trading at $2.33.
Over the past week, the token has only risen by 0.8%, indicating a lackluster response to the recent news.
Worldcoin’s losses come as market leader Bitcoin ($BTC) remains virtually unchanged in the last 24 hours.
The world’s favorite cryptocurrency rose 5.3% over the last week to trade at $68,194.
OpenAI’s Worldcoin Banks The Unbanked On World Chain
Worldcoin launched with an ambitious premise to bank the world’s unbanked.
Anyone who wants some $WLD tokens has to visit a biometric eyeball scanner called the ”Orb” (found in several major cities worldwide) and submit a snapshot of their eyeballs.
The protocol then uses the data alongside verification of government-issued ID to confirm a user’s personhood before distributing coins to them.
But many are worried, including Ethereum creator Vitalik Buterin who wrote a blog post listing his concerns of the protocol’s privacy, accessibility, centralization and security and said it could take years for it to work.
Lawmakers in Mexico, Malaysia and Argentina have aired similar concerns.
With the launch of World Chain, Worldcoin’s 15 million verified users have come on chain.
Worldcoin’s Proof-of-Personhood protocol is that it cultivates a blockchain where transacting is done by humans, not by bots, which could arguably improve chain security.
According to the price chart, Worldcoin rose close to 50% in the last month alone and is now challenging a $3 resistance level set earlier this summer.
A falling relative strength index (RSI) of 42 indicates the coin could be oversold by the weekend.
This is likely to stabilize the price throughout the weekend as support for the token crystallizes at its current level.
While World Chain’s launch may have been anticlimactic, the token could easily be appreciated between now and New Year.
At this rate it may not surpass its former all-time high of $11.74, set back in March, going into 2025.
While Worldcoin Dips, Crypto All-Stars Raises Over $2.5 Million
Given the many concerns over the privacy and security of Worldcoin, investors looking to support innovation in Web3 should cast their nets wide to diversify their portfolios and hedge against risk.
Over in the world of meme coins, some of Web3’s biggest builders are creating new projects to add value and utility to the much maligned sector.
One example is Crypto All-Stars, a new protocol that lets crypto fans put their meme coins to work.
While meme coins’ inherent volatility is what attracts people to them, their whimsical nature also hinders their utility. Now, one team has found a way for meme coin holders to generate consistent value from their holdings.
Crypto All-Stars is a unified staking protocol that allows users to earn serious rewards by combining the world’s most celebrated meme coins.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them in the MemeVault and earn passive income in the form of $STARS with a rewards rate currently set at 592%.
The team will integrate more meme coins later.
The project has gained so much popularity that its presale has already raised over $2.5 million.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
The post Sam Altman’s Worldcoin Wobbles as World Chain Launches – Here’s Why You Should Be Watching appeared first on Cryptonews.
This articles is written by : Fady Askharoun Samy Askharoun
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