Worldcoin, which is the native token of the OpenAi-founded “privacy-preserving digital identity (World ID)” project has surged on July 24 after being listed on major cryptocurrency exchanges.

At the time of writing, WLD traded at slightly above the $2 mark which reflects a gain of nearly 35% in the day. WLD’s one-day wonder catapulted beyond the capabilities of major cryptocurrencies on the day, including Bitcoin (BTC), Ether (ETH) and XRP (XRP).

WLD’s price behavior was volatile to say the least – jumping as high $3.31 and dropping as low as $1.91 during the past 24 hours.

The token issued 143 million WLD tokens with 100 million of those allocated towards market makers and the rest were received by verified investors which scanned their iris during the pre-launch phase of Worldcoin.

Worldcoin has a fully diluted market capitalization which surpasses $22 billion, with only 1% of the total supply currently in circulation. This may raise eyebrows in the crypto community, especially concerning WLD’s price stability and long-term valuation.

Sources:

https://cointelegraph.com/news/worldcoin-launch-raises-eyebrows-as-wld-price-notches-a-double-digit-gain

https://coinmarketcap.com/currencies/worldcoin-org/