Worldcoin (WLD) Price Spikes 24% Amid OpenAI Drama: What’s Behind the Surge?

• On Monday, Worldcoin (WLD) price surged fueled by the announcement that Microsoft has officially hired former OpenAI’s CEO Sam Altman to lead a new advanced AI research team after the negotiation with OpenAI’s board members reached an impasse.
• The speculation on the future of the Worldcoin ecosystem with the $2.75 trillion valued tech giant has sparked enthusiasm among the WLD investors despite some whales being spotted on a selling spree.

As the OpenAI vs Microsoft drama unfolded over the weekend following the forced ouster of Sam Altman by the OpenAI board members, crypto smart money rushed to speculate on the Worldcoin (WLD) project. According to market data provided by Binance-backed Coinmarketcap, the WLD coin has seen its daily average traded volume spike by about 76 percent to about $359 million, high than its market capitalization of about $274 million, a characteristic of an imminent bullish breakout.

Consequently, over $3 million in the WLD derivatives market was liquidated in the past 24 hours. Notably, the Worldcoin project has experienced notable headwinds with regulations in several jurisdictions over its mode of storage for the collected data.

However, the move by Microsoft to hire Altman directly is likely to help clear the way for WLD’s mainstream adoption.

Closer Look at the Worldcoin Project Amid the Altman Move

Earlier on Monday, the Chairman and the Chief Executive of Microsoft, Satya Nadella, announced that Altman and Greg Brockman will be joining the tech behemoth to lead a new advanced AI research team.

Notably, Altman had previously engaged the OpenAI board members for his return but the discussion hit a dead end despite the future of ChatGPT being in limbo. Moreover, Altman had warned that his stake at the company would be reviewed henceforth following the drama in the past few days.

Remember that Microsoft is a major investor in OpenAI, thus making the future of ChatGPT thinner with the tech giant despite the ongoing relationship with the Azure project.

Following the developments, several Worldcoin whales led by GSR Markets, a veteran over-the-counter (OTC) venture capital, deposited over 1.8 million WLD coins worth more than $4.33 million to different crypto exchanges including Binance, Bybit, Gate.io, and KuCoin. Nonetheless, the Worldcoin whales still hold a significant amount of WLD coins as the future of the digital identity network gets a fresh catalyst.

Worth noting that the Worldcoin project has been building during the crypto winter including the recent upgrade meant to help reduce the overall load on Ethereum’s Optimism by about two-third, through batching up and compression of data.

WLD Price Analysis

Having gained about 63 percent to trade around $2.41 on Monday amid the ongoing altcoin recovery, WLD price is teasing to rally further in the coming weeks. Moreover, the daily 50 Moving Average (MA) has acted as a strong support level since early September.

With the daily Relative Strength Index (RSI) attempting to push through 70, the small-capped altcoin will definitely breakout amid the heightened speculations.