Worldcoin (WLD), the token of Sam Altman’s retina-scanning project of the same name, saw major volatility over the past few days as he was ousted from OpenAI, reported to be in talks to make a return before finally being replaced.
WLD saw a Nov. 16 high of $2.48 before starting a slide that accelerated after Altman was outed by OpenAI late on Nov. 17 in the United States which saw it drop to a low of nearly $1.84, according to CoinGecko data.
It bounced back, surging 12% over the past 24 hours to reach an intraday high of $2.54 during Monday morning Asian trading then again dropped to $2.30 after Altman was replaced as CEO by Twitch co-founder Emmett Shear.
Altman co-founded Worldcoin which launched in July. While the project is separate from OpenAI, WLD’s initial rebound came after reported efforts by a group of OpenAI executives and investors to reinstate Altman as CEO of the artificial intelligence firm.
Worldcoin is a digital identity platform with ambitions to build a World-ID and financial system using retina scanning technology to authenticate humans amid a rise in AI technology.
Worldcoin’s launch polarized the crypto community who raised questions about its centralization, privacy, and security.
AI-related crypto assets have been outperforming over the past 24 hours, with the market capitalization of AI-related tokens notching a 7.2% rise to $6.5 billion with tokens such as Fetch.ai (FET), SingularityNET (AGIX), and Akash Network (AKT) notching up double-digit gains according to CoinGecko.