WLD reclaims modicum of mojo
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 26th September 2024.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Worldcoin Spikes As OpenAI Plots To Reap More Of What It Sows
Reports concerning OpenAI's plans to possibly restructure from a non-profit to a for-profit company -- that could be worth $150 billion -- has stoked curiosity about growth prospects for artificial intelligence, and for the personal coffers of OpenAI CEO Sam Altman.
Against this backdrop, Altman's side hustle, Worldcoin (WLD), has recaptured investors' attention over the past 24 hours. WLD surged by as much as 20% to above $2 and concurrently its market capitalization crossed back over $1B. WLD today snagged the 84th rung on the closely tracked crypto ladder that is CoinGecko's Top 100.
Co-founded by Altman, Worldcoin seeks to provide users with a verified digital identity. Even cursory followers of tech news in general might be familiar with the crypto project that wants to scan everyone's eyeballs.
“The goal is simple," Altman has explained in past X posts. "To create a global financial and identity network based on proof of personhood.”
WLD spiking seems to reflect speculation that OpenAI's transition could spell ramped up developments for the Worldcoin platform, giving the token more utility, making it more coveted; at the same time, Worldcoin has just announced expansion in Guatemala, Malaysia and Poland.
However, there's a demand/supply imbalance scenario brewing as markets await next week's unlocking of $74 million worth of WLD tokens.
What's down
HMSTR Dump
Toncoin's getting buzz again but keep in mind that its all-time high remains very much in the rearview mirror. The ATH came back in the middle of June. At that time, TON hit $8.25 amidst various buzz-worthy endeavors, including its wider integration into Telegram and also the success of Notcoin, a play-to-earn game that for a spell captivated users of the communication app. Other Telegram-bred P2E games, such as the widely popular Hamster Kombat, followed suit.
About one month ago, TON shed 16% in 24 hours after Pavel Durov, Telegram's founder, was arrested in France in connection with alleged failures in preventing criminal activities on the app.
In early September, some extensive reporting by The New York Times laid out a litany of allegations surrounding Telegram and its purported role as a "playground for criminals."
It was around that time that TON started to climb from below $5 to nearly $6. As of this morning, TON, tenth-largest digital asset, was $5.80, per CoinGecko. That represents a 2% gain in 24 hours. TON is flat on the week. Which is not to imply there's not an overload of excitement coursing through the TON community right this moment.
Starting today, the Hamster Kombat game project (with 100 million monthly active users) begins minting in-game HMSTR tokens on the TON blockchain. A bullhorn call to validators, to be ready for an activity surge, has been sounded.
Keep in mind, a huge chunk of the HMSTR supply was airdropped to players (many of them left feeling underwhelmed by their allotments) last week and the fledgling gaming asset was just listed on some big exchanges.
According to CoinGecko, HMSTR has a market cap of $560M, large enough to place it within the Top 150. But mass dumping has, not surprisingly, ensued. In just a few hours, HMSTR has declined 30% from $0.012 to $0.009.
What's next
Crypto Could Be Winner No Matter What The Outcome Of U.S. Election
Speaking at the Economic Club of Pittsburgh, Vice President Kamala Harris, Democratic presidential nominee, mentioned a range of emerging technological fields that she wants the United Stated to dominate. Among them are AI, quantum computing and blockchain.
While the crypto community has branded former President Donald Trump, the Republican nominee, as the more crypto-friendly candidate, Harris has begun to make noteworthy overtures with the election now only 40 days off. A few days ago, Harris spoke publicly about crypto for the first time, pledging support for the industry while stressing consumer protections (Cointelegraph).
Analysts see some positive strides coming for crypto assets, regardless of the election's outcome.
“The trend of growing fiscal deficits and rising national debt will likely continue," asserts VanEck researchers. "This suggests a weakening of the dollar, a macroeconomic environment in which Bitcoin has historically thrived."
