Solana Price Prediction: ChatGPT Forecasts $1,000 In 2024

AI Chatbot ChatGPT from OpenAI has forecasted a tremendous price movement for the Solana (SOL) cryptocurrency, indicating an 8x price surge for the token from its current price level.

Solana To Hit $1,000 By 2024

ChatGPT believes Solana is well positioned for a bullish run, expecting to be at the $1,000 mark by 2024. The bot’s prediction results from positive market developments and the broad use of the cryptocurrency’s blockchain.

The bot has also been seen predicting that the price of SOL could reach $1,000 by the end of 2024. This is due to the cosmic surge of innovations and widespread adoption. 

Solana propelled by a cosmic surge of innovation and widespread adoption, could potentially reach a stellar price of $1000 by the end of December 2024.

ChatGPT

ChatGPT‘s prospects seem promising due to several recent factors that spark growth for the cryptocurrency. The crypto’s blockchain has recently garnered strong interest from the cryptocurrency community.

Its excellent performance, minimal transaction costs, and scalability have drawn an increasing number of users and developers. This sparks increased adoption of Solana-based innovations, positioning the digital asset for a potential price increase.

In addition, the crypto asset’s increase in demand for leverage longs could also buttress this prediction. SOL reached its highest level of futures open trade since its all-time high price of $260 in November 2021.

The demand for the cryptocurrency is anticipated to increase as the Solana ecosystem grows, pushing up the asset’s price.

The crypto’s asset Total Value Locked (TVL) is not left out. Solana’s TVL recently experienced a significant surge in its TVL. Its TVL was approximately valued at $409.68 million, but now $584.59 million, indicating over a 42% increase, according to DefiLlama.

Current Market Trend Sparks Price Increase For The Cryptocurrency

Another factor that could propel the asset’s price is the current bullish sentiment of the cryptocurrency market. Without a doubt, Solana has been the market’s most optimistic large-cap cryptocurrency this year.

SOL has increased by approximately 550% since the beginning of 2023. This puts it at the fifth position among all the top 100 cryptocurrencies in terms of performance.

Last week, SOL experienced a significant price surge, reaching its yearly high of $68. Due to the general attitude of the market, the price of Solana could thrive in this conducive atmosphere.

Currently, the crypto asset is trading at approximately $60 as of writing, indicating a 0.21% increase in the past 24 hours. Its market capitalization is currently valued at $25,435,629,906, indicating the same percentage increase in the past 24 hours, according to CoinMarketCap.

Solana

Sam Altman’s Worldcoin Token Makes Headlines With 24% Surge Amid OpenAI Drama

The narrative around Sam Altman and OpenAI seems to have had a major impact on the value of WLD, the token that Worldcoin, a cryptocurrency that Altman co-founded, is issuing.

As the drama surrounding Sam Altman’s dismissal from OpenAI and possible reinstatement continues to captivate the crypto space, the Worldcoin digital token has been one of the most unpredictable in the cryptocurrency market as of late.

As of today, the trading price of Worldcoin (WLD) has reached $2.43, indicating that the cryptocurrency has made a strong recovery. In comparison to the previous 24 hours, this is a significant gain of 19%, with an impressive 24% rally in the last week, data from crypto price aggregator Coingecko shows.

Worldcoin’s Unpredictable Market Behavior Amid Altman’s Controversy

From a high of $2.50 on November 16, WLD started to weaken as digital asset markets backpedaled the next day, with Altman’s dismissal only making the decline worse. In the hours following his departure, the token dipped to $1.85 according to statistics compiled by CoinGecko.

As artificial intelligence (AI) develops at a rapid pace, Worldcoin is working on a digital identity network that will collect retina scans to verify users’ identities.

The project’s orbs collect users’ retina scans, and in return, they give users WLD tokens as a compensation for giving their biometric data.

Events at OpenAI, which Altman acted as a go-between for Worldcoin and, by extension, WLD, continue to impact WLD price, even though the two projects are unrelated.

With a market value of approximately $280 million, the token holds the 160th position in the crypto market, as reported by CoinGecko on Monday.

The surge in the token’s value is intricately linked to the news surrounding Altman and the uncertainties arising from his removal at OpenAI, according to Richard Galvin, co-founder at Digital Asset Capital Management.

Altman As The Face Of Worldcoin: Impact On Investor Appeal

As events unfolded, the token experienced a rebound, gaining momentum as it became evident that there was no significant negative event fueling the board’s decision.

Digital asset platform VDX’s head of research in Hong Kong, Greta Yuan, predicted that WLD will experience additional volatility in the coming weeks.

Altman is the face of Worldcoin, so depending on how this drama plays out in the next few days, the token may fluctuate, but its appeal to investors will not diminish, Yuan said.

Meanwhile, even though OpenAI’s stock dropped to $2.04 over the weekend after the announcement of Altman’s resignation as chief executive, the company’s efforts to reassign his role as CEO helped propel the stock back up.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Business Wire

Worldcoin (WLD) Crashes By 11% As OpenAI Pushes Out Sam Altman

Worldcoin (WLD) experienced a sharp decline in its market price on Saturday after its founder, Sam Altman, was removed as the CEO of popular artificial intelligence company OpenAI. This development follows the heavy regulatory scrutiny on the crypto project due to privacy concerns.

OpenAI Votes Out Sam Altman, Cites Loss Of Confidence

In a shocking development on Friday, OpenAI announced a leadership change, stating that Sam Altman will immediately exit the company as its CEO. 

In this statement, the company expressed its gratitude to Altman for contributing immensely to their development during his four-year tenure as their global leader. 

However, after an intense review process by the board of directors, it was concluded that the Worldcoin founder had not been fully honest in his exchanges with the board, leading to a loss of confidence in his ability to continue his duties as CEO.

Following Altman’s departure, Mira Murati, OpenAI’s chief technology officer, will now act as interim CEO pending the appointment of a permanent successor.

However, as one could expect, Altman’s removal as OpenAI CEO, combined with the scathing statements in the company’s announcement, has created a negative sentiment around the Worldcoin project. 

According to data from CoinMarketCap, WLD is currently down by 12.75% over the last 24 hours. Meanwhile, the token’s daily trading volume has managed to remain afloat with a 15.13% gain.

What Next For Worldcoin? 

Worldcoin was officially launched in July with the goal of creating the largest digital identity and financial network. The project relies on the use of iris-scanning orbs to physically admit new members, prompting concerns about privacy, anonymity, and user data protection.

After Altman’s departure from OpenAI, there are currently speculations on Worldcoin’s future trajectory. Clearly, Worldcoin benefited from Altman’s visibility as OpenAI’s CEO, as reflected in the token’s current downtrend.

Notably, WLD gained by over 25% in October, with many analysts citing anticipation of the OpenAI developer conference in November as the driving force. 

Therefore, the removal of Altman from OpenAI may not bode well for Worldcoin in terms of credibility and public investor sentiments. On the other hand, Worldcoin could soon recover from its market slump and rise to higher heights despite this new challenge. 

Following its public official launch in July, Worldcoin came under much criticism from global regulators who expressed concerns over operations in regard to the collection of data using iris scanning orbs and the potential applications of user data. 

Notably, Worldcoin has been suspended from Kenya, while the governments of the United Kingdom and Germany have opened investigations into the project’s operation. 

However, the crypto project has remained resilient despite these regulatory hurdles, marking a milestone of 4 million app downloads and 1 million monthly active users, as reported earlier in November.

At the time of writing, WLD trades at $1.85, with a 0.86% decline in the last hour. Meanwhile, the token’s market cap stands valued at $211.37 million.

Worldcoin