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Did The OpenAI and Microsoft Saga Just Trigger Massive Interest in AI Tokens?

The recent saga surrounding OpenAI and its co-founder Sam Altman has sparked a surge of interest in AI tokens, with total weekly trade volume surpassing $2 billion for the first time since March, fresh data from Kaiko, a blockchain analytics platform, shows.

According to statistics, WLD, the native token on Worldcoin, a project co-founded by Altman, and other tokens, including FET, the primary coin behind the AI-reliant blockchain, Fetch.ai, appear to be primary gainers. Even so, WLD prices remain below November 2023 lows when writing.

Trading volume of AI tokens | Source: Kaiko on X

WLD Remains Volatile 

Even so, looking at market data, the spike in crypto AI trading volume seems driven mainly by WLD activity. Looking at the project’s share, trading volume comprises over 33% of all related crypto AI trading volume. 

While there is a noticeable spike in activity, it remains below the all-time high of above $4 billion in Q1 2023. Then, traders and investors were keen on AGIX, the SingularityNET token. However, over the months, Worldcoin has since taken over as investor interest shifted to WLD, evidenced by the gradual rise of trading volume.

Worldcoin price trending upward on the daily chart | Source: WLDUSDT on Binance, TradingView

Looking at WLD price action over the past three days, prices have been volatile, though trading volume has been mostly up from November 13. Following news of Altman’s removal as CEO of OpenAI, prices fell before slightly expanding with news of negotiations to return to the role, followed by his appointment to lead Microsoft’s AI team. 

All these events have contributed to the market’s heightened interest in WLD. Accordingly, trading volume across the broader crypto AI scene stands above the $2 billion level for the first time since March.  

The Sam Altman And OpenAI Drama Turns Attention To Worldcoin

Though there is no direct connection between OpenAI and Worldcoin, crypto participants focus on events at OpenAI and how the board handled Altman as a factor catalyzing WLD’s activity. 

The general lack of clarity on why the board ousted Altman as CEO worsens the situation, sparking speculation that this could also impact WLD’s prices and how Worldcoin is governed, considering the former CEO is also behind the crypto AI project.

Looking at the co-founder’s previous role as the team leading Worldcoin’s developments, Altman also holds significant sway, contributing to discussions on how the government should regulate AI at the end of the day. 

Altman’s influential role has impacted Worldcoin and its prices since the blockchain project aims to create a global identity system. Worldcoin’s operations would rely on AI, including fraud prevention, data analysis, verification, and more. 

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OpenAI Setback No Match For FET’s 160% Surge: Time To Invest In AI?

The Artificial Intelligence (AI) sector in the crypto space has enjoyed one of the most prominent rallies despite the debacle with OpenAI. The company behind ChatGPT fired one of its founders and CEO, Sam Altman, sparkling downside pressure for AI-based tokens, such as FET.

The native token for Fetch.ai, FET, has been trending to the upside following the general market sentiment. Over the past month, the cryptocurrency recorded a 160% rally, and it’s poised for further profits as it breaches critical resistance levels.

OpenAI FET FETUSDT FET price

OpenAI Controversy Adds Fuel For FET’s Rally

Data from Coingecko indicates that FET’s bullish momentum took a hit last week as news about Sam Altman leaving OpenAI broke. The token has been moving with any development from the broader AI sector, and the uncertainty surrounding this company has impacted its performance on low timeframes.

Over the weekend, FET regained its bullish momentum and reclaimed territory, extending a more significant rally. In that sense, a pseudonym trader looked into FET’s potential target as the cryptocurrency continues “its rally without a dip.”

In the past week, FET breached the resistance at $0.56, targeting its 2022 highs, as seen in the chart below. If the bullish momentum continues, the token could rise to its 2021 highs between $0.70 and $0.90.

OpenAI FET FETUSDT FET price

FET Rally Could End In Massive Correction

Our Editorial Director and analyst, Tony Spilotro, has been bullish on FET’s trajectory. The analyst believes FET could rise 2x to 4x before losing steam and re-visiting support.

In the past, whenever the token followed a similar trajectory, printing a buy signal above the monthly Bollinger Band, as Spilotro stated, FET corrected by an impressive 80%. Thus, the analyst recommended new investors to tread carefully. Spilotro said:

(…) its safe more than likely to buy FET at such levels, so long as you have a plan to get out before the next 70+% correction happens. Otherwise, price could retrace back to your entry here. Be smart and don’t expect the rally to go on forever.

Today, Microsoft announced the hiring of Sam Altman to spearhead a new AI division. The company will commit to providing resources for the new division, which could ignite a new bull era for AI and AI-based tokens.

Cover image from Unsplash, chart from Tradingview

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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

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Cardano Founder Courts OpenAI’s Sam Altman – What Does He Want To Build?

OpenAI recently announced a shocking leadership change with Sam Altman being ousted as CEO. After five years of being at the helm of taking OpenAI from a $0 to $80 billion valuation, the AI company is now at a crossroads with Altman departing and former Chief Technology Officer (CTO), Mira Murati taking over as interim CEO. 

Altman hasn’t provided specifics of his next actions; however, he has posted on social media that he “will have more to say about what’s next later.” In light of this, Charles Hoskinson, the creator of Cardano, sees a window of opportunity. Hoskinson gave the former CEO a bold proposal on social media platform X to join hands in establishing a decentralized language learning model in partnership with the Cardano blockchain. 

Hoskinson Wants To Build A Decentralized Language Learning Model

Charles Hoskinson has a vision for AI that embraces decentralization and openness. As the founder of Cardano and a former co-founder of Ethereum, Hoskinson knows a thing or two about building decentralized networks. Hoskinson’s vision of a decentralized language learning model is ambitious, but promising. 

On the other end, if there’s anyone who knows anything about language learning models, it is definitely Sam Altman. The former CEO is known for being one of the architects of the language models that power ChatGPT, which has gained widespread adoption since its launch in November 2022.

If Altman takes Hoskinson up on his offer, it could mark a turning point in how AI models like ChatGPT are built and how they serve users. A decentralized LLM would essentially be available to everyone and resistant to censorship, tampering, and monopolization by governments and large corporations, which is one of the concerns being raised regarding existing LLMs. 

Aftermath Of Sam Altman’s Removal As CEO

Altmann’s removal as CEO sent ripples around the AI and crypto industries. Greg Brockman, president and one of the co-founders of OpenAI, also announced his departure from the company. 

As one would expect, WorldCoin reacted negatively to the news. According to data from Coinmarketcap, Worldcoin (WLD) dropped by 12.75% in the hours following the news of the CEO’s removal. However, the crypto has since recovered and is now trading at $2.38. 

According to OpenAI’s announcement, the decision to fire Altman was made by the board of directors, as they’ve lost confidence in his ability to continue his duties as CEO due to his lack of transparency in his communications. However, rumors are that OpenAI investors are looking to reinstate Altmann into his job as CEO.

Cardano ADA is trading at $0.375 at the time of writing. According to a crypto analyst, ADA could spike to the $0.78 mark if it is able to break out of the current falling wedge pattern.

Featured image from Pexels

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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