Worldcoin's price rises amid Sam Altman's potential OpenAI return, with increased interest and market sentiment, but NVT analysis urges caution.
Following rumors of Sam Altman's likely return to OpenAI, the price of Worldcoin (WLD) increased by 25.23% to $2.57. Although there was a small fall in price to $2.43 recently, market sentiment toward WLD has improved.
The hope of Altman's return, which was supported by OpenAI staff as well as major investors such as Microsoft, boosted Worldcoin. On-chain data revealed a change from negative to positive sentiment, with the Weighted Sentiment score notably climbing.
The number of active Worldcoin addresses increased by 22,000, showing higher interest. This gain, combined with the optimistic sentiment, may result in more price volatility, potentially breaking Worldcoin's all-time high.
The market is keeping a close watch on Altman's movements, with recent social media posts hinting at his return to OpenAI. This discovery has the potential to greatly impact Worldcoin's future value.
Analysis of Worldcoin's NVT Ratio Suggests Overheating Network
An examination of Worldcoin's Network Value to Transaction (NVT) Ratio shows that the network may be overheating. Analysts suggest caution in WLD short-term investments due to the high NVT ratio and stand with long-term investments instead.
Below is a chart showing Worldcoin's price movement in the past 7 days