In the cryptocurrency landscape, news plays an important role, and the overall market also gets impacted if investors see any negative news. The same thing occurred in the market after Tesla CEO and Crypto whale Elon Musk sued OpenAI and its CEO Sam Altman for contract breach, as per Thursday’s filing.
Why Worldcoin (WLD) token price fall?
Following the lawsuit against OpenAI, despite bullish sentiment across the cryptocurrency market, Worldcoin’s WLD token experienced a 2.2% price drop. But as of now, due to the bullish sentiment, the WLD token has recovered and surged 3%.
As per Thursday’s filing, Elon Musk claimed a breach of contract against OpenAI and its CEO, Sam Altman, accusing them of violating agreements established in 2015 when Musk allegedly played a role in founding the company. During that period, Altman, who was also a board member and co-creator of Worldcoin, was involved in the controversial project that proposed scanning people’s eyes in exchange for a digital ID and tokens.
This incident reflects a broader trend in the cryptocurrency market, where AI tokens often react to developments within the wider artificial intelligence industry. Earlier this year, a surge in several AI tokens followed positive news from chipmaker Nvidia and the release of a new text-to-video product by OpenAI in February 2024.
Worldcoin (WLD) and other AI token performance
Currently, Worldcoin’s WLD token is trading near $7.8, and in the last 24 hours, it experienced a 1.8% upside momentum after several ups and downs. If we look at the performance of Worldcoin (WLD) in the last 7 days, it experienced a huge 8% downside momentum. However, at the same time, top cryptocurrencies experienced a massive price surge. Whereas, in the last 30 days, the WLD token price has surged more than 240%.
Besides Worldcoin (WLD), other AI tokens like Bittensor (TAO), NEAR Protocol (NEAR), The Graph (GRT), and Render (RNDR) experienced decent price surges in the last 24 hours. However, The Graph (GRT), Theta Network (THETA), Fetch.ai (FET), and SingularityNET (AGIX) surged more than 100% in the last 30 days.
