Alameda Research’s Investment Surges Beyond $50M as Worldcoin Price Reaches Record High
The remarkable 200% surge in the value of Worldcoin’s WLD token has grabbed the attention of market participants. This surge could potentially benefit creditors of prominent investment firms like Three Arrows Capital (3AC) and FTX, according to Su Zhu in his X post. However, there is a significant obstacle in the way: the scheduled unlocking of tokens worth $165 million is set to occur until February 26th, as per data from Token Unlocks.
Worldcoin’s ambitious project revolves around the controversial concept of scanning individuals’ eyes in exchange for a digital ID and tokens. These tokens are distributed based on early involvement, spread out over two years, with 10% immediately available through the Orb’s wallet app.
Fueling speculation, Three Arrows Capital’s involvement in Worldcoin includes a notable $25 million investment in the project’s developer, Tools For Humanity, which has recently been valued at a substantial $1 billion. Similarly, FTX’s founder, Sam Bankman-Fried, entered the scene as an early investor.
Although Zhu himself may not personally benefit from WLD’s performance, he is satisfied knowing that 3AC creditors hold significant WLD positions globally, despite the skepticism surrounding the investment in Worldcoin in 2021.
Another party likely to benefit from the token’s rise is the FTX estate. However, this is clouded by the fact that Bankman-Fried is currently facing fraud allegations following FTX’s bankruptcy. Bankman-Fried’s accounts received $185 million in WLD tokens in August 2023, according to SpotOnChain. Blockchain transactional history shows the same Worldcoin address sent $35 million to $170 million to multiple addresses in the same month.
The 50% increase in WLD’s value is not coincidental; it aligns with the launch of Sora, a text-to-video generator developed by OpenAI. This connection to OpenAI, a company sharing the same founder, Sam Altman, as Worldcoin’s parent company, has led some traders to view WLD as a speculative bet on OpenAI’s potential success.
Despite criticisms, WLD’s price surge, approaching the $8 mark, aligns with the bullish outlook shared by analysts and 3AC co-founder Su Zhu.
As for Worldcoin’s future, it is currently at its peak and expected to surpass all-time highs and reach over $7, pushing its valuation to an impressive $75 billion. It is worth noting that this surge coincides with a planned release of 10 billion WLD tokens over 15 years, with initial allocations subject to a one-year lock-up period.
Similarly, analyst Ali Martinez has also predicted Worldcoin’s breakout from an ascending parallel channel on its daily chart, suggesting a potential rise to $15, possibly even $26. This surge is driven by factors such as whale accumulation, which has boosted prices by nearly 25%, and the growth of the project’s wallet, World App, further supporting upward momentum.
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