World Network (WLD) Outperforms Bitcoin and Ethereum With 50% Surge

WLD, the native currency of the decentralized identity verification project, jumped 57.48% in the last seven days, becoming the sixth-largest market gain in the period.

World Network (WLD) outperformed some of the market’s most valued cryptocurrencies after soaring more than 50% over the week.

What Happened: WLD, the native currency of the decentralized identity verification project, saw its price surge 57.48% in the last seven days, making it the sixth-largest market gain in the period.

The rally outgained returns by market heavyweights Bitcoin BTC/USD and Ethereum ETH/USD, which trailed at 10.17% and 11.12%, respectively.

Over the week, the daily active addresses have seen seen a greater than 100% increase, while large whale transactions, valued at over $100,000, saw a 393% surge, according to IntoTheBlock.

Speculative interest also saw a strong uptick, with Open Interest in WLD's derivatives surging to a 3-month high of $340 million, according to Coinglass. Over 67% of Binance traders who had an open WLD position were betting on its price increase.

See Also: SEC Zooms In On Nayib Bukele-Led El Salvador’s Crypto Regulation Model

Why It Matters: The searing rally comes ahead of the World Network's upcoming event being hosted by its founder and well-known tech entrepreneur, Sam Altman.

The San Francisco event, called "At Last," could see major updates for the network and the cryptocurrency, providing further impetus to the rally.

During the last such event in October 2024, the project rebranded itself from "Worldcoin" to simply "World" and announced the launch of World Chain, an Ethereum ETH/USD Layer-2 network.

Building the largest human network for the age of AI takes all of us.You're invited ✉️https://t.co/0wbBPo4PEZ pic.twitter.com/zZLAliGXBH

World Network captures people's irises to confirm their humanness and grant them eligibility for free WLD tokens.

However, it has been mired in controversy over concerns of personal data privacy, leading to it being outlawed in Hong Kong, Kenya, and Spain.

Price Action: At the time of writing, WLD was exchanging hands at $1.16, up 18.60% in the last 24 hours, according to data from Benzinga Pro.

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