World WLD/USD Blasted to the Top of the Cryptocurrency Gainers List Thursday After Raising $135M to Fund Network Expansion

The token, which is related to a decentralized identity verification project, skyrocketed over 24% in the last 24 hours, reaching levels not seen since early February.

World Inc (NYSE:WLD) token blazed through the cryptocurrency leaderboard on Thursday after the Sam Altman-founded project closed a $135 million private sale to fund its network expansion.

What Happened: The token, used for a decentralized identity verification project, shot up more than 24% in the last 24 hours, hitting highs not seen since early February.

The rally pushed WLD's market capitalization to $2.37 billion, its highest in over five months. Its trading volume also soared 165% to $1.06 billion in the last 24 hours.

On-chain activity also spiked, with large transactions, valued at over $100,000, increasing by 62%, and daily active addresses rising by 10.22%, as noted by IntoTheBlock.

Furthermore, WLD's Open Interest exploded over 62% in the last 24 hours, according to Coinglass, signaling strong interest from derivatives traders.

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Why It Matters: The surge comes as the Sam Altman-founded project closed a $135 million private sale of its WLD token to support the project’s expansion in the U.S. and around the globe.

World is an identity verification project that scans people’s irises to verify their humanness and create a digital ID, which allows them to claim free WLD tokens. The project launched in the U.S. earlier this month.

It has sparked discussion about personal data privacy and stands banned in Hong Kong, Kenya, and Spain at the time of writing.

Price Action: WLD traded at $1.54 at the last check, rising 24.89% in 24 hours. The coin has lost more than 25% of its value year-to-date, according to Benzinga Pro.