Why Is Worldcoin Rising While Bitcoin Falls?

CoinGlass data showed that traders betting against WLD were hit hardest, with about $241,590 in positions wiped out over the past hour.

• Worldcoin rose over 7% on Saturday, extending a run that has it up roughly 23% over seven days and 61% over a month.
• Total value locked on World Chain, the layer-2 network run by the same project, climbed 12.28% over 24 hours, according to DefiLlama data.
• The move comes as President Greg Brockman signed for OpenAI instead of CEO Sam Altman, chairman of Tools for Humanity, which makes Worldcoin. 

Worldcoin (WLD) edged higher on Saturday, outpacing Bitcoin (BTC) on daily gains as activity on its own blockchain picked up alongside it, as the apex cryptocurrency traded below $85,000.

Total value locked (TVL) on World Chain, which is the Ethereum (ETH) layer-2 network run by the same project behind the WLD token, rose 12.28% over 24 hours to $45.12 million, according to DefiLlama data. 

The token's move extended a longer run, and WLD was up roughly 23% over seven days, 61% over a month, and 25.2% so far this year, or year-to-date (YTD). 

Worldcoin was one of the top-trending tickers on Stocktwits. WLD’s price was up over 7% during the past 24 hours in comparison to Bitcoin's price which fell over 2%.