Worldcoin (WLD) is a Terrible Cryptocurrency

Daniel G. Jennings
Coinmonks
6 min readJul 27, 2023

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Worldcoin (WLD) was CoinMarketCap’s most trending cryptocurrency on 27 July 2023. Conversely, Worldcoin is one of the worst cryptocurrencies I have seen.

Yet Mr. Market disagrees with my opinion of Worldcoin. CoinMarketCap gave WorldCoin a Coin Price of $2.10, a Market Capitalization of $231.789 million, a Fully Diluted Market Cap of $20.924 billion and a 24-Hour Market Volume of $178.450 million on 27 July 2023. Moreover, Worldcoin was CoinMarketCap’s 123rd largest cryptocurrency on 27 July 2023.

Thus, some traders and speculators think Worldcoin has value. Others will remember Benjamin Graham’s old canard: “Mr. Market is insane.” Thus, skeptics will wonder is Worldcoin for real, or the latest example of Mr. Market’s insanity?

So What is Worldcoin (WLD)?

Worldcoin (WLD) is a routine decentralized finance (DeFi) product that is attracting enormous attention because of a celebrity connection and a sensational piece of technology.

The celebrity is OpenAi Chairman Sam Altman. Altman is a Silicon Valley Maverick known for co-founding, Loopt, YCombinanator, and OpenAi. One reason for Altman’s popularity is his association with OpenAi partner Elon Musk. In 2023, OpenAi is attracting enormous amounts of attention because of its popular ChatGPT, artificial…

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Daniel G. Jennings
Coinmonks

Daniel G. Jennings is a writer who lives and works in Colorado. He is a lifelong history buff who is fascinated by stocks, politics, and cryptocurrency.