Earlier this week, the skyline of the crypto world glittered with excitement as multiple crypto giants such as Binance, Huobi, Bybit, and OKX scrambled to list the Worldcoin’s WLD token. This mad rush towards embracing the new crypto token generated a palpable potpourri of expectations, skepticism, and, most importantly, investment opportunities.
The core driving force behind the WLD token is the brainchild of none other than ChatGPT co-founder, Sam Altman. WLD token, which premiered on Monday, witnessed an impressive hike of an approximate 20% at $2, as per Coingecko data. This sudden burst of popularity has not only drawn attention but also stirred up some questions about the sustainability of this new currency.
Two of the major crypto exchanges, Huobi and Bybit, were among the first to list the token, legitimizing both deposits and trading. The floodgate for withdrawals, however, will only open on Tuesday at 10 a.m. UTC for Bybit, and at the same time for OKX. Traders on Huobi could engage with the WLD/USDT pair, and Bybit sweetened the deal with WLD/USDC. But does the enthusiastic embrace by the major players warrant a similar response from the crypto-enthusiast community, or is there more to the story?
Binance, another major player, played a bit more coy. While agreeing to list Worldcoin, the exchange is tentatively stepping into the waters of trading with pairs for WLD, BTC, and USDT at 9 am UTC on Monday. However, the cautious approach of allowing withdrawals only from Tuesday at 9 a.m. UTC, points towards a sense of caution amidst the excitement.
OKX, on the other hand, decided to gatekeep the deposits for WLD/USDT until the deposits matched the set requirements. The move hints at heightened scrutiny and conservatism.
As much as the sudden surge of WLD seems like an economic jubilee, the wary moves and inherent caution shown by the major exchanges foster a sense of realism. Is this sudden stampede a bubble that might burst soon, or could the WLD token be a beacon of stability in the fickle world of cryptocurrency? Only time will reveal the true nature of this enigmatic token. Until then, the crypto community can either join the bandwagon or observe from the sidelines.
Source: Coindesk
