The artificial intelligence (AI) impact on key global sectors cannot be ignored if Nvidia’s (NVDA) rise to the top is anything to go by. Closer home, an AI crypto boom seems to be on the horizon, with Worldcoin price likely to lead the pack.
Nvidia Becomes The World’s Largest Company
A Reuters report earlier this week stated that Nvidia had overtaken Microsoft to become the world’s largest company. The meteoric rise to the top was fuelled by the ever-growing demand for its high-end processors in the artificial intelligence industry.
At the time, NVDA shares had surged to $135.58, bringing the company’s valuation to $3.335 trillion. The highly publicized development occurred several days after Nvidia toppled Apple (AAPL) to take the second position in global companies in terms of market cap.
Based on Yahoo Finance, Nvidia’s market cap had dropped to $3.115 trillion, with the share price at $127, indicating a 3% correction on the day.
Nvidia’s rise to the peak is attributed to the fast-growing AI industry. Companies and businesses are racing to build AI tools that automate operations, research, and development—all to come out at the top of the competition.
The crypto industry, known for its agility and ability to adopt new technologies, has not been left behind. Many projects are tapping blockchain technology, blending it with artificial intelligence, and building futuristic ecosystems.
Worldcoin for instance is a brainchild of Sam Altman, the CEO of Open AI, one of the biggest and most influential players in the AI sector. The platform leverages artificial intelligence to provide people with a global identity (ID).
Worldcoin became popular for collecting biometric data from people around the world and rewarding them with WLD tokens. The organization behind the platform markets itself as humanitarian, aiming to eradicate poverty by providing people with an income.
Worldcoin’s association with AI continues to fuel its success in the market. The token exploded to a new all-time high in March at $11.74, from an all-time low of $0.9731. It currently trades at $3, marking a 217% premium from its lowest point.
Meanwhile, the AI craze in the crypto market is just getting started with the sector rising cumulatively by 2.4% according to CoinGecko data. Some of the leading coins in this sector are Near Protocol (NEAR), Fetch AI (FE), Internet Computer (ICP), Bittensor (TAO), and Ocean Protocol (OCEAN) among others.
Can Worldcoin Price Lead AI Crypto Rally?
After breaking out of the range between $4 and $6 to the downside, Worldcoin price gave sellers the leeway to trigger a sell-off to $2.5—a primary support area.
Since the Relative Strength Index (RSI) is oversold, WLD seems poised to resume the uptrend. Traders would zero in on the coin if the RSI continues with the recovery into the neutral area and toward the overbought. Breaking above the descending trendline could spur a major rally to the broken support levels at $4 and $6, respectively.
With such a recovery, other AI crypto coins may follow in the footsteps of WLD, thus starting a sector-wide rally.
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