Worldcoin (WLD) surged sharply on June 4 as investment firm Maelstrom, linked to Arthur Hayes, published a research note framing WLD as a liquid crypto proxy for the AI IPO wave. The firm projected the token could reach $5 by August, implying a roughly 10x gain from current levels.
Data from crypto.news shows WLD trading at $0.524859, up 21.01% in the past 24 hours and 62.25% over seven days. Spot trading volume hit $1.49 billion while market cap stood near $1.77 billion.
Maelstrom: AI Mega IPOs Are Coming
Researcher Lukas Ruppert argued that investor demand for private AI exposure has not yet spread to WLD. Worldcoin co-founded by OpenAI CEO Sam Altman runs a digital identity network — a core AI narrative vehicle. “The AI mega IPOs are coming,” Ruppert said. Maelstrom highlighted that WLD’s unlocked market value remains tiny compared to large private AI companies, making it one of the cleanest crypto routes for AI-themed traders.
Price Action: WLD More Than Doubles in a Month
WLD had fallen sharply from its all-time high of $11.74 set in March 2024. But the token has rallied 118.05% over 30 days, driven by rising whale activity and new wallet creation at 2026 highs, as crypto.news previously reported. The 24-hour trading band stretched from $0.433749 to $0.559362. Traders are now watching the $0.65 resistance zone.
Short Hedging and Unlock Reduction Reshape Supply
Maelstrom noted that Worldcoin’s March private sale raised $65 million via OTC, with $25 million locked for six months. Some buyers may have hedged locked tokens by shorting WLD in perpetual futures, creating a “textbook short overhang.”
The bullish pivot comes from a scheduled unlock cut: from July 24, daily token emissions will drop from ~5.1 million WLD to ~2.9 million WLD — a 43% reduction. That could ease routine selling pressure, though demand must still absorb the flow.
Eightco’s Big Position and Regulatory Overhang
Nasdaq-listed Eightco Holdings disclosed on May 27 that it held 283.45 million WLD (~8.3% of circulating supply), plus 11,068 ETH, indirect OpenAI exposure, and about $144 million in cash and stablecoins. Maelstrom argues that even a modest WLD allocation from Eightco’s cash pile could tighten the market.
Yet Worldcoin still faces legal hurdles. crypto.news reported that World Network has drawn regulatory scrutiny in France, Portugal, Spain, Hong Kong, Brazil, South Korea and Kenya over biometric data practices. The project defends its approach with privacy tools and claims World ID can prove humanity without exposing personal info.