Analyst Predicts Deep Correction for Sam Altman's Worldcoin, Updates Outlook on Solana and Two Other Altcoins

A closely followed analyst believes that the native token of the crypto project co-created by ChatGPT founder Sam Altman looks poised for a severe correction. Pseudonymous analyst Altcoin Sherpa tells his 196,400 X followers that he's bearish on Worldcoin (WLD), an artificial intelligence-based crypto project that uses iris-scanning technology.

Timeline of Solana, Worldcoin-org

A team of Kenyan police officers is reported to have raided the premises used by Worldcoin and seized devices storing users' data. The raid came just days after the Kenyan government announced the suspension of Worldcoin's activities in the country.

According to incoming market reports, Bavaria's data watchdog had not completed its privacy and security evaluation of Worldcoin prior to the project's launch, the agency's chief stated.

Chainlink surged by nearly 4% during Tuesday's session, as the token moved towards a one-week high. The move came as cryptocurrencies rebounded, following a slow start to the week. Solana was another big mover, as it headed towards the $24.00 level.

Worldcoin, the identity protocol aiming to become the world's most prominent identity and financial public network, reported a significant growth in World ID verifications following its launch out of beta.

Following the recent suspension of Worldcoin's operations in Kenya on Aug 2, the Kenyan government has initiated an investigation into the project's compliance with strict citizen privacy rights. The move came after the controversial launch of Worldcoin as a digital identification platform on July 24, intended to distinguish real humans from AI and bots.

Following its peak for the year at $32.13 on July 14, Solana (SOL) ‘s value has steadily decreased. This decrease has solidified the $27 horizontal range as the main resistance area.

In an unexpected move that has sent ripples through the crypto industry, major exchange Bitstamp has unveiled a sweeping adjustment to its offerings, primarily affecting its U.S.-based customers.

In the crypto world, collaborations and partnerships are often the catalysts for innovation, so when we refer to FTX and Solana's opportunity to collaborate with Paypal's stablecoin, we are talking about a missed chance.

Cypher Protocol, a decentralized futures exchange operating on the Solana blockchain, disclosed on August 7th that a significant security breach occurred on their platform. The breach led to an estimated unauthorized transfer of assets valued at around $1 million.

According to an Aug. 7 report, Worldcoin's warehouse in Kenya was subject to a police raid. Authorities reportedly entered the Nairobi-based warehouse and seized machines believed to contain stored data.