Santiment, a blockchain analytics platform, has reported that a newly-launched Ethereum-based cryptocurrency project, Worldcoin (WLD), has received a great deal of attention on social media platforms.

However, most of the conversation surrounding it has been negative, with users labeling it a “scam” and expressing concerns about privacy.

Ethereum altcoin sees huge FUD

Santiment suggests that this negative response is indicative of a more general fear, uncertainty, and doubt (FUD) regarding cryptocurrency projects.

There’s a lot of buzz around Worldcoin on various social media platforms like Twitter, Reddit, Discord, Telegram, and 4chan ever since Sam Altman introduced this new asset.

However, there’s a lot of negativity surrounding WLD right now, which is a reflection of people’s fear, uncertainty, and doubt towards cryptocurrencies in general.

To give you some background, Worldcoin is a digital identity blockchain project that uses iris scans along with a device called “Orbs” to create unique digital identities.

Sam Altman, co-founder of Worldcoin, which has ties to OpenAI, opted for Ethereum’s Optimism blockchain as its layer-2 solution prior to launch.

Currently, Worldcoin’s value is $2.27, marking a 37% increase from its lowest point on July 24th ($1.66).

Santiment’s analysis reveals that despite Bitcoin (BTC) experiencing a dip in value below $30,000, holders are not selling due to FUD as the cryptocurrency continues to be withdrawn from exchanges.

According to Santiment, the recent surge in Dogecoin’s value has resulted in profits for those who have been holding onto the cryptocurrency over the past year.

There is speculation that Elon Musk may integrate Dogecoin payments into Twitter, given that he has rebranded the social media platform as X.

The price of Dogecoin has risen by 25% in the past two weeks, and more traders are taking notice of this meme-inspired cryptocurrency.

More than that, those who have been active in trading Dogecoin over the past year have now seen a positive return on their investment.

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