Key Insights
- Top AI crypto coins like Worldcoin and Near have slumped in the past few days.
- The decline is happening because the SpaceX IPO has happened and the stock falling.
- They are also falling on reports that OpenAI was considering delaying its IPO.
Top AI crypto coins fell sharply this week as traders cut exposure to high-beta tokens. Worldcoin (WLD) dropped for four straight sessions and hovered near its lowest level since June 13. The token fell about 36% from its monthly high.
Near Protocol also weakened, falling to $1.807 from its year-to-date high of $3.081. Venice Token (VVV) dropped more than 36% from its 2026 peak.
AI Crypto Coins Are Falling After the SpaceX IPO
Top AI crypto coins surged a few weeks ago as investors waited for the SpaceX IPO. At its peak, Venice Coin was up by over 2,250% from its lowest level in December, while NEAR soared by 265%. Worldcoin was up by over 200%.
While SpaceX is a company in the space industry, it has also become a major player in the artificial intelligence (AI) sector through Grok. As such, the IPO led to hype in the industry that attracted more investors.
Recently, however, these tokens have plunged as investors sell the news. This is a situation where investors buy an asset before a major event and then dump it when it happens.
The retreat is also happening because SpaceX’s IPO has disappointed, with its stock falling by over 30% from its highest point this month. As a result, the market capitalization has dropped by over $800 billion.
OpenAI May Delay Its IPO
Top AI coins have also slumped because of the rising fear that OpenAI will delay its IPO. According to the NYT, Sam Altman is concerned that the company will not hit his $1 trillion valuation target.
Recent news has shown that the company’s revenue growth has slowed and is no longer hitting its target. It has also lost market share to other large players in the crypto industry, like Anthropic. Anthropic has launched some popular models, like Mythos and Fable, that beat ChatGPT’s by far.
At the same time, its growing spending has made it a cash-burning machine, with its annual loss surging to over $21 billion on $13 billion of revenue.
Altman is also concerned that the stock will drop as SpaceX has done after its IPO. Therefore, these fears have pushed investors to exit AI coins, especially Worldcoin, which is associated with Altman.
These fears explain why top companies in the AI industry are falling. In Japan, Softbank stock plunged by 12% today, while in South Korea, companies like SK Hynix and Samsung fell by over 8%.
Broader Crypto Market Retreat
AI coins are also falling because of the ongoing crypto market crash that has affected Bitcoin and most altcoins. Bitcoin has already moved below $60,000 and is stuck in a bear market after falling by over 50% from its all-time high.
Ethereum token dropped to $1,500, while the market capitalization of all coins has fallen by more than half from a peak of $4 trillion to $2 trillion today. In most cases, tokens like Worldcoin, Near, and Venice tend to drop when Bitcoin is in a freefall.
The crypto market is falling because of the rising fear that the Federal Reserve will hike interest rates this year. Recent data showed that consumer inflation has jumped above 4%. It has remained above the 2% target in the last five years.
Bitcoin and cryptocurrencies are also falling as investors rotate into the booming stock market, where top indices like the Dow Jones Industrial Average and the S&P 500 are trading at all-time highs. A good example of the ongoing concerns is that top crypto ETFs have had substantial outflows in the past months. Bitcoin funds have shed over $5 billion in assets in the past two months.
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