WLD Drops Over 20%, Market Cap Falls to $2.247 Billion

Huoxing Finance reports that on June 6, according to market data, WLD briefly dropped over 20% and is currently trading at $0.4319, with its market cap falling to $2.247 billion. Arthur Hayes posted today that he has fully liquidated his entire holdings of Worldcoin (WLD), less than a day after publicly stating he would continue holding WLD. Hayes viewed WLD as a liquidity proxy for AI-themed trades. He believed that as SpaceX increasingly emphasizes AI and connectivity services, a strong IPO performance could boost the entire AI and technology sector, making WLD an alternative for retail investors unable to directly access SpaceX equity. However, SpaceX’s pre-IPO private market valuations have recently plunged significantly. Data shows that SpaceX’s pre-IPO price on Hyperliquid has fallen over 50% in recent days, diminishing the appeal of AI-themed trades and prompting Hayes to reverse his position and exit WLD. Over the past month, WLD had risen approximately 70% against the market, but following recent corrections, its one-month gain has narrowed to around 45%.