$WLD ran from $0.24 to ~$0.59 in three weeks, up ~68% on the week while the market dropped ~10%. This isn't random altcoin rotation. There's an actual thesis driving it. It started with @CryptoHayes, the BitMEX co-founder who now runs the investment firm Maelstrom. His firm put out a research note making the case for WLD, and Hayes pushed it hard to his following. The argument: WLD is the cheapest way to bet on the AI IPO wave. Right now, investors who want exposure to OpenAI or Anthropic have to go through private deals, expensive SPVs, locked-up structures, at valuations in the hundreds of billions. WLD, by contrast, is liquid, anyone can buy it, and it trades at only a ~$2B market cap. Tiny, by AI standards. Maelstrom's call is $5 by August. There's a market backdrop helping too. Alts have started moving on their own instead of just following Bitcoin. BTC fell ~6% on June 2, but money kept rotating into risk, and the AI narrative is where most of it landed. The honest part: this is a story-and-positioning trade, not a product one. @worldcoin didn't ship anything new. The price is running on attention, which means it lives and dies on risk appetite, and it's already cooling, back around $0.52. A proxy trade is only as strong as the story behind it. Right now the story is loud. Loud stories fade.