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World (CRYPTO: WLD) token defied gravity on Monday after a Nasdaq-listed firm embraced it as its primary treasury reserve asset.
WLD, the native currency of the Sam Altman-founded identity verification project, boomed nearly 48% in the last 24 hours, becoming the second-highest gainer among coins with a market value greater than $1 billion.
The coin reached levels last seen on Jan. 28, while trading volume popped 365% to $3.33 billion, making it one of the most traded coins on the market.
WLD's rally dwarfed market heavyweights Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were up 0.73% and 0.12%, respectively.
See Also: Bitcoin To Hold $110,000 Through September, Analyst Says—What About Ethereum, XRP, AVAX?
The uptick comes after Eightco Holdings Inc. (NASDAQ:OCTO) raised $250 million through a private placement to adopt WLD as its primary reserve asset.
Wall Street tech analyst Dan Ives has been appointed as chairman of the board. Ives said in an interview that he was "excited" to take over the role and expressed optimism about the project's long-term potential.
Price Action: At the time of writing, WLD was exchanging hands at $1.83, up 47.85% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has fallen 11%
Photo Courtesy: Iljanaresvara Studio on Shutterstock.com
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