đ„ Worldcoin begins unlocking 1.35 billion WLD tokens; price reaction
The price of Worldcoin has failed to meet expectations, with no significant movement in the past 24 hours. A major event in the crypto asset space took place on July 24, when the tokens held by the Tools for Humanity (TFH) team began to unlock.
đž Worldcoin Tokens Enter Circulation
The token allocations received by TFH investors and team members will unlock on a daily basis. 2 million WLD tokens will unlock every day, worth more than $4 million, and the entire supply is expected to be unlocked by July 2028. This is worrying because Worldcoin already faces regular large token unlocks.
Since last year, community unlocks have unlocked 12.5 million WLD tokens and will continue until 2026. During this period, 3.2 million WLD tokens will unlock every day, worth $6.92 million.
Therefore, the supply of 1.35 billion WLD tokens, coupled with the daily unlocking of 5.02 million WLD tokens due to other events, is bound to cause a reaction from investors and the market. However, the price of Worldcoin has remained sluggish, hovering below the downward trend line that has lasted for nearly three months.
Currently trading at $2.16, Worldcoin continues to fall after failing to break through the $3.00 resistance level. Since May, the downward trend line above WLD coincides with the $3.00 resistance level.
Breaking through this level would mean that Worldcoin has the potential to rise to $3.50, which is crucial to pushing its price to $4.00 and higher.
Although there is a possibility that WLD will consolidate between $4.50 and $3.00, as the former is the next key resistance level, it will be a challenge to break through this level. Failure to break through means that the cryptocurrency will be in a state of consolidation
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