The $WLD project, once highly anticipated, has now become a laughing stock in the cryptocurrency world. The team frequently changes the rules, playing with investors.
On June 30, the project announced that starting from July 24, 6.62 million WLD would be unlocked every day, about 18 million US dollars, and it would last for 730 days. This bad news caused the price to drop from 2.7 US dollars to 1.9 US dollars. However, just when investors were ready to sell their shares, the team announced that the unlocking of the contributor tokens would be extended to 5 years, and the price quickly rose from 1.7 US dollars to 3.2 US dollars. This wave of operations was obviously intended to harvest retail investors, first releasing bad news to suppress prices and absorb funds, and then using good news to increase shipments.
The team’s token economic design has directed most of the issuance to insiders rather than UBI beneficiaries. It is expected that the WLD held by the team will account for more than 60% of the total circulation in one year. In addition, the circulation is further increased through discounted sales and rewards, which essentially erodes the rights and interests of UBI beneficiaries. What is even more infuriating is that some people used inside information to make arrangements in advance. In the end, retail investors became the leeks in this high FDV feast, especially Korean investors who held nearly 25% of WLD on Bithumb.
This game has been designed long ago, just waiting for retail investors to enter the market to provide liquidity and high-priced exits for insiders. Let's be realistic, young people are like this in their emotions, and they should be like this even more in cryptocurrency trading!
This is how the currency circle plays tricks on investors. In the past two days, OpenAI has launched a new product in its artificial intelligence model series - OpenAI o1, which has attracted great attention in various fields including the encryption market. OpenAI o1 promises significant improvements in reasoning capabilities and complex task processing performance compared to previous versions.
The model is designed to think more deeply before reacting, improving its reasoning ability in complex tasks and surpassing GPT-4o in multiple areas. However, improvements in writing and creative arts were less significant. The technological advancement had an immediate impact on the crypto market, with the market value of AI-related tokens rising 2.1% in the past 24 hours.
Meanwhile, Worldcoin (WLD) surged by about 16% after the announcement, but has since stabilized at 9.5% and is trading at $1.62. Sam Altman is the co-founder of Worldcoin and OpenAI, but Worldcoin has been controversial for its token economics.
Currently, the total supply of WLD is 10 billion, but there are only 434 million in circulation. Starting from July 24, 2 million tokens will be unlocked every day. It is expected that this gradual release will increase market selling pressure and lead to increased price volatility.
