Date: Sat, Sept 21, 2024, 05:06 AM GMT
While the cryptocurrency market is enjoying a bullish phase thanks to the recent 50 basis points rate cut by the Federal Reserve, which pushed Bitcoin to a high of $64,000, and helped altcoins like SUI, TAO, and FET make impressive jumps, Worldcoin (WLD) is bucking the trend. Over the past 30 days, WLD has dipped by 1.02%, struggling to gain traction despite the broader market rally.

Source: Coinmarketcap
So, what’s causing this bearish momentum for Worldcoin?
According to on-chain analyst Ember, the trouble stems from the ongoing linear unlocking of investors’ tokens, which started at the end of July. Two major institutions—Three Arrows Capital (3AC) and Alameda Research—are selling their unlocked WLD holdings, contributing to downward pressure on the token’s price.
3AC, which obtained 75 million WLD through its initial investment, has been selling the unlocked tokens since late July. So far, they’ve offloaded 2.538 million WLD, worth approximately $4.06 million. Similarly, Alameda Research, holding 25 million WLD, has been selling its portion once a week since early August. To date, they’ve sold 1.129 million WLD, valued at $1.8 million.
These consistent sales, combined with the fact that both institutions have gone bankrupt, are causing a supply glut that Worldcoin can’t seem to shake off, despite the broader market's positive sentiment.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
#Worldcoin​ #WLD🔥🔥🔥

For the next six months, Worldcoin intends to sell up to 1.5 million WLD tokens weekly to specific trading firms outside the United States. Additionally, the digital identity project, Worldcoin, plans to boost its WLD token supply by as much as 19% during this period.

This increase will occur through a series of private sales to institutions located outside the United States.

Worldcoin Plans Significant WLD Token Supply Expansion
In an April 23 blog post, Worldcoin revealed its strategy to boost the supply of WLD tokens significantly. The subsidiary, World Assets, under the Worldcoin Foundation’s purview, will oversee the token issuance process. They aim to sell approximately 1.5 million WLD tokens, valued at about $8.2 million, weekly through private placements to institutional trading firms outside the U.S.
According to Worldcoin’s announcement, World Assets anticipates selling between 0.5 million and 1.5 million WLD tokens per week on average. This continuous influx will result in a proportional increase in the circulating supply of WLD tokens.

Source: Worldcoin
Over a span of six months, this initiative will introduce approximately 36 million new WLD tokens into the market, translating to an estimated value of around $197 million, based on CoinGecko data. Given the current circulating supply of 193 million WLD tokens, these private sales signify an 18.6% surge in the total available supply within the same timeframe.
Worldcoin’s Negotiation Strategy and Market Position
Worldcoin disclosed its intention to engage in negotiations with individual trading firms, especially those in competition with each other. The aim is to facilitate private placements at or near prevailing market prices for WLD tokens. This approach seeks to mitigate potential price impacts on the token.

Despite its current market capitalization of $1 billion, Worldcoin’s fully diluted value (FDV) stands significantly higher at $54.5 billion, considering the total value if all tokens were in circulation.

Worldcoin is ranked as the 6th largest cryptocurrency by FDV. Source: Coingecko
Launched from beta in July 2023, Worldcoin was co-founded by OpenAI CEO Sam Altman, current CEO Alex Blania, and Max Novendstern, who also leads the biometrics research firm Mana. Positioned as a crypto-based digital identity project, Worldcoin addresses identity challenges stemming from AI advancements and introduces a unique universal basic income model through its native WLD token.
Worldcoin’s Identity Registration Process and Price Movement
Identity Registration with the “World App”: Worldcoin users undergo identity registration using the company’s “World App,” where they scan their retinas at machines known as “Orbs.” In return for providing their biometric data, users receive approximately 25 Worldcoin, valued at around $137 currently.
Price Movement Amidst AI-Linked Crypto Rally: Benefiting from a broader surge in the prices of AI-linked cryptocurrency projects, Worldcoin experienced a remarkable 435% surge from its launch price of $2.17 on July 24 to its peak of $11.74 on March 10.

Worldcoin grew other 450% in six months: Source – CoinGecko
Recent Price Decline: Despite its previous upward trajectory, Worldcoin has witnessed a significant downturn in recent weeks, with its price plummeting by over 53% from its all-time high. Presently, it is being traded at $5.49.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#WLD #Worldcoin​ #Bitcoin #Ethereum $WLD $BTC $ETH

More than 2.4 million people have signed up to have their irises scanned by Worldcoin’s ”orb” devices in exchange for a digital ID and free cryptocurrency, shrugging off privacy campaigners' concerns that the database could be misused.Worldcoin, co-founded by Altman, says its aim is to create a global identity and financial networkWorldcoin, the cryptocurrency project set up by OpenAI CEO Sam Altman, aims to establish a global ID network akin to India’s Aadhaar biometric ID system, a senior employee told Reuters.More than 2.4 million people have signed up to have their irises scanned by Worldcoin’s ”orb” devices in exchange for a digital ID and free cryptocurrency, shrugging off privacy campaigners' concerns that the database could be misused.Worldcoin, co-founded by Altman, says its aim is to create a global identity and financial network, suggesting on its website a variety of ambitious use cases, including distinguishing people from artificial intelligence bots and providing a means for distributing universal basic income (UBI).The company’s head of product, Tiago Sada, told Reuters the company sought to emulate India’s Aadhaar system, which ascribes unique ID numbers, and records individuals’ fingerprints, face and iris scan.”A really good analogy for the type of impact something like Worldcoin can have is the Aadhaar project in India,” Sada, the company’s head of product, engineering and design, said.Various regulators, including in the United Kingdom and Germany, have said they were looking into Worldcoin following its launch in July.#BTC #SFM #Worldcoin​ #CryptoNews🔒📰🚫 #digital $BTC $XRP $USDC

Dear $WLD enthusiasts!
Forget your usual bets – I'm all in on Worldcoin.
Since day one when I knew about this project #WorldID by #ToolsForHumanity and I was confident it’s gonna boom, don’t wanna know why?
It's simple:
When innovation meets opportunity, revolutions follow!
With a unique take on digital ID via biometrics and massive adoption on the horizon, this isn't just a coin; it's a revolution. Backed by big names and aiming for global scale, Worldcoin isn't just playing the game – it's changing it.
Innovative Vision: Worldcoin is not just another cryptocurrency; it’s a groundbreaking project aiming to create a universal identity system, which I find incredibly forward-thinking. Their vision to integrate digital identity with financial access could redefine global economics.
Growing Adoption: The traction that Worldcoin is gaining is undeniable. With a user-friendly app that integrates World IDs and a growing list of partnerships, WLD is expanding its ecosystem rapidly. This user base growth is a critical success factor in the crypto world.
Technological Backbone: Built on a robust technological framework and secured by Ethereum, WLD benefits from both innovation and stability. This dual advantage enhances my confidence in the coin’s longevity and potential for scalability.
Market Position: Despite the crypto market's volatility, WLD has demonstrated resilience and potential for substantial growth. The team’s strategic moves and community engagement have positioned it well for upcoming market cycles.
Given these points, I’m convinced that WLD is not just a good bet but a transformative asset for my portfolio. I’m looking at this as an opportunity for a 10X+ ROI in the coming months, and I am excited to see where this journey takes us.
Here's to betting on the future – and seeing you all at the winner's circle! 🌍💫
#Worldcoin​ #CryptoRevolution #InvestSmart