đ Worldcoin (WLD) Price Breaks $2 Barrier Ahead of $58 Million Token Unlock
Worldcoin (#WLD ), the cryptocurrency tied to OpenAIâs CEO Sam Altman, is the biggest gainer among the top 100 cryptos today. In the last 24 hours, Worldcoinâs price has increased by 15.50% while trading at $2.09.
As the token gains momentum, this analysis examines the factors behind the recent price surge and the potential implication of a major token unlock scheduled for next week.
đž Worldcoin Rising Demand, Adoption to Counter Supply Shock
Worldcoinâs price increase could be attributed to the broader upswing in the prices of Artificial Intelligence-themed tokens. In addition, the adoption of World ID verification in Poland, Malaysia, and Guatemala appears to have contributed to the recent price surge.
According to the open-source digital identity project, the launches came at a crucial time for the countries.
âThe new launches come on the heels of a summer that saw significant growth in both the advancement of AI and its corresponding potential for costly online fraud,â Worldcoin wrote in a blog post.
This development also comes ahead of Worldcoinâs token unlock. Valued at $58 million, the event is scheduled to occur between September 30 and October 6.
Token unlocks typically introduce supply into the market, which can influence price movements. As a result, WLD may experience increased volatility during this period.
Furthermore, on-chain data from Santiment shows a spike in Worldcoinâs social dominance. This sudden increase indicates a rise in Worldcoin-related discussions. It also suggests that demand for WLD might increase, which could contribute to a further price hike.
Beyond that, the Coins Holding Time has risen by 310% in the last seven days. Coins Holding Time measures the amount of time a cryptocurrency has been held without being sold.
When it decreases, it signals that holders are selling, which could negatively affect prices.
