Ongoing WLD sell-offs by 3AC and Alameda add pressure, causing price volatility and declines.
3AC holds 72.46M WLD, liquidating gradually, with Alameda selling 1.129M WLD weekly.
Worldcoin price dips 3%, settling at $1.61, with a trading volume of $119M in 24 hours.
The ongoing Worldcoin (WLD) token sell-off by bankrupt institutions Three Arrows Capital (3AC) and Alameda Research is worrying investors. These institutions have been steadily selling their unlocked tokens since July, leading to downward pressure on WLD’s price.
Three Arrows Capital, a now-bankrupt hedge fund, holds 75 million WLD tokens and has been unloading its holdings since the end of July. To date, the liquidator, Teneo, has sold a total of 2.538 million WLD, worth $4.06 million.
Transaction data from Etherscan shows ongoing transfers from 3AC’s liquidation wallets, with around 72.46 million WLD still held, valued at roughly $115.2 million. These tokens are being sold gradually, and at the current rate, it could take up to three years for 3AC’s holdings to be fully liquidated.
Alameda Research also holds a sizable amount of WLD. Through its investment in Worldcoin, Alameda acquired 25…
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