Worldcoin begins unlocking 1.35 billion WLD tokens
Worldcoin's price has surpassed expectations after the crypto asset has been unresponsive for the past 24 hours. On July 24, a major event occurred when the altcoin network witnessed the start of unlocking tokens belonging to the Tools for Humanity team.
The Worldcoin offering goes into circulation
Tokens allocated to investors and TFH team members who were the first to contribute to the Worldcoin project are scheduled to be unlocked daily. Each day, 2 million WLDs worth more than $4 million will be unlocked, and the entire set will be unlocked by July 2028. This is worrisome because Worldcoin is already subject to regular unlocks of large tokens.
The community unlocking event, which began with the unlocking of 12.5 million WLD last year, will last until 2026. During that period, 3.20 million WLDs worth $6.92 million will be unlocked every day.
Thus, this offering of 1.35 billion WLD tokens, combined with other events leading up to the unlocking of 5.02 million WLD tokens daily, should have triggered a reaction from investors and the market. However, the price of Worldcoin has remained below the downtrend line that has kept the altcoin from rising for almost three months now.
At the moment, the price of Worldcoin is trading at $2.16, but is falling after it failed to overcome the $3.00 resistance. The downtrend line that has hovered over WLD since May has coincided with the $3.00 barrier.
A break above that level would lead to a potential rise to $3.50, which is crucial for Worldcoin to rise to $4.00 and beyond.
While there is a possibility that WLD consolidates between $4.50 and $3.00, as the former level is the next critical resistance level, it will not be easy to break through, and failure to do so would mean consolidation for the altcoin.
