According to U.Today, the price of Worldcoin (WLD) has experienced a significant surge. CoinMarketCap reports that WLD has increased by over 10% to $2.31 in the last 24 hours. The market cap of the coin has also risen by 10.56% to $683 million, making it the 95th largest cryptocurrency by market cap.
This price rally follows a major development from the Worldcoin team. On July 24, the WLD community witnessed the beginning of a significant token unlock event managed by the Tools for Humanity (TFH) team. According to the official announcement, most WLD tokens will be distributed to individuals with official World IDs. These tokens are being given to people identified as unique humans by the team. The team also revealed that nearly six million unique individuals have participated in the Worldcoin network using this method. The unlocking event has been initiated and will be conducted daily in a linear manner.
Last week, the TFH team informed the Worldcoin Foundation that the highly anticipated token unlock would be conducted for 80% of the WLD coins held by the Tools for Humanity team. Additionally, the unlock period has been extended from three years to five years to align with Worldcoin's broader mission. The WLD team clarified that this token unlock would not affect WLD grants for World ID holders. The initial WLD unlock began last year, during which 12.5 million WLD tokens were unlocked. Currently, the unlock is scheduled to continue until 2026, with 3.20 million WLD tokens being unlocked.
Overall, the WLD token unlock has been well-received by the community and is contributing to the bullish momentum in the price of Worldcoin. Today's 10% surge appears to be the beginning of a long-term upward trend. However, only time will tell how the future will unfold for Worldcoin.
