Is Worldcoin (WLD) a Buy or Sell? Analyzing the Impact of Token Unlocks
The Worldcoin token unlock schedule is expected to intensify from July 24th.
The project's issuance rate will increase to 6.62 million tokens daily over the next two years.
WLD issuances for July are projected to reach a staggering $628.17 million.
Worldcoin (WLD) is set to accelerate its token unlock schedule, increasing selling pressure on WLD's market price. According to data from Token.Unlocks, 6.62 million WLD tokens valued at $12.91 million will be released to the market by July 24.
The market is currently experiencing a steady flow of 3.19 million WLD tokens, valued at $6.23 million, distributed to community members. This unlock schedule was established last year after the project launched, with 500 million coins allocated for community distribution.
Last week alone, 22.35 million WLD tokens worth over $39.12 million were released into the market, representing 8.19% of the current circulating supply.
However, this pace will increase significantly starting July 24th as Worldcoin prepares to expand its WLD token distribution to other stakeholders. Starting on that date, the team will begin unlocking distributions for the Initial Development Team, who will receive $2.62 million in WLD tokens daily for the next 730 days.
Similarly, TFH investors will receive $3.61 million in WLD tokens daily for the same period, while TFH Reserve will receive $451,110 in WLD tokens daily.
As a result, Worldcoin’s issuance rate will increase from the current 3.19 million tokens to 6.62 million tokens per day over the next two years. The project has 10 billion tokens earmarked for distribution, with 84% still locked and awaiting release.
Karon Pangestu, head of growth at Aevo (formerly Ribbon Finance), recently shared a chart revealing that Worldcoin’s token issuance for July is projected to reach a staggering $628.17 million, representing the largest share among projects unlocking tokens this month. This massive launch is part of an estimated $3.5 billion in tokens that will be unlocked across multiple projects in July.
$3.5B+ Token Unlocks in July 😮 Altcoin supply issuance continues with over $3.5B expected to be unlocked by the end of July. @Token_unlocks outlines that there will be over $3.5B in total being unlocked in July. pic.twitter.com/YwjPrXtMGk
-Karon (@pangestu_karon) July 11, 2024
The persistent unlocking of WLD tokens has coincided with a price drop. In the last 24 hours, the price has plummeted by 10%, and in the last month, it has fallen by a staggering 55%, currently trading at $1.75.
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