With more than 230 million unlocked in September.
Worldcoin will see its supply grow by over $230 million in September.
The price of WLD has shown an inverse correlation with its circulating supply.
On-chain data shows that 95% of addresses are holding WLD at a loss.
Worldcoin (WLD) is up 2% on Monday but risks a sharp decline in the coming weeks following more than $230 million worth of unlocks in September. This follows a nearly 90% drop from its all-time high in March.
Why investors should be cautious about WLD
Data from Token Unlocks reveals that crypto identity project Worldcoin will see one of the largest unlocks in September, with over $230 million of new supply entering circulation.
Unlocks often cause the price of a token to decrease if demand fails to catch up with the new supply.
With such large unlocks, WLD could see its price decline in the coming weeks. This is evident in its price movement following previous unlock events. Since reaching an all-time high of $11.74 on March 10, WLD has had a number of unlock events, according to data from Token Unlocks. These unlocks, coupled with the crypto market correction, have sent WLD down 87% from its all-time high.
With a market cap of around $587 million and a fully diluted valuation of $14.5 billion, WLD still has a large pool of unlocked tokens that could negatively impact its price in the future.
