WLD supply could increase by as much as 19%.
On Wednesday, the price of #worldcoin remained unchanged throughout the day after declining previous gains, hovering around $BTC The scenario of increasing worldcoin supply by the above number of coins is in line with the plan outlined in a blog post published on April 23.
To meet the growing global demand for orbitally validated World IDs and to support the growth of the Worldcoin network, World Assets Ltd (a subsidiary of the Worldcoin Foundation) has announced plans to increase worldcoin supply by the above number of coins. (World Coin Foundation subsidiary) will be selling #WLD tokens from World Assets' vault in the coming months," World Coin Foundation said in a statement.
Specifically, World Assets plans to sell between 500,000 and 1.5 million WLD tokens every week for six months. These tokens will represent 0.1-0.4% of World Coin's weekly trading volume.
According to the blog post, the tokens will come from the World Assets vault and be sold in a private sale to institutional investors outside of the US.
"These private sales of WLDs will take place over a six-month period and will include special measures to prevent leakage of WLDs sold outside the U. S. back to the U. S. ," the Worldcoin Foundation team noted.
If World Assets sells up to 1.5 million WLD tokens (worth about $8.2 million) each week, total sales over six months could reach 36 million tokens. Given the current WLD #token price of $5.48, the value of new WLD offerings on the market could reach $197 million.
According to CoinGecko, Worldcoin's trading volume in 24 hours totaled USD 216 million, with a turnover of just over USD 194 million.
The price of Worldcoin (WLD) today is up about 9.7% over the past week and down about 36% over the past 30 days.
The token was launched in July 2023 and was co-founded by OpenAI CEO Sam Altman.
Read us at: Compass Investments
