Following the news of an extended lockup period for investors and team members, Worldcoin’s WLD token saw a sudden 40% spike on Wednesday. According to Coingecko data, the price of WLD is currently at $3.2, a 45% increase in the past 24 hours. This is the first time that tSam Altman’s project has traded above $3 since June 23.
Team Delay Token Unlocks In Bullish Move For WLD Holders
$WLD is back above $3 🔥💪
It is up 75% in the last 4 days.
Recently, the team changed the vesting from 3 years to 5 years for some unlock tokens.
This is bullish news, as fewer new tokens will come into the market, which means less selling pressure.
Do you guys hold the… pic.twitter.com/AQ29QeZONM— Wise Advice (@wiseadvicesumit) July 17, 2024
Significantly involved in the early stages of Worldcoin development, Tools for Humanity (TFH) disclosed that the unlock timetable for eighty percent of WLD tokens allotted to its investors and team members would be prolonged from three to five years. The company stated in a news release that “these tokens were locked to allow the protocol to mature before these groups would be able to access their token allocation(s).”
According to the initial design, the Worldcoin protocol would have launched one year ago, on July 24, 2024, when the WLD tokens would have begun to unlock. According to the initial plan, tokens would have been unlocked every day for two years, ending in July 2026. The revised idea, however, prolongs this time frame by four years, with the tokens unlocking every day until July 2028.
The extension currently affects about 2 million WLD tokens that are owned by TFH team members and investors. It lowers the daily unlock rate from the initial 3.3 million WLD per day by almost 40%. This bullish announcement has caused a spike in the price of WLD.
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Worldcoin Hits 6 Million Userbase, Short Of Sam Altman’s Previous Hopes For 1 Billion
Just in: The Worldcoin community has grown to 6 million verified humans & the Worldcoin Foundation has announced an additional year to redeem reservations.https://t.co/TrKDTXHqqU
— Worldcoin (@worldcoin) July 10, 2024
As of right now, more than 6 million people have orb-verified World IDs, the foundation claims. They can use those IDs to access the Worldcoin network and get WLD tokens. Sam Altman, a co-founder of Worldcoin, had previously stated that the company’s objective was to have one billion users by 2023.
In its recent press release, the foundation highlighted that more than 211 million WLD tokens have been claimed by World ID holders. This number makes up over 77% of the 275 million WLD in circulation.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
