Research analyst Tom Wan warns that investors should be mindful of daily WLD unlocks. The altcoin project will unlock 3 million tokens worth approximately $7.7 million each day for the community.
Analyst issued warning un-lock warning for WLD!
Worldcoin (WLD) has witnessed its price increase more than 7% in the last 24 hours. After that, it topped the trend list of CoinMarketCap. As you follow on Kriptokoin.com, the token hit the market on Monday. However, during this short period of time, it topped the charts of some of the world’s largest exchanges, including Huobi, Bybit, Binance, and OKX. Accompanied by these developments, it was quite successful and its price increased strongly.
WLD is a cryptocurrency startup founded by OpenAI CEO Sam Altman. The primary goal of the project is to revolutionize digital identification by introducing the concept of World Identity, a verification system that ensures the authenticity of the identity holder as a real person. However, the project’s iris scanning sphere has received considerable backlash from the community. Tom Wan, a research analyst at 21.co, shared his thoughts on WLD on Twitter earlier today. Wan pointed out that WLD’s first week in the crypto market was a success, jumping from $1.94 to $2.43. However, the analyst warned that investors should keep the daily locks of the project in mind.
Worldcoin's price slightly rebounded from $1.94 back to $2.43. Given only 1% of the token is in circulation, we also need to be aware of the daily unlocks
3M tokens ($7.7M) will be unlocked for the community daily, which is 0.6% of the current supply. pic.twitter.com/J4lP8nH5Ow
— Tom Wan (@tomwanhh) July 26, 2023
Wan stated that about 3 million tokens will be unlocked every day for the community. This amount corresponds to approximately 7.7 million dollars. It will also account for about 0.6% of the current supply. The analyst stated that the project will start unlocking today. He shared that initially 6.62 million tokens will go to the TFH reserve, investors and the initial development team.
Altcoin price performance
With the latest developments, the price of WLD rose to $2.37 at press time. Thus, it registered an impressive increase of over 7% over the past trading day. This significant price jump brought WLD closer to a 24-hour high of $2.51, while a daily low of $2.01.
However, despite the price increase, WLD’s 24-hour trading volume fell over 31% compared to the previous day. This was recorded as a significant decrease. The trading volume then stood at $387,797,070, according to press time. The increase in WLD’s price also had a positive impact on its weekly performance. The altcoin rose even higher, reaching an impressive 41.73% rate. In terms of market cap, WLD has a market cap of $258,355,914. It also ranked as the 116th largest token in the market. However, the token lagged far behind NEM (XEM), which ranked 114th.
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