Worldcoin, the iris-based digital asset, is poised for token unlocks exceeding $230 million, which may significantly impact its market value.
Expected Token Unlocks
September will be a month of significant changes for Worldcoin as token unlocks worth over $230 million are expected. Token unlocks involve the release of tokens previously restricted under fundraising and other agreements. These events are carefully planned to mitigate market pressure and prevent sharp price declines.
Current Market Situation
At the time of writing, WLD is trading at $1.49, marking an 8.12% decline over the past seven days. The total market cap stands at $605,022,523, with a 24-hour trading volume of $90,423,171. These figures indicate that the inflation of supply could exert significant pressure on the token’s price.
Impact of Unlocks on Investors
The upcoming token unlock may bring increased selling pressure among investors. A substantial supply of new tokens entering the market could incentivize holders to sell. Analysis shows that all addresses that purchased WLD in the past six months have experienced an average loss of over 35%. This could lead to increased selling pressure and further price declines.
Worldcoin faces significant challenges due to the impending token unlocks and their potential impact on price. Investors should be particularly cautious about future market developments.
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