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Worldcoin (WLD) is set to accelerate its token unlock schedule, increasing selling pressure on the WLD market price. According to data from Token.Unlocks, 6.62 million WLD tokens valued at $12.91 million will be released into the market by July 24.
Currently, the market experiences a regular influx of 3.19 million WLD tokens, valued at $6.23 million, distributed to community members. This unlock schedule was established last year after the project’s launch, with 500 million coins allocated for community distribution.
In just the past week, 22.35 million WLD tokens, worth over $39.12 million, have been released into the market, accounting for 8.19% of the current circulating supply.
However, this pace will increase significantly starting July 24 as Worldcoin prepares to expand its WLD token distribution to additional stakeholders. From that date, the team will begin unlock distributions for the Initial Development Team, who will receive $2.62 million in WLD tokens daily for the next 730 days.
Similarly, TFH investors will receive $3.61 million in WLD tokens daily for the same duration, while the TFH Reserve will receive $451,110 in WLD tokens daily.
As a result, Worldcoin’s emission rate will surge from the current 3.19 million tokens to 6.62 million tokens per day for the next two years. The project has 10 billion tokens earmarked for distribution, with 84% still locked and awaiting release.
Karon Pangestu, Head of Growth at Aevo (formerly Ribbon Finance), recently shared a chart revealing that Worldcoin’s token emission for July is projected to reach a staggering $628.17 million, representing the largest share among projects unlocking tokens this month. This massive release is part of an estimated $3.5 billion in tokens set to be unlocked across various projects in July.
$3.5B+ Token Unlocks in July 😮
— Karon (@pangestu_karon) July 11, 2024
Altcoin supply emission continues with more than $3.5B+ forecasted to be unlocked for the rest of July.@Token_unlocks outlines that there will be $3.5B+ in total getting unlocked in July. pic.twitter.com/YwjPrXtMGk
The persistent unlocking of WLD tokens has coincided with a decline in price. In the last 24 hours, the price has plummeted by 10%, and over the past month, it has fallen by a staggering 55%, currently trading at $1.75.
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