Over-the-Counter Selling Alert for an Altcoin: Heavy Selling Last Week Revealed

The World Foundation, the company behind Worldcoin, announced that it has completed a total of $65 million in $WLD token sales through OTC (over-the-counter) sales conducted over the past week.

According to the statement, sales were conducted with four different counterparties, with an average selling price of approximately $0.2719.

It was stated that $25 million of the sales were subject to a 6-month lock-up period. This indicates that the tokens in question will not be released to the market in the short term and that supply pressure may remain limited.

The uses of the funds raised were also detailed. The World Foundation announced that these revenues will be used for operational expenses, research and development activities, orb device production, and ecosystem growth. Investments in orb production, which forms the basis of the biometric authentication infrastructure, are considered critical to the project’s global scaling goals.

Meanwhile, the $WLD price was trading around $0.27 during the news period, having risen by approximately 1.8% in the last 24 hours. However, the $WLD price has fallen by 13% in the last week.

*This is not investment advice.