Summary
Worldcoin plans to sell 36 million WLD tokens to meet growing demand for its services, potentially increasing circulating supply by 18.6%. The sale aims to cater to institutional trading firms outside the US and includes safeguards to prevent immediate resale to US persons. However, the market context is challenging, with the price of WLD plummeting since March. The influx of new tokens may increase selling pressure and impact the price negatively. Despite this, some market participants remain optimistic about a potential breakout in value.
Key Points
1. Worldcoin is planning to release between 0.5 million and 1.5 million tokens each week for up to six months, potentially introducing 36 million WLD tokens into circulation.
2. The fresh 36 million tokens are valued at around $195 million based on the current market price, with the aim of meeting the increasing demand for orb-verified World IDs.
3. The influx of new tokens might increase selling pressure and potentially impact the price negatively, as the market context for this sale is challenging and Worldcoin’s price has already plummeted by over 54% since March 10.