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Cryptocurrency News Articles

Worldcoin's Massive Token Release Shakes Crypto Market

Apr 26, 2024 at 09:14 am

Worldcoin (WLD), led by ChatGPT CEO Sam Altman, plans to release a substantial number of tokens into the market over the upcoming six months. Through private sales to non-US institutions, it intends to expand its supply by 19%, with World Assets selling 1.5 million WLD tokens weekly, equating to $8.2 million. This could lead to an inflation of 36 million tokens and a market cap of $54.5 billion, potentially impacting the current market price.

Worldcoin's Massive Token Release Shakes Crypto Market

Worldcoin's Massive Token Release: A Potential Market Disruptor

In a bold move that has sent shockwaves through the crypto world, Worldcoin, an ambitious project backed by Sam Altman, CEO of the company behind the groundbreaking ChatGPT, is poised to unleash a colossal torrent of tokens into the market over the next six months. This unprecedented move has investors and analysts alike on tenterhooks, as they grapple with the potential implications for Worldcoin's price and the broader crypto landscape.

Under the plan, Worldcoin intends to augment its current token supply by an astonishing 19% through private sales to non-US institutional investors. This translates into a staggering 1.5 million WLD tokens (approximately $8.2 million) being offloaded every week for the next six months.

The sheer magnitude of this token release is unprecedented in the annals of cryptocurrency, raising concerns among some experts regarding its potential inflationary effects. Should the projected release of 1.5 million WLD per week materialize, it would culminate in an influx of 36 million new tokens into the market within a six-month timeframe. At current market rates, this would constitute a staggering $197 million worth of additional supply.

With the current circulating supply of WLD tokens standing at 193 million, this influx represents a significant 18.6% inflation rate. Such a substantial increase in supply could potentially exert downward pressure on the token's price, particularly if demand remains relatively stagnant or declines.

In an attempt to mitigate the potential price impact of this unprecedented token release, Worldcoin has indicated its intention to negotiate favorable terms with private investors, ensuring that they pay as close to the current market price as possible. However, the mere prospect of such a massive increase in supply has cast a cloud of uncertainty over the future trajectory of Worldcoin's price.

At present, Worldcoin boasts a market capitalization of approximately $1 billion, but this figure pales in comparison to the gargantuan $54.5 billion market cap it would attain if all available tokens were to be released into the market.

Over the past seven days, Worldcoin has experienced a significant price increase, but a notable decline has been observed over the past 24 hours. This volatility reflects the market's indecision and uncertainty regarding the implications of this unprecedented token release.

Analysts caution that the full impact of Worldcoin's massive token release remains to be seen. However, they stress that such a substantial increase in supply could potentially have far-reaching consequences for the token's price and the overall crypto market. Investors are urged to exercise caution and carefully consider the potential risks associated with this audacious move by Worldcoin.

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