Worldcoin Extends Token Lock-Up Period to Stabilize Market Amid Price Surge
Tools for Humanity (TFH), the developer of Worldcoin (WLD), has made a strategic decision to extend the lock-up period for its team members' and investors' WLD tokens.
Originally planned to release 3.3 million tokens daily, the new schedule will now see 2 million tokens released daily starting July 24, 2024. This adjustment aims to moderate market saturation and stabilize the token’s value amidst ongoing trading.
Following the announcement, WLD experienced a notable 23% price increase within 24 hours, trading at $2.84 with a market cap of approximately $784.9 million. However, concerns linger regarding potential selling pressure as more tokens become available in the market over time.
The extended lock-up period, now set at five years for 80% of the tokens, aims to enhance stability within the Worldcoin ecosystem. This revised distribution plan will continue until July 2028, with vesting stretching into 2029.
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Crypto Analyst Predicts Solana Could Hit $500 – Here is WhyVincent Maliepaard, Marketing Director at IntoTheBlock, emphasized the significance of token unlock schedules in influencing asset prices, noting that investors monitor these schedules closely to gauge growth potential and adjust their strategies accordingly.
Despite scrutiny over its tokenomics and low float ratio, Worldcoin maintains popularity with over 6 million users holding an orb-verified World ID, facilitating access to the network.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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