Worldcoin’s subsidiary, World Assets Ltd., has announced plans to sell up to 36 million WLD tokens over the next six months. This would increase the token supply by approximately 19%. On Wednesday, the price of Worldcoin was $5.48, remaining relatively flat after earlier gains.
The decision to increase the token supply was outlined in a blog post published on April 23 by the Worldcoin Foundation. The organization stated that the sale of WLD tokens from the World Assets treasury is necessary to meet the growing demand for orb-verified World IDs and support the growth of the Worldcoin network.
World Assets plans to sell between 500,000 to 1.5 million WLD tokens every week for the next six months. This will make up about 0.1% to 0.4% of Worldcoin’s weekly trading volume. The tokens will be sold through private sales to non-US institutional trading firms.
The Worldcoin Foundation team has implemented measures to prevent the WLD tokens sold outside the US from flowing back into the country. These private placements will take place over a six-month period.
If the expected weekly total of 1.5 million WLD tokens (worth about $8.2 million) is sold, the total sales for the six months could reach 36 million tokens, equivalent to a value of $197 million based on the current WLD token price of $5.48. According to CoinGecko data, Worldcoin’s 24-hour trading volume is $216 million and the circulating supply is just over 194 million.
In the past week, the price of Worldcoin (WLD) has increased by 9.7%, but has decreased by 36% in the past 30 days. This decline is likely due to regulatory challenges and a slowdown in AI token growth. However, the token has seen a significant increase of 456% since its all-time low of $0.9731 in September of last year.
Worldcoin was co-founded by OpenAI CEO Sam Altman in July of 2023. In March, the token reached its all-time high of $11.74, largely due to the broader AI narrative. Worldcoin’s plans to launch a new Ethereum layer-2 solution, World Chain, also contributed to the price increase.
To share this article and learn more about Worldcoin, visit the Worldcoin Foundation’s website. The main categories and tags for this post can be found below.