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Sam Altman’s Worldcoin Surges 15% as Investor and Team Lockup Extended

Jul 15, 2024
    WLD is trading at $2.457, having risen by 15% after the announcement. It is up by 26% over the past 24 hours.The unlock schedule for early investors and team members has been increased from three years to five years, reducing the planned rise in circulating supply.
As a seasoned researcher with extensive experience in the cryptocurrency market, I find Worldcoin’s recent announcement of extending the unlock schedule for early investors and team members intriguing. The token’s price response, with WLD trading at $2.457, up by 15% after the news, and a daily gain of 26%, is noteworthy.Worldcoin’s decentralized identity initiative has revealed that it will prolong the lock-up periods for initial backers and team members. This announcement has resulted in a 15% surge in value for the project’s native token, WLD.
According to CoinDesk’s records, the price of WLD is currently at $2.457 – a significant increase from its previous mark of $2.147 following the announcement. This translates to a daily growth rate of approximately 26%.
In a recent blog update, Worldcoin announced that the lock-up period for 80% of the WLD tokens held by Team Foundation Housing (TFH) members and investors has been prolonged from three to five years.

As a crypto investor, I understand that the vesting schedule for the tokens will now unfold more gradually, extending beyond 2029 compared to the initial plan. It’s important to note that token unlocks are generally viewed as having a bearish impact on the market. This is because the release of additional tokens can lead to an increase in circulating supply and potentially provide early investors with the opportunity to cash out their equity by selling in the open market.

Sam Altman, the CEO of OpenAI, leads the cryptocurrency initiative known as Worldcoin. Last year, they successfully secured $115 million during their Series C funding round to expedite their global mission of providing Worldcoin decentralized identities to people worldwide.

Currently, the circulating WLD supply amounts to 275 million tokens, out of which 77% were initially allocated to World ID holders. According to the initial plan, the circulating supply was projected to reach 400 million by September, rather than August.

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2024-07-16 17:36