In a recent announcement, the pioneering digital identity venture, Worldcoin, unveiled its strategic move to expand the circulation of its coveted WLD token by an impressive 19% over six months.
Through a calculated series of exclusive private sales to esteemed institutional partners beyond the borders of the United States, World Assets, a key subsidiary under the Worldcoin Foundation, aims to introduce up to 1.5 million WLD tokens into the market each week.
This equates to a staggering $8.2 million worth of tokens, enticingly offered to a select cohort of trading firms. This bold initiative not only amplifies the global reach of Worldcoin but also underscores its commitment to fostering strategic partnerships and accelerating innovation in the burgeoning digital landscape.
Worldcoin anticipates selling between 0.5 million and 1.5 million WLD tokens weekly, a move that will significantly expand its circulating supply. Over six months, this could add a staggering 36 million new tokens to the market, valued at approximately $197 million, according to CoinGecko data.
This surge in supply represents an 18.6% increase from the current circulating supply of 193 million WLD tokens. To ensure minimal impact on token prices, Worldcoin plans to negotiate private sales with trading firms, striving to match prevailing market prices as closely as possible.
However, its price has tumbled more than 53% from its all-time high in the last few weeks and is currently changing hands for $5.49.
Despite its current market capitalization of $1 billion, Worldcoin’s fully diluted value (FDV) stands at an impressive $54.5 billion, reflecting the massive potential value of its entire token supply if all were in circulation. This disparity offers a fascinating glimpse into the scale of Worldcoin’s growth trajectory.
Also Read: Worldcoin Announces Launch of World Chain to Boost Efficiency
