Worldcoin

For the next six months, Worldcoin intends to sell up to 1.5 million WLD tokens weekly to specific trading firms outside the United States. Additionally, the digital identity project, Worldcoin, plans to boost its WLD token supply by as much as 19% during this period.This increase will occur through a series of private sales to institutions located outside the United States.<h3 id="strong-worldcoin-plans-significant-wld-token-supply-expansion-strong">Worldcoin Plans Significant WLD Token Supply Expansion</h3>In an April 23 blog post, Worldcoin revealed its strategy to boost the supply of WLD tokens significantly. The subsidiary, World Assets, under the Worldcoin Foundation’s purview, will oversee the token issuance process. They aim to sell approximately 1.5 million WLD tokens, valued at about $8.2 million, weekly through private placements to institutional trading firms outside the U.S.According to Worldcoin’s announcement, World Assets anticipates selling between 0.5 million and 1.5 <a href="https://cryptosheadlines.com/shiba-inu-burns-56-million-tokens-this-week-burn-rate-surges-by-130/" rel="noopener noreferrer nofollow">million WLD tokens per week</a> on average. This continuous influx will result in a proportional increase in the circulating <a href="https://cryptosheadlines.com/shib-token-supply-drops-by-3400/" rel="noopener noreferrer nofollow">supply of WLD tokens</a>.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/04/cryptosheadlines3-1.png?resize&#61;640%2C309&amp;ssl&#61;1" />Source: WorldcoinOver a span of six months, this initiative will introduce approximately 36 million new WLD tokens into the market, translating to an estimated value of around $197 million, based on CoinGecko data. Given the current circulating supply of 193 million WLD tokens, these private sales signify an 18.6% surge in the total available supply within the same timeframe.<h3 id="strong-worldcoin-s-negotiation-strategy-and-market-position-strong">Worldcoin’s Negotiation Strategy and Market Position</h3>Worldcoin disclosed its intention to engage in negotiations with individual trading firms, especially those in competition with each other. The aim is to facilitate private placements at or near prevailing market prices for WLD tokens. <a href="https://cryptosheadlines.com/upcoming-unlock-of-196-million-blur-tokens-potential-price-crash-ahead/" rel="noopener noreferrer nofollow">This approach seeks to mitigate potential price impacts on the token</a>.<a href="https://cryptosheadlines.com/nigerian-startup-partners-with-tether-for-digital-transactions-in-africa/" rel="noopener noreferrer nofollow">Also Read: Nigerian Startup Partners with Tether for Digital Transactions in Africa</a>Despite its current market capitalization of $1 billion, Worldcoin’s fully diluted value (FDV) stands significantly higher at $54.5 billion, considering the total value if all tokens were in circulation.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/04/cryptosheadlines4.png?resize&#61;640%2C215&amp;ssl&#61;1" />Worldcoin is ranked as the 6th largest cryptocurrency by FDV. Source: Coingecko<blockquote>Launched from beta in July 2023, Worldcoin was co-founded by OpenAI CEO Sam Altman, current CEO Alex Blania, and Max Novendstern, who also leads the biometrics research firm Mana. Positioned as a crypto-based digital identity project, Worldcoin addresses identity challenges stemming from AI advancements and introduces a unique universal basic income model through its <a href="https://cryptosheadlines.com/ongoing-sec-negotiation-fuels-binances-native-token-bnb-surging-5-44/" rel="noopener noreferrer nofollow">native WLD token</a>.</blockquote><h3 id="strong-worldcoin-s-identity-registration-process-and-price-movement-strong">Worldcoin’s Identity Registration Process and Price Movement</h3>Identity Registration with the “World App”: Worldcoin users undergo identity registration using the company’s “World App,” where they scan their retinas at machines known as “Orbs.” In return for providing their biometric data, users receive approximately 25 Worldcoin, valued at around $137 currently.Price Movement Amidst AI-Linked Crypto Rally: Benefiting from a broader surge in the prices of AI-linked cryptocurrency projects, Worldcoin experienced a remarkable 435% surge from its launch price of $2.17 on July 24 to its peak of $11.74 on March 10.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/04/cryptosheadlines5-1.png?resize&#61;640%2C297&amp;ssl&#61;1" />Worldcoin grew other 450% in six months: Source – CoinGeckoRecent Price Decline: Despite its previous upward trajectory, Worldcoin has witnessed a significant downturn in recent weeks, with its price plummeting by over 53% from its all-time high. Presently, it is being traded at $5.49.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Worldcoin Plans to Increase Supply by Up to 19% in Next 6 Months

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