Worldcoin (WLD) Token Unlock Could Negate Recent Impact Price Rise

Worldcoin's price is presently trading at $2.56 after a 63% increase throughout June and early July.

Worldcoin’s price barely started recovering, and before the altcoin could fully reclaim its lost profits, the developers made a major announcement.

Worldcoin’s price is currently trading at $2.56 after a 63% increase throughout June and early July. However, over the last 24 hours, WLD has risen 37%, wiping out some of the recent losses.

But, the recovery momentum that WLD is building will likely stop soon as the latest update has announced a major token unlock. In a blog on Tuesday, the Worldcoin developers announced that starting July 24, the WLD tokens allocated to the Tools for Humanity (TFH) investors and team members will begin unlocking.

While the Worldcoin protocol and token were launched back in July 2023, the TFH supply was locked for a year to allow the protocol to mature before the holders could sell this supply.

So a year later, next week, this unlock will begin. It will be linear, with 2 million WLD, worth about $5 million, being unlocked daily. This will continue for the next four years until 2024.

This has become a major point of concern for altcoin investors and the crypto market at large, as token unlocks are bearish events. The additional tokens flowing into the circulating supply sometimes outpace demand, causing the price to drop.

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