Worldcoin Increases WLD Token Supply Up to 19% in the Next 6 Months, What is the Impact?

Bittime - Crypto-based digital identity project, Worldcoin, plans to increase their supply of WLD tokens by 19% within the next 6 months. This increase will occur through a series of closed sales to certain financial institutions outside the United States.

Via its official blog on April 23, Worldcoin announced that World Assets, a subsidiary of the Worldcoin Foundation responsible for token issuance, will sell up to 1.5 million WLD (approximately $8.2 million) every week. 

The sale will be made through a "private placement to a select group of institutional trading firms" operating outside the US.

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Worldcoin Increases Supply of WLD Tokens

This sale is expected to add 36 million new WLD tokens to the market within 6 months. Based on CoinGecko data, its current value is around $197 million. With the current amount of WLD in circulation at 193 million tokens, this closed sale will increase the total supply of WLD by 18.6%.

Also read: The Conspiracy Behind Worldcoin: Myths and Facts

Worldcoin stated that it would negotiate with individual trading companies, especially competing ones, to conduct closed sales as close as possible to the "current market price of WLD". This aims to minimize the potential impact on the price of the WLD token.

What is the Effect?

Even though Worldcoin's market capitalization currently stands at $1 billion, this value is still far from its fully diluted value (FDV) of $54.5 billion. The FDV value is the total value of Worldcoin if all WLD tokens were in circulation.

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Worldcoin, which officially left beta in July 2023, was founded by three influential people in the field of AI. They are OpenAI CEO Sam Altman, current Worldcoin CEO Alex Blania, and Max Novendstern who is also CEO of biometric research company Mana.

Also read: Explore the Potential of Worldcoin (WLD): WLD Price Analysis and Prediction, Ready to Skyrocket?

Worldcoin is a crypto-based digital identity project that offers solutions to identity problems posed by the rapid development of artificial intelligence (AI). Worldcoin also introduced a new universal basic income (UBI) model through their WLD token.

Worldcoin users can register their identity through the company's "World App" by scanning their retinas on machines called "Orbs." In exchange for their biometric data, users will be paid approximately 25 WLD (currently worth $137).

Driven by the overall rise in prices of AI-related crypto projects, WLD prices surged 435% from a launch price of $2.17 on July 24 to a peak of $11.74 on March 10. 

However, in recent weeks the price of WLD has plunged more than 53% from its record high and is currently trading around $5.43.

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Conclusion

WLD investors need to pay close attention to the increase in WLD token supply that will occur. This increase could have an impact on reducing WLD prices. We recommend that you do further research before making an investment decision in WLD.

How to Buy Worldcoin (WLD) on Bittime

You can buy and sell Worldcoin (WLD) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Worldcoin (WLD) is available on Bittime with the market pair WLD/IDR. To be able to buy WLD IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Worldcoin (WLD) on Bittime. 

Monitor price chart movements of Worldcoin (WLD), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.