Worldcoin Sells US$65M in Tokens as WLD Hits Record Low
- World Foundation raised US$65 million via an OTC WLD sale, releasing most tokens directly into circulation.
- WLD fell to a new all-time low and remains roughly 97% below its March 2024 peak.
- A July token unlock covering over half the supply could add further pressure to the market.
World Foundation has raised US$65 million (AU$94.9 million) through an over-the-counter sale of Worldcoin (WLD) tokens, as the cryptocurrency continues to trade near its lowest recorded levels. The sale was carried out by its issuance arm, World Assets, with four counterparties participating and initial settlement completed on 20 March.
Priced at an average of approximately US$0.27 (AU$0.39), the transaction involved the transfer of around 239 million tokens into the market. The organisation said the funds will be directed towards operations, research and development, manufacturing of biometric devices and ecosystem expansion.
A portion of the allocation, valued at US$25 million (AU$36.5 million), is subject to a six-month lock-up period, while the remaining tokens were made liquid immediately.
Related: XRP Slides Despite Goldman Sachs’ $152M ETF Bet
WLD Weakens with New Supply
The timing of the sale coincided with renewed price declines. WLD dropped to roughly US$0.24 (AU$0.35), setting a new all-time low, before recovering slightly to around US$0.27 (AU$0.39). Compared with its March 2024 peak of about US$11.82 (AU$17.26), the token has fallen by around 97%.
Looking ahead, a major token unlock scheduled for 23 July could introduce additional supply, covering approximately 52.5% of the project’s 10 billion total tokens.
The current raise also reflects a lower pricing environment than the May 2023 funding round, when US$135 million (AU$197.1 million) was secured at roughly US$1.13 (AU$1.65) per token.
Related: JPMorgan Says Bitcoin Holds Strong While Gold And Silver Lose Their Shine
The post Worldcoin Sells US$65M in Tokens as WLD Hits Record Low appeared first on Crypto News Australia.
You May Also Like
Palmeiras Defeats River Plate In Epic Copa Libertadores Clash
CEO of ‘Textbook Ponzi’ Pleads Guilty in $200M Bitcoin Fraud Case
