World Foundation sells $65 million worth of WLD via OTC deal

Suehyeon Lee

Summary

The World Foundation said it sold $65 million worth of WLD to four institutional investors over the past week via “World Assets.”
The average sale price was around $0.27, and after the sale was reported, WLD fell to $0.24, marking an all-time low.
According to DefiLlama, a 52.5% token unlock of the total supply is scheduled for July 23, raising the possibility of price pressure from increased supply.

Forecast Trend Report by Period

As the Worldcoin (WLD) project led by Sam Altman carried out a large over-the-counter (OTC) sale, the token price slid to an all-time low.

According to Cointelegraph on the 29th (local time), the World Foundation sold a total of $65 million worth of Worldcoin (WLD) over the past week to four institutional investors through the token-issuing entity “World Assets.” The average sale price was about $0.27, with an estimated 239 million tokens traded.

The foundation said it plans to use the proceeds for operating expenses, research and development (R&D), production of the iris-recognition device “Orb,” and ecosystem expansion. Of the tokens sold, $25 million worth is subject to a six-month lock-up, while the remainder is immediately liquid.

Following the news, the token price at one point fell to $0.24, marking an all-time low. The current price is around $0.27, down about 97% from the peak of roughly $11.82 recorded in March last year.

Additional supply overhang also remains. According to DefiLlama, a large token unlock equivalent to about 52.5% of the total supply (10 billion) is scheduled for July 23, raising concerns about potential price pressure from an increase in circulating supply.

WLD