Summary
- WLFI team-linked wallets burned a total of 100 million WLFI, with the burn valued at about $6.68 million.
- Four addresses tied to the WLFI team were seen moving a total of 1 billion WLFI to unlock and then burning 10%% of that amount.
- EmberCN said the burn appears to be part of the WLFI unlock rules, under which 4.523 billion tokens, or 10%% of the 45.23 billion WLFI held by team-linked addresses and subject to unlocking, are set to be burned.
Forecast Trend Report by Period
Wallets linked to the World Liberty Financial, or WLFI, team burned about 100 million WLFI tokens.
On May 12, on-chain analytics account EmberCN wrote on X that addresses tied to the WLFI team had burned a combined 100 million WLFI over the previous 19 hours.
EmberCN put the value of the burn at about $6.68 million.
The transactions showed four team-linked addresses moving a total of 1 billion WLFI to an unlock vesting contract address and then burning 10% of that amount.
The market sees the move as a possible step in implementing WLFI's unlock policy disclosed last month.
"This burn appears to be part of the unlock rules announced last month," EmberCN wrote. It added that about 4.523 billion tokens, or 10% of the 45.23 billion WLFI held by team-linked addresses and subject to unlocking, are ultimately slated to be burned.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
