- Worldcoin (WLD) surges as lockup periods extend for investors and team members.
- A crypto detective suspects insider trading within the Worldcoin team during the token unlock event.
Worldcoin (WLD) has emerged as a standout performer in the cryptocurrency market, ranking among the top gainers among the top 100 cryptocurrency on CoinMarketCap.
According to the most recent update, WLD has increased by 39.89% over the last 24 hours, reaching a price of $3.10 with a daily trading volume of $937.77 million. This significant climb represents a bullish trend over the last seven days, during which the token has increased by more than 60%.
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Extended Lockup Period Drives Worldcoin Surge Amid Bullish Predictions
This big increase comes after the announcement of an extension in the lockup period for investors and team members. Tools for Humanity (TFH) announced that the unlock period for approximately 80% of TFH investors and WLD tokens held by team members has been extended from 3 to 5 years.
Previously, it was reported that WLD was scheduled to become the token with the highest unlock value in July, at $628.17 million. Popular on-chain analyst Ali Martinez foresaw this bullish rise after finding a buy signal from the TD Sequential indicator during his analysis.
Holders of World ID have already claimed approximately 211 million WLD tokens, accounting for more than 77% of the 275 million WLD tokens now in circulation. WLD grants for holders of valid World IDs are unaffected by this change.
Interestingly, as the Worldcoin team prepares for the important token unlock event, crypto investigator ZachXBT has highlighted concerns about insider trading and activities.
ZachXBT’s report, based on research by top trader Bybit DefiSquared, reveals that Worldcoin may participate in insider unlocking despite having only 2.7% of the circulating supply.
Dropping my most extensive research piece on Worldcoin to date. With insider unlocks just 8 days away, I encourage you all to give it a read and stay informed. https://t.co/5668JzlnUc
— DeFi^2 (@DefiSquared) July 17, 2024
The report goes on to detail how the Worldcoin team meticulously manipulated the price to maintain a fully diluted valuation (FDV) of $30 billion while falsely claiming that no price manipulation occurred.
Furthermore, CNF recently revealed that the Worldcoin Foundation has extended the redemption time for WLD grant reservations for one year until July 31, 2025. This modification is intended to improve the distribution of the Worldcoin project by allowing people additional time to validate their World ID.
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