Worldcoin, a cryptocurrency project co-created by OpenAI CEO Sam Altman, experienced a sharp drop today, falling below $8. Analysts warn that with the upcoming massive unlocking and the possibility of the project team controlling the surge of WLD, the historical high point may have passed.
Analyst: WLD to face massive unlocking in the coming weeks
Worldcoin may see a large amount of unlocking in the future, according to anonymous analyst @DefiSquared, who posted on social platform X yesterday. The current high market value of Worldcoin is mainly driven by its extremely low circulation and the AI narrative. However, this situation is expected to change soon.
Worldcoin project team may control the coin price by exiting the market
The analyst also pointed out that the Worldcoin Foundation currently has complete control over the unlocked WLD treasury liquidity, which means they may sell off at the current high price through over-the-counter (OTC) transactions.
Lastly, @DefiSquared mentioned that based on the data from previous bull markets, about 97% of the top 200 altcoins have ultimately experienced a drop of 90% or more. As a meme coin with a higher valuation than OpenAI, WLD will likely follow this trend.
As for the current price, despite the overall market surge driven by Bitcoin’s rise last night, WLD did not benefit from it. It fell from the $9.2 level during noon yesterday and is currently trading at $7.8, representing a nearly 10% drop in the past 24 hours.
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