Worldcoin’s 2x Profits: Understanding Why WLD Jumped to $8
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In a week that caught the attention of the crypto community, Worldcoin’s native token, $WLD, has experienced an extraordinary surge, skyrocketing by more than 200%.
The iris biometric cryptocurrency project, led by Sam Altman, has sent ripples across the broader crypto market, with its price reaching $8, showcasing a remarkable 42.60% increase in the last 24 hours and an astounding 200% surge on weekly charts.
Major Milestone
The Worldcoin community proudly announced a major milestone in its recent statement, disclosing that the World App, Worldcoin’s wallet, has now garnered over 1 million subscribers this week.
World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible pic.twitter.com/Mf6Y51gscQ
— Worldcoin (@worldcoin) February 17, 2024
On 17 Feb 2024, the World App wallet achieved this remarkable feat, signaling a series of breakthroughs for the Worldcoin project. The surge in the project’s adoption aligns seamlessly with the ongoing rally in WLD prices, creating a positive energy for the Worldcoin ecosystem.
Tokenomics and Supply Dynamics
Examining Worldcoin’s tokenomics, the total supply of 10 billion WLD coins, is valued at an impressive $74.71 billion. Within this framework, the circulating supply accounts for 130.76 million $WLD, making up a modest 1.31% of the overall total.
However, the distribution plan includes 75% for the Worldcoin Community, 9.8% for the Initial Development Team, 13.5% for TFH Investors, and 1.7% for TFH Reserve.
Delving into the top 10 holders collectively own a staggering 9.15 billion $WLD, representing 91.5% of the total supply. Notable holders include Teneo, a 3AC Liquidation (75 million $WLD, $579 million), and Alameda, an FTX Bankruptcy Estate (25 million $WLD, $193 million).
Worldcoin has successfully raised $240 million across three financing rounds, securing support from major investors, including Blockchain Capital, Andreessen Horowitz, Bain Capital Crypto, Coinbase Ventures, Digital Currency Group, Khosla Ventures, 1confirmation, and Blockchange Ventures.
Smart Trading Tactics
In the past week, three big whales took out a total of 2.8 million $WLD ($21 million) from Binance and OKX.
6/ In the past week, 3 whales withdrew a total of 2.8M $WLD($21M) from #Binance and #OKX.https://t.co/CuPm1ozPazhttps://t.co/xTnV0UUjechttps://t.co/LF4SsA0huQ pic.twitter.com/p2Qp3UXoqq
— Lookonchain (@lookonchain) February 19, 2024
Highlighting the smart trading activity, “SmartMoney” with the wallet address of “0x0258” demonstrated sharp buying strategies. Notably, the trader bought 267,062 $WLD ($534,000) on November 1 and sold on December 19, realizing a profit of $519,000 (+97%).
Similarly, a subsequent trade involving 282,448 $WLD ($784,000) on January 12 and a recent sale resulted in a profit of $1.08 million (+137%).
The recent jump in Worldcoin’s price, combined with smart moves from investors, has lit up the crypto scene. Observers are excited about what’s next in the upcoming weeks.
Filed under: Bitcoin - @ February 20, 2024 6:16 am