WORLDCOIN COULD TAKE A FURTHER HIT WITH OVER $230 MILLION UNLOCKS IN SEPTEMBER
- Worldcoin will see its supply grow by over $230 million in September.
- WLD's price has shown an inverse correlation with its circulating supply.
- On-chain data shows that 95% of addresses are holding WLD at a loss.
Worldcoin (WLD) is up 2% on Monday but risks a heavy decline in the coming weeks following unlocks worth over $230 million in September. This follows a nearly 90% decline from its all-time high in March.
Why investors need to be cautious with WLD
Token Unlocks data reveals that crypto identity project Worldcoin will see one of the highest unlocks in September, with over $230 million worth of new supply entering circulation.
Unlocks often cause a token's price to decline if demand fails to catch up with the new supply.
With such heavy unlocks, WLD may see its price decline in the next few weeks. This is evident in its price movement following past unlock events. Since hitting an all-time high of $11.74 on March 10, WLD has had a series of unlock events, per Token Unlocks data. These unlocks, coupled with the crypto market correction, have sent WLD down 87% from its all-time high.
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