Worldcoin Drops 6% Amid Alameda Research 1.5 Million Token Sale, Will WLD Price Hold?
Worldcoin's token price dropped over 6% due to ongoing sell-offs by Alameda Research, which has transferred 1.56 million WLD tokens to exchanges since early August. Alameda has sold approximately 143,770 WLD tokens weekly, totaling around $2.51 million at an average price of $1.6. This sell-off coincides with the approval of FTX's repayment plan, allowing the exchange to pay back $14.7 billion to $16.5 billion in recovered assets. Alameda holds 23.44 million WLD tokens valued at $43 million, and it could take over three years to sell its entire Worldcoin holdings. Following the sell-off news, WLD's price fell from $1.98 to $1.77, marking a 4.5% decline over two weeks. Despite a previous 31% surge after Worldcoin's expansion announcement, the token has struggled to maintain levels above $2, currently trading at $1.8, reflecting an 8.7% weekly increase.
