A Look at Worldcoin’s Concentration of Holders at Launch
The Worldcoin iris scanning crypto endeavor, striving to fortify universal basic income (UBI) and promote digital identification amid the era of artificial intelligence (AI), debuted its cryptocurrency on Monday, July 24. As for Tuesday’s data, at 10:15 a.m. Eastern Time (ET), a maximum supply of 10 billion WLD tokens exists, and currently, coingecko.com and coinmarketcap.com report a circulating supply of 107 to 108+ million WLD tokens. Upon its initial exchange listing, the price stood at $1.88 per token, later reaching a peak of $3.30 per coin that same day.
Key Points:
- The Worldcoin cryptocurrency launched on July 24, 2023, with a maximum supply of 10 billion WLD tokens.
- Currently, there is a circulating supply of 107 to 108+ million WLD tokens.
- The price of WLD reached a peak of $3.30 per coin on its launch day.
- As of July 25, 2023, the price of WLD ranges from $1.91 to $2.56 per coin, showing significant volatility.
- The project has received support from notable venture capital investors.
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Currently, with 107 million WLD tokens circulating, the cryptocurrency’s distribution is highly concentrated and held by only a few entities. For instance, among the 164,195 unique addresses possessing WLD tokens, the top wallet controls a significant 63.29% of the entire supply.
Key Points:
- The top wallet holds 112,540,589 WLD, representing 63.29% of the entire supply.
- The second largest wallet holds 32,488,727 tokens, which is 18.26% of all WLD.
- The third biggest wallet possesses 8,722,407 coins, accounting for 4.9% of the circulating supply.
- Market makers and exchanges like Binance, Bybit, and the Optimism Gateway hold the majority of WLD tokens.
- Since its launch, there have been only 275,591 transactions, many of which are “claim” transfers.
The objective of WLD is to ensure fair global distribution to individuals solely based on their unique identity. However, currently, the market makers primarily hold the reins of worldcoin’s (WLD) distribution. The timeline for diluting the currently aggregated supply, along with the duration of its aggregation, hangs in the balance.
Hot Take:
The concentration of holders of Worldcoin (WLD) tokens raises concerns about the fairness and decentralization of the cryptocurrency. With a small number of entities controlling the majority of the supply, it remains to be seen how the project will achieve its objective of fair global distribution. The extreme volatility in price further adds to the uncertainty surrounding Worldcoin’s future.+
