Worldcoin: Rapid Growth in Unique Addresses
– The number of unique addresses holding Worldcoin (WLD) has increased by 200% since July 24th.
– Retail investors have shown high interest, with 280,694 new entities added for a total of 417,386 holders.
– Many users received an airdrop of 25 WLD for testing Worldcoin’s products as early adopters.
– The number of “WorldApp” wallets has seen a sharp rise, reaching a total of 1.1 million units.
– The surge in wallets began on June 26th, with half a million units on July 1st.
Centralization Risk for Worldcoin
– The circulating supply of WLD is concentrated in the top 20 wallets, with over 90% held by these addresses.
– Token unlocking for project investors will begin in August 2024, posing a risk of dump for the cryptocurrency.
– Prominent figures such as Reid Hoffman and Andreessen Horowitz have invested in Worldcoin.
– The top 7 addresses hold more than 90% of the circulating supply, with market makers like Binance and Wintermute among them.
– The situation seems to be controlled by market powers rather than the community.
Focus on WLD Prices
– Traders have maintained a trading range between $2 and $2.65 for WLD in the first two weeks of trading.
– The current value of WLD is $2.054 with a market capitalization of $244 million.
– Prices initially fell to a low of $1.85 but have since stabilized above $2.
– The trend for the cryptocurrency appears to be trending downward, with a risk of manipulation due to the concentration of supply.
Hot Take: Inflation and Disappointing Future Prices
– The high concentration of supply around market makers poses a risk of manipulation and downward pressure on prices.
– The unlocking of 99% of the total supply in the long run could lead to increased selling pressure.
– By the end of 2024, the supply will be 2.6 times greater, potentially leading to rapid and violent increases in the number of tokens in circulation.
– The future prices of WLD could be severely disappointing, undermining the future of Worldcoin.
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