In a recent announcement, the WLD Coin team revealed a significant postponement of their token unlocking schedule, providing a positive boost to the cryptocurrency’s value. As a result, WLD Coin prices surged following the news that a substantial quantity of tokens would enter circulation at a later date, alleviating some supply concerns.
Why Did the WLD Coin Team Extend the Unlock Period?
The decision to extend the token unlocking period was made by Tools for Humanity (TFH), the team behind WLD Coin. Initially, the unlocking of the tokens allocated to investors and team members was set to occur over a span of three years. However, TFH has now extended this period to five years to align with the long-term goals of the Worldcoin project.
How Does This Impact the Market?
BTC‘s price remains steady above $63,500, despite recent market fluctuations. The announcement from TFH suggests that WLD Coin is poised for a potential rise towards the $70,000 mark. This extension has instilled confidence among investors, as it indicates a gradual release of tokens instead of a sudden influx, thereby reducing immediate market pressures.
Key Takeaways for Investors
For investors, the announcement carries several key implications:
- Gradual token unlocking reduces immediate selling pressure.
- Long-term commitment from the team enhances project credibility.
- Potential for a more stable price increase over time.
Continuing the Project’s Vision
Tools for Humanity has played a crucial role in developing Worldcoin, transferring the protocol’s governance to the Worldcoin Foundation before its official launch. TFH continues to support the Worldcoin Foundation and operates the World App, the first wallet compatible with Worldcoin.
In conclusion, the delay in token unlocking by the WLD Coin team is seen as a strategic move to maintain market stability and support long-term project goals. Investors are likely to view this as a positive development, potentially leading to sustained growth in the cryptocurrency’s value.