Worldcoin, Sam Altman’s AI and crypto hybrid project, has been under serious pressure lately due to a massive sell-off by Alameda Research. According to on-chain data obtained on Wednesday, the market maker continues to sell the AI token continuously. This led to the WLD price dropping approximately 5% on a daily basis. Crypto market enthusiasts are discussing what could happen for the token in light of current market statistics and selling pressures.
Continuous Sales of Alameda Research
Worldcoin is experiencing unprecedented selling pressure, with market maker Alameda Research selling 143,770 WLD to Binance weekly for two months. According to Spotonchain data, the company has sold a total of 1.56 million coins, worth $2.51 million, in ten batches of WLD since August 9. The average price of these sales was $1,605. The fact that the market maker currently owns 23.44 million coins indicates that at its current sales pace, it could take three years to fully dispose of this amount.
Significant Drop in WLD Price
In the last 24 hours, the Worldcoin price dropped by almost 5% to $1.86. The lowest price of the coin during the day was recorded as 1.83 dollars and the highest price was recorded as 1.98 dollars. The market maker’s continuous selling has reinforced the AI token’s bearish trend, increasing investor concerns. According to Coinglass data, the token’s futures deficit decreased by 10% to $170.83 million.
Future Expectations and Analysis
Alameda Research’s massive sell-off signals that WLD’s price could fall further. It is also stated that MNT, one of the company’s largest assets, may come under selling pressure as its three-year non-selling commitment with BitDAO expires in November. These developments show that WLD is in a downward trend in the general market.
However, according to a recent WLD price analysis by CoinGape, the cryptocurrency could rise as much as 400% if Microsoft acquires OpenAI. OpenAI is a leading artificial intelligence company led by Sam Altman, and it is thought that Microsoft’s steps in this direction may have positive effects on WLD.
The future of Worldcoin and the WLD token continues to be shaped depending on factors such as the sales strategies of market makers and artificial intelligence investments of large companies. Investors are closely monitoring the effects of these dynamics on the token’s price movements.
Market analysts predict that WLD may experience further depreciation in the short term, given the current sales intensity and decline in demand. However, in the long run, technology and interest from large investors may contribute to the token’s recovery.
While tracking Worldcoin’s movements in the market, investors should also consider overall crypto market trends and manage their risks accordingly.
Worldcoin must review its market strategies to gain lasting value. The impact of major sales can determine price dynamics in the long run. Investors should monitor technological developments and market trends.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
