The price of WLD is under immediate pressure, experiencing a 3.93% decrease today and a significant 20% drop over the past week, following FTX’s auction of 22.3 million tokens at a discounted rate.
Despite the current downward trend, future price forecasts for WLD remain bullish, with potential growth projections anticipated by 2025.
Worldcoin, the crypto project famous for its eyeball-scanning technology, was valued at $3 billion in a recent fundraising round in 2022 as reported by CNF. The current decline in the price of Worldcoin (WLD) comes after reports emerged about FTX Estate’s plans to auction off 22.3 million locked WLD tokens, valued at around $37.7 million, at a significant discount.
As of today, CoinMarketCap data shows the price of Worldcoin (WLD) at $1.64, reflecting a 3.93% drop in the last 24 hours and a 21.03% decrease in the past week. This auction is part of FTX Estate’s efforts to recover funds for creditors following the collapse of the FTX exchange. View the WLD price chart below.
No coins selected
The auction for WLD tokens is expected to offer discounts ranging from 40% to 75% off the current price of approximately $1.70. Bids for the auction must be submitted by midnight UTC on Wednesday, with notifications for accepted bids anticipated the following day. While all 22.3 million tokens will be included in this auction, there are no plans for subsequent auctions. The tokens are scheduled to gradually unlock between December 2024 and July 2028.
WLD Experiences a Weekly Price Decline of Over 20%
Currently priced at around $1.70, WLD has seen a significant weekly decline, surpassing 20%. According to Mike Cagney, co-founder of Figure Markets, who announced the auction, the tokens could be discounted by more than 75%. Figure Markets is also contemplating establishing a fund to bid on WLD tokens, similar to their participation in the FTX estate’s Solana token auction earlier this year.
Following previous auctions of Solana and Metaplex tokens at discounted rates to major investors like Pantera Capital, the FTX estate is now liquidating its crypto holdings with the latest Worldcoin token auction. This leaves them with residual assets amounting to approximately $594 million, primarily consisting of illiquid FTT tokens.
Predictions and Growth Potential for Worldcoin
Building on a prior report by CNF about Binance’s backing of Sam Altman’s Worldcoin project, discussions around a potential WLD price surge have emerged. Despite the current price drop, technical analysis suggests that WLD could see price appreciation in 2025, with forecasts ranging from a low of $3.56 to a high of $4.29. The average projection places the token around $4.00 next year, reflecting positive long-term prospects for Worldcoin.
