In just over 25 days since its listing debut on July 24, 2023, worldcoin (WLD) has experienced a rapid decline of 29% against the U.S. dollar. This cryptocurrency has faced significant volatility, with a decrease of more than 11% in the past week alone. However, within the past 24 hours, WLD showed a rise of more than 15% against the greenback. The number of distinct wallets containing WLD has also surpassed 500,000, further highlighting the growing interest in this digital asset. Despite its turbulent performance, worldcoin remains ranked 156 out of more than 10,000 crypto assets listed, with a market value of approximately $194 million.
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Worldcoin Plummets Over 50% Since Its All-Time High
In just over 25 days since its listing debut on July 24, 2023, the cryptocurrency known as Worldcoin (WLD) has experienced a notable decline of 29% when measured against the U.S. dollar. Notably, within the last week alone, it saw a decrease of more than 11%. Despite these fluctuations, within the past 24 hours, WLD showcased a rise of more than 15% against the greenback. Furthermore, four days prior, the count of distinct wallets containing WLD surpassed the 500,000 mark.
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WLD Declines 29% Against the U.S. Dollar
According to statistics, Worldcoin’s native token, WLD, has seen a decline of 29.1% against the U.S. dollar from July 24 to August 18, 2023. Despite this decrease, it is worth noting that WLD has shown a 15% increase in the last 24 hours. Currently, WLD ranks 156 out of more than 10,000 crypto assets listed, with a market value of approximately $194 million. With a circulating supply of 178.9 million WLD, each token is trading at $1.53. However, it is important to mention that WLD is down 53.46% from its all-time high on July 24, 2023, which was its listing date.
Market Ranking and Value of WLD
Worldcoin currently occupies the 156th position in the market ranking. With over 10,000 crypto assets listed, this placement demonstrates its significance within the market. The market value of WLD is approximately $194 million, which represents a substantial amount of capital invested in this cryptocurrency.
Distribution of WLD Tokens
Out of the total 178.9 million WLD tokens in existence, 17.45 million are claimed tokens. This means that they have been acquired by individuals or entities and are no longer available for distribution. Additionally, as of August 18, 2023, there are 531,236 unique addresses holding WLD, with the number of wallets surpassing the 500,000 milestone on August 14.
Top WLD Wallet Holders
The distribution of WLD tokens is not evenly spread among its holders. The top wallet, which is the contract, holds 97.52 million WLD, accounting for 54.52% of the total supply. The second-largest wallet, also under Worldcoin control, holds 30.98 million WLD, representing 17.33% of the current supply. Binance’s cold wallet holds around 11.7 million tokens, equivalent to 6.54% of the circulating supply. These three wallets alone contribute significantly to the overall distribution of WLD.
Other major WLD holders include the market maker Wintermute, which holds 7.19 million tokens (4.03% of the supply), Worldcoin itself with 3.45 million tokens (1.93%), and the cryptocurrency exchange Okx, which holds approximately 2.13 million WLD (1.19%). In total, these six wallets control 85.53% of the 178.9 million WLD tokens. Moreover, the top 100 Worldcoin (WLD) holders collectively own a significant 94.04% of the total supply.
Trade Volume and Market Share
Within the past 24 hours, WLD has seen a trade volume of approximately $89.76 million. While this figure represents a substantial amount, it is essential to put it into perspective. The crypto asset’s market value of $194 million accounts for only 0.018% of the $1.09 trillion crypto economy. This indicates that WLD’s market share still has room for growth within the broader cryptocurrency market.
Most Traded Pairs for WLD
The four most traded pairs for WLD are tether (USDT), bitcoin (BTC), USD Coin (USDC), and the Korean won. Among these pairs, tether trades make up a significant 96% of WLD’s 24-hour trade volume. This suggests that most traders prefer to trade WLD against tether, which is a stablecoin pegged to the value of the U.S. dollar. Furthermore, it is worth noting that approximately $1.01 million of the $89.76 million in trade volume comes from Uniswap v3 on Ethereum. Additionally, approximately $190,000 was recorded in the last day on the Optimism version of Uniswap v3, with the most traded pair being WETH (Wrapped Ether).
Significant Trade Volume on Uniswap and Optimism
Uniswap, a popular decentralized exchange (DEX) built on the Ethereum blockchain, has facilitated a considerable trade volume for WLD. With approximately $1.01 million in trade volume within the past 24 hours, Uniswap has proven to be an important platform for WLD trading activity. Additionally, the Optimism version of Uniswap v3 has also seen significant trade volume, with approximately $190,000 recorded in the last day. This suggests that traders are using these decentralized platforms to exchange and trade WLD.
Analysis of WLD’s Decline and Future Prospects
The decline of more than 50% since its all-time high is concerning for Worldcoin and its investors. This sharp decrease may be attributed to several factors, including market sentiment, volatility, and profit-taking by early investors. Additionally, the concentration of WLD tokens in a few wallets controlled by Worldcoin and other entities raises questions about decentralization and the potential for market manipulation.
Moving forward, Worldcoin will need to address these concerns and work towards establishing a more balanced distribution of WLD tokens. This will contribute to a healthier and more stable market for the cryptocurrency. Additionally, Worldcoin should focus on increasing adoption and expanding the use cases for WLD, which could generate more demand and drive up its value.
Community Reactions and Comments
The community’s response to Worldcoin’s decline has been varied. Some investors and individuals are expressing concern and disappointment in the significant drop in value since its listing. Others are optimistic about the future prospects of Worldcoin and believe that this decline presents a buying opportunity.
Comments on social media and forums indicate a mix of opinions, with some questioning the concentration of WLD tokens in a small number of wallets and others expressing confidence in Worldcoin’s team and their ability to navigate the challenges ahead.
In conclusion, Worldcoin’s decline of more than 50% since its all-time high highlights the volatility and challenges within the cryptocurrency market. While there are concerns regarding token distribution and market manipulation, there is also optimism for Worldcoin’s future prospects. As the cryptocurrency continues to evolve and address these issues, its value and market position may see significant changes.
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