Worldcoin Extends Token Lock-up Period, Boosts WLD Price
- Worldcoin announced extending the token lock-up period for early project contributors from 3 years to 5 years.
- Following the news, the price of WLD surged over 20%, reaching a high of $2.42.
The cryptocurrency market experienced a significant jump in the price of Worldcoin (WLD) on Tuesday, with the token reaching an intraday high of $2.42. This surge was attributed to positive news from Tools for Humanity (TFH), a key development team behind the Worldcoin project.
Positive Response to Lock-up Extension
Worldcoin recently revealed that TFH would extend the lock-up period for tokens held by team members and investors from 3 to 5 years. According to a blog post from the Worldcoin Foundation, this decision aligns with the long-term vision of the project and is aimed at ensuring the sustainability of Worldcoin.
The new lock-up schedule will not impact WLD grants for verified World ID holders, who have been steadily claiming tokens since the project’s inception in July 2023.
Growing Community Support for Worldcoin
Worldcoin has seen significant adoption, with over 6 million individuals obtaining World ID verification through sphere scanning. This widespread participation has led to the claiming of 211 million WLD tokens by World ID holders, constituting a significant portion of the circulating supply.
Despite the positive developments, the price of the WLD token remains below $5, primarily due to regulatory challenges such as the recent ban on biometric data collection by Hong Kong authorities.
