Sam Altman Worldcoin, a cryptocurrency project has surge significantly. It gains 15% price pool amid of its investors and team lockup.
Sam Altman, the CEO of OpenAI, started the cryptocurrency project WorldCoin. Its price has risen significantly, going up by 26% in the last 24 hours and by 15% to $2.457 in the last few hours. The main reason for this increase is an announcement made by the company. In which it has extended the token unlock period for early investors and team members. Fast this period was three years, which has now increased to five years. It means that the supply of Sam Altman WorldCoin tokens in market will now increase, leading to an increase in its price.
Extended Lockup Period Leads to Price Increase
When companies shorten the token lockup period, more tokens enter the market, which can lead to a drop in price. But in this case, the opposite has happened.
Sam Altman WorldCoin aims to provide people with a unique digital identity. The project raised $115 million last year and aims to connect people around the world to the platform.
Also, earlier the plan was that 400 million WLD tokens would come into the market by August, but now due to the increased lockup period, these tokens will gradually come into the market until around 2029, which is expected to keep the price stable.
WLD Price Jumps 15% On Extended Investor and Team Lockup
Sam Altman WorldCoin price rise significantly. Its price is up 26% in the last 24 hours and another 15% in the last 24 hours to $2.457.
The main reason for this increase is an announcement made by the company. In which it has extended the token unlock period for early investors and team members. Fast this period was three years, which has now been increased to five years. This means that the supply of WorldCoin tokens in the market will now gradually increase, leading to an increase in its price.
Sam Altman Worldcoin: Worldcoin’s aims
WorldCoin wants to give people a unique digital identity. Last year, the project raised $115 million and aims to connect people globally to its platform.
There are currently 275 million WLD tokens, mostly held by World ID holders. The number of tokens will slowly increase as the lockup period extends. Initially, 400 million tokens were expected to be available by August 2024, but now this is projected to happen by September 2029….
The price of Sam Altman WorldCoin has gone up, making investors excited. However, it’s unclear how long this trend will last.
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