Worldcoin Plunges 12.9% Amid Treasury Deposit, Token Unlock

Worldcoin (WLD) has taken a significant hit over the last 24 hours, plummeting by 12.9% in value.

The decline is largely attributed to a combination of factors, including a large treasury-linked wallet deposit into Binance and an upcoming token unlock of over 100 million tokens, roughly 1% of total supply.

The multi-sig wallet associated with Worldcoin deposited 42.37 million WLD, worth around $19.6 million, into Binance, reducing its balance to zero after five months of inactivity.

This move is typically seen as a potential source of exchange supply, signaling potential sell or redistribution events.

The upcoming token unlock adds an extra layer of supply overhang, contributing to the price drop.

The broader crypto market correction and risk-off shift also played a role in Worldcoin's decline, with over $500 million of leveraged long positions liquidated in Bitcoin and Ethereum.