Worldcoin (WLD) Dives 8.41% Amid Fading ETF Hype and Supply Concerns

Worldcoin (WLD) has experienced an 8.41% decline in value over the last ~28 hours due to a combination of factors, rather than a single new negative headline.

The recent surge in value was largely attributed to the Grayscale Worldcoin ETF news, which led to WLD's price increasing by about 4 to 8%. However, this spike has since faded, with WLD trading down from around 0.38 to about 0.34 over the last 24 hours.

Supply and concentration concerns continue to plague WLD, with the 100 largest wallets controlling roughly 90% of the circulating supply. The recent token sale of 52.5 million dollars by the World Foundation has also raised questions about future sell pressure, despite the tokens being locked up for a year.

The scheduled change in WLD emissions on July 24 is expected to reduce daily unlocks from around 5.1 million tokens to 2.9 million tokens, a roughly 43% cut. This has been framed as a 'slowing' of unlocks rather than a halt, but still keeps ongoing sell-side supply in focus.