WLD Price Faces Pressure as FTX Prepares to Auction 22.3 Million Worldcoin Tokens

• WLD price faces immediate pressure, down 3.93% today and over 20% this week, as FTX auctions 22.3 million tokens at a steep discount.
• Despite the current decline, future price projections for WLD remain optimistic, with potential growth expected by 2025.

Back in 2022, CNF reported that Worldcoin, the eyeball-scanning crypto project, considered a $3 billion valuation with a recent fundraising. At the moment, the price of Worldcoin (WLD) recently fell over 2% following reports that the FTX estate is preparing to auction 22.3 million locked WLD tokens, valued at approximately $37.7 million, at a steep discount.

To be precise, as of today, CoinMarketCap data shows that the Worldcoin (WLD) price is $1.64, with a decrease of 3.93% in the past day and 21.03% in the past week. This auction is part of the estate’s ongoing efforts to recover funds for creditors after the collapse of the FTX exchange. See WLD price chart below

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WLD tokens are expected to be offered at a discount between 40% to 75% off the current price, which hovers around $1.70. The auction bids are due by midnight UTC on Wednesday, with notifications for accepted bids expected the following day. While the auction includes all 22.3 million tokens, there will be no further auctions for WLD. However, the tokens are set to unlock gradually between December 2024 and July 2028.

WLD Faces Weekly Price Decline of Over 20%

As mentioned above, currently trading at around $1.70, WLD has experienced a sharp weekly decline, with its price plunging over 20%. According to Figure Markets’ co-founder, Mike Cagney, who announced the auction, the tokens could be discounted by more than 75%. Cagney also indicated that Figure Markets is considering creating a fund to bid on WLD tokens, similar to its previous involvement in the FTX estate’s Solana token auction earlier this year.

The FTX estate had previously sold its stake in Solana and Metaplex tokens at a discount to major investors, including Pantera Capital. With this latest auction of Worldcoin tokens, the estate continues to liquidate its crypto holdings, leaving it with approximately $594 million in residual assets, most of which consist of illiquid FTT tokens.

Worldcoin’s Future Price Predictions and Expansion

Reiterating a recent report by CNF on Sam Altman’s Worldcoin gaining Binance’s support, it was discussed that a WLD price spike could be ahead. Therefore, despite the current price dip, technical analysis suggests that WLD may see price increases in 2025, with projections ranging from a low of $3.56 to a high of $4.29. On average, the token is expected to reach around $4.00 next year, reflecting positive long-term expectations for Worldcoin.