WLD Coin Postpones Token Unlocking Period from 3 to 5 Years as Bitcoin (BTC) Recovers Above $63,500

Cryptocurrencies are on the rebound, and a key positive sign for an altcoin is a delay in token unlocking. The WLD Coin team has just announced that they will push back the token unlocking period. This news caused the price to rise as investors anticipate that a large number of tokens will not be entering circulation right away.

The WLD Coin team has announced a delay in the token unlocking period, a move that is likely to be welcomed by investors. Initially, 80% of the tokens were set to unlock over three years, but this has now been extended to five years.

The announcement comes amid news that Bitcoin (BTC) has seen a V-shaped recovery, trading above $63,500. Despite earlier concerns over MTGOX transfers, BTC has recovered quickly, and some investors are eyeing a price target of $70,000.

Worldcoin, the organization behind the WLD Coin, aims to onboard the entire world into crypto. The project recently launched its mainnet and transferred governance to the Worldcoin Foundation.

As reported, Worldcoin’s native token, WLD, launched on Binance, Bybit, Deepcoin, Deribit, Phemex and Poloniex on June 28. The token is designed to be used for governance, staking and operating Worldcoin Scan Nodes (WSNs).

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The WLD Coin team, also known as Tools for Humanity (TFH), announced that 80% of the tokens allocated to investors and team members will now unlock over five years, aligning with the long-term goals of Worldcoin’s mission.

According to the announcement, starting July 24, 2024, the WLD tokens allocated to TFH investors and team members will begin to unlock gradually each day.

The announcement adds that TFH played a key role in developing Worldcoin and later transferred governance to the Worldcoin Foundation prior to the protocol’s launch. Currently, TFH supports the Worldcoin Foundation by operating the World App, the first wallet compatible with Worldcoin.

The statement concludes by saying that, "Worldcoin’s mission is to onboard the entire world into crypto. Together with the community, we are building a new decentralized world where everyone has the opportunity to participate in the digital economy."

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