The WorldCoin team has moved 30 million of its native WLD tokens, worth an estimated $8.17 million, into a custody wallet managed by digital asset trust company BitGo. The transfer adds a significant amount of WLD to the available liquid supply.
The transaction was first reported by the on-chain analyst Onchain Lens, which monitors blockchain activity for significant token movements. According to the analyst, the destination wallet at BitGo now holds a total of 153.65 million WLD, bringing its total value to approximately $41.35 million.
Large token transfers from project teams are closely watched by traders for clues about future price direction. While moving tokens to a custodian like BitGo is not the same as sending them to an exchange for immediate sale, it increases the amount of supply that is liquid and could be sold on the market more easily.
The key question for investors is whether these tokens are being positioned for future sales. Further movements of these tokens from the BitGo wallet to exchange deposit addresses could signal an intent to sell, potentially putting downward pressure on WLD's price. For now, the move is seen as neutral to slightly bearish as it increases the readily available supply.
This article is for informational purposes only and does not constitute investment advice.
