This Friday, Worldcoin ($WLD) has recently executed one of the biggest token shifts over the past months, depositing 117M $WLD tokens. Specifically, Worldcoin has transacted large amounts of $WLD to FalconX and Binance. As per the data from Lookonchain, following these transactions, Worldcoin received 35M $USDC. This move has triggered renewed discussion across the crypto sector, specifically as traders evaluate liquidity conditions.
Worldcoin’s Shift of $38.7M in $WLD Highlights Strategic OTC Liquidity Management
Based on the market data, Worldcoin has transferred a cumulative of 117M $WLD tokens, equaling a total value of $38.7M, to FalconX and Binance. The platform reportedly carried out these transactions via an OTC sale. Additionally, Worldcoin has obtained 35M $USDC tokens following completion of these transfers.
The vast scale of this token shift has led to several questions regarding investor sentiment and treasury strategy, as well as the potential of additional such transfers. Within the latest 12-hour window, the Gnosis Safe Proxy of Worldcoin started many large transactions. The biggest of them took into account 84.76M $WLD tokens shifted to FalconX, signifying $27.87M.
Platform Receives Substantial $USDC Tokens $WLD Transfers
Worldcoin reinforces the possibility of an OTC trade instead of a sell-off. A potential reason behind this move could be to circumvent market slippage. Along with that, another key transaction was the shift of 32.258M $WLD to Binance, accounting for $10.86M. This further supports the idea of a coordinated management of liquidity instead of an abrupt sell-off.
At the moment, $WLD is changing hands at $0.3215, showing a 3.52% dip over the past 24 hours, while its market cap underscores a 3.55% drop at $955M. Additionally, the current price displays 9.8% and 15.4% decreases in weekly and monthly performances. Moreover, the 24-hour volume of $WLD stands at $245.66M with a 6.45% plunge.
According to Lookonchain, Worldcoin received huge amounts of USDC from liquidity partners. Hence, FalconX transferred 25M $USDC to Worldcoin, whereas Binance transacted 9M $USDC and another 999.9K $USDC. The respective movements honestly indicate a structured process of settlement.
Source: https://blockchainreporter.net/worldcoin-moves-117m-wld-in-otc-deals-with-falconx-and-binance/