Worldcoin distributes 90 million WLD, opens up reservation portal

• Worldcoin distributed some of its tokens to eight new addresses.
• Despite allowing reservations, WLD circulation decreased.

According to Arkham Intelligence, Worldcoin [WLD] has resumed the distribution of its tokens. The blockchain, whose fundamentals align with a unique approach to global identity and a universal basic income system, sent 90 million WLDs to eight separate addresses.

How much are 1,10,100 WLDs worth today?

Spreading the word

Based on data from the crypto analytics platform, one of the beneficiaries was liquidated hedge fund Three Arrows Capital (3AC). The recent issuance means that Worldcoin has distributed 248 million WLDs in total to 26 different wallets. 

While the move reflects the project’s commitment to empowering individuals across the globe, Arkham also showed that its official wallet had a balance of 1.25 billion WLDs.

Source: Arkham Intelligence

Interestingly, the token distribution coincided with the period when Worldcoin announced that users of WorldApp could now reserve WLD tokens. According to Worldcoin, WorldApp users can reserve the tokens even if their WorldID hasn’t been verified.

To verify WorldIDs, users need to visit the Orb, Worldcoin’s eye-scanning technology center in their country. But as of this writing, the Orb was not yet available in several countries across the world. 

And comments from its Twitter page showed that users were happy about the unavailability. Despite the announcement, Worldcoin’s network growth resisted improvement. At press time, Santiment showed that the network growth was down to 2,159.

Waning traction and circulation

Network growth shows the number of new addresses joining a network. When the metric increases, it implies increased adoption. But when it falls, it means that the project is not getting enough traction.

So, in Worldcoin’s case, the network growth means that the adoption of WLD has been at a slower pace.

Source: Santiment

Like the network growth, the seven-day circulation also fell to 10.53 million. Circulation shows the number of unique coins/tokens used during a particular period. Moreso, if a token exchanges hands more than once within a day, it means it circulated once.

So, the decline means that fewer WLDs have been used in the last seven days. At worst, the same set of addresses have been involved in transacting WLD on a daily basis. 

Realistic or not, here’s WLD’s market cap in BTC’s terms

Furthermore, the state of the weighted sentiment did not change from that of the circulation of the network growth. Weighted sentiment combines positive and negative commentary about an asset based on unique social volume.

When the metric is positive, it means that the average perception around the asset reeks of optimism. Thus, WLD’s weighted sentiment at -0.254 implies that the negative polarity toward the token was strong.

Source: Santiment