WLD Market Maker Adds $1.42 Million to Binance Reserves, Price Plummets 53.4%

IconCryptoNewsTerminal Staff28 Jul, 2024

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WLD Market Maker Adds $1.42 Million to Binance Reserves, Price Plummets 53.4%

WLD, the native token of the Worldcoin project, has seen its price plummet by 53.4% since May 4th, when its market maker, Amber Group, began transferring large tranches of WLD to exchanges. On-chain analyst ai_9684xtpa noted that just two hours ago, Amber Group deposited another 600k WLD ($1.42 million) to Binance, bringing the total amount transferred since May 4th to 4.15 million WLD ($17.08 million). The price of WLD has been in a downtrend since the initial transfer three months ago, and the latest deposit has further accelerated the decline. The token is currently trading at $2.36, down from a high of $5.05 on May 4th. The reason for the large sell-off is unclear, but it is likely due to a combination of factors, including concerns about the project's long-term viability and the recent bear market in cryptocurrencies.

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