Alameda Dumps 143K WLD on Binance: Worldcoin Crash Imminent?

• Alameda Analysis has transferred 143.77K WLD tokens to Binance.
• Since August ninth, Alameda has deposited a considerable 2 million WLD tokens.
• Alameda nonetheless has a major 23.01 million WLD (over $47.6 million) left.

Alameda Analysis, the sister firm of bankrupt crypto trade FTX, transferred 143.77K WLD tokens to a centralized trade (CEX). This transfer raises issues that the altcoin may decline, because the agency has offered a major quantity of WLD in latest months.

Blockchain evaluation platform Spot On Chain reported that Alameda Analysis has deposited 2 million WLD tokens (value roughly $3.46 million) to Binance since August 9 “in a number of small batches, more likely to repay collectors.”

FTX and its associated entities, together with Alameda, filed for chapter in 2022 and owe billions of {dollars} to collectors. The corporate has been promoting WLD tokens to repay this debt and nonetheless has 23.01 million WLD (over $47.6 million) left. Spot On Chain estimates that it might take Alameda over 3 years to completely liquidate these remaining tokens on the present fee.

Alameda, based by Sam Bankman-Fried (SBF) and Tara Mac Aulay in 2017, had secret backdoor entry to FTX buyer funds. SBF and a few of his associates have been just lately sentenced, with Alameda CEO Caroline Ellison serving jail time.

WLD Token to Crash?

WLD buying and selling quantity fell 17.48% prior to now 24 hours to $210.35 million. The altcoin’s market capitalization is $1.22 billion. The cryptocurrency is buying and selling 82.36% beneath its all-time excessive of $11.82.

Learn additionally: VeChain, Solana, Worldcoin Lead in High 8 Altcoins with Upside Potential

CoinMarketCap knowledge reveals that WLD is buying and selling at $2.08 and reached a day by day excessive of $2.14 prior to now 24 hours. WLD has dropped 9.16% prior to now week however is up 3.19% within the final 30 days. Since November 2023, Worldcoin has risen 14.77%.