Since the linear unlocking of WLD investors’ tokens began in late July, two bankrupt institutions—Three Arrows Capital (3AC) and Alameda Research—have been steadily selling their unlocked WLD holdings.
Both firms were major investors in the token and have taken to liquidating their assets following their respective financial collapses.
Three Arrows Capital, which acquired 75 million WLD tokens through its initial investment, has been offloading its unlocked tokens since July. As of now, 3AC has sold a total of 2.538 million WLD, valued at approximately $4.06 million. The pace of their sales suggests that 3AC will take nearly three years to fully liquidate their WLD holdings.
WLD 投资人的代币自 7 月底开始线性解锁以来，两个已破产清算、也是 WLD 投资人的机构正在持续出售已解锁的 WLD。
1⃣3AC (Three Arrows Capital)
3AC 通过投资获得 7500 万枚 WLD，自 7 月底开始陆续出售已解锁 WLD，目前共计出售了 253.8 万枚 WLD ($4.06M)。https://t.co/LmS29cetJL2⃣Alameda… https://t.co/hQp1KmsdOE pic.twitter.com/Y9fOuTSIxY
— 余烬 (@EmberCN) September 21, 2024
Alameda Research Has Also Sold Off Its WLD Holdings
Similarly, Alameda Research, another prominent WLD investor, has followed a weekly selling pattern since the beginning of August. Alameda, which initially secured 25 million WLD tokens, has so far sold 1.129 million WLD, worth around $1.8 million. Like 3AC, Alameda’s current pace indicates it will take several years to completely sell off its WLD tokens.
Despite these continuous sales from both institutions, the market impact on WLD has been relatively stable so far. However, with large amounts of unlocked tokens still left to be sold, the liquidation process could create prolonged selling pressure on the token in the coming years.
Based on current sales frequencies and quantities, it’s estimated that it will take around three years for both 3AC and Alameda to fully unlock and sell their WLD holdings. Investors and market participants are closely monitoring the situation, as ongoing sales could influence future price movements and liquidity in the WLD market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: Vintage Tone/Shutterstock.com