Worldcoin's Centralization Dilemma: 100 Wallets Still Dominate 93% of Total Supply
The brainchild of Openai CEO Sam Altman, worldcoin (WLD) burst onto centralized crypto exchanges in late July 2023. The cryptocurrency aims to verify users’ identities by scanning their irises. The project also plans to address financial inequality and online identity authentication through its World ID feature. On its July 24 debut, WLD struck its zenith of $3.30 per token. But since that apex, the price has nosedived. Now fluctuating between $1.20 and $1.38, worldcoin recently plunged to an all-time low of $1.02 per coin on September 5.
From July 24 until August 18, new wallets mushroomed. But in the weeks since then, expansion has decelerated to a crawl, with addresses swelling just over 11% in that period. This slowdown suggests worldcoin’s initial burst of skyrocketing adoption has eased into a steadier, more modest climb. Moreover, while there are close to 600,000 WLD wallets, the top 100 control 93.82% of the entire supply of 176.89 million WLD. The 100 addresses commanding most of the supply hold 165.96 million worldcoin tokens. The Worldcoin contract address operated by the development team commands 95.87 million WLD or 54.2% of the supply. Worldcoin also owns the second largest wallet, holding 30.98 million tokens or 17.51%.
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