As a seasoned financial analyst with over a decade of experience in the crypto market, I have seen my fair share of projects that raise red flags. The recent allegations against Worldcoin (WLD) are particularly concerning, and as someone who values transparency and honesty in the industry, I believe it’s important to address these accusations head-on.
As a researcher delving into the cryptocurrency sphere, I’ve come across some concerning developments surrounding Worldcoin (WLD). Lately, there have been allegations of potential price manipulation by the team, leading to intense scrutiny and discussions within the crypto community. Notably, influential on-chain investigator ZachXBT has weighed in on this issue, implying that the accusations against Worldcoin may hold merit.
“Biggest Scam Token Of The Bull Run”
ZachXBT recently expressed his strong skepticism towards Worldcoin, labeling it as the most questionable cryptocurrency token during the current bull market. His criticism was prompted by a report from DeFi Squared, who claimed that the Worldcoin team had been artificially influencing the value of their token.
In his article, DeFiSquared expressed concern over Worldcoin’s team allegedly manipulating WLD‘s value, contrasting Alex Blania’s assertion that they have no market control. He pointed out that an enormous 11-figure valuation for Worldcoin hinges on the team’s unique token design. Furthermore, DeFiSquared accused the team of regularly impacting the token’s daily price fluctuations through deliberate adjustments to emissions.
DeFiSquared stated that Worldcoin’s price fluctuations are influenced by the team through strategic market maker contracts and carefully-timed announcements prior to unlocks. This observation from the crypto trader prompts the query of why Worldcoin’s team persists in denying any control over the market.
During the discussion, the crypto trader expressed his concern that Worldcoin’s team announcement regarding the extension of the token unlock schedule for 80% of their holdings from three to five years was an intentional attempt to influence the price of the coin.
It’s unlikely a mere coincidence that DeFi Squared announced favorable news only days before the unlock period. This timing has significantly boosted WLD‘s value by over 30%. Notably, this development has shown remarkable power in persuading retail investors to bid up prices and increase liquidity for insiders to sell their holdings once the unlock period starts on July 24.
Retail Investors Serving As Exit Liquidity For The Worldcoin Team Me
It was disclosed by DeFi Squared that a significant proportion of WLD token holders, who are retail investors from South Korea, are responsible for maintaining the coin’s high valuation prior to the unlocking of the tokens. This expert opines that these investors might not fully comprehend the implications of Worldcoin’s token economics design and how team members could potentially utilize their tokens as a means for an exit.
It’s intriguing that the South Korean authorities initiated an examination of WLD this year due to suspicions surrounding their handling of user data. Furthermore, aside from price manipulation claims, there have been allegations that the Worldcoin team has infringed upon data privacy regulations in multiple countries. This is achieved by providing Orb devices to users in exchange for WLD tokens, which then reportedly collects and transmits personal information.
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2024-07-20 17:11