Alameda Research is still restructuring its holdings. A series of transactions have shown the transfer of Worldcoin (WLD) to Binance.
Alameda Research is still in the process of transitioning its wallet, making early repayments to FTX creditors. On-chain activity shows that Worldcoin (WLD) has once again been transferred to Binance, possibly for liquidation.
WLD has always been one of Alameda’s known holdings, although the amount after liquidation is relatively small compared to the overall payment to FTX. Over the past three months, Alameda has been selling WLD, liquidating a total of 1.7 million tokens estimated to be worth $2.48 million. Alameda liquidated WLD at an average price of $1.67. The last WLD deposit was made on October 16, with an amount of 143K WLD.
The latest transaction with Binance involves 143K WLD, worth $317,000. Alameda’s wallet still contains over $50 million worth of WLD, which may take several years to divest its holdings. Alameda Research is an early investor in Worldcoin as well as other cryptocurrencies and tokens.
Alameda’s wallet has seen a decrease in spending over the past six months. After the initial rapid liquidation, the wallet has slowed down in activity. Even after the sales, Alameda’s wallet ranks 22nd among over 30,000 Worldcoin holders in its Ethereum version. Alameda still owns 0.23% of the total supply. Out of a total supply of 10 billion tokens, there are nearly 56 million circulating WLD tokens.
Alameda’s wallet has received inflows of high-risk meme tokens. The wallet has also shown a series of token inflows related to Uniswap V2. The wallet has been active in trading over the past two weeks and has received new positions in risk meme tokens.
Most of these risky tokens lose value through rug pulls, and it is currently uncertain how they ended up in Alameda’s wallet. In the past week, there have also been outflows from several small companies, including Cere Network (Cere), Curve (CRV), IDEX, and AERGO. Alameda has stopped panic selling, and its trades are mostly seen as planned sell-offs.
The value of the wallet is still at $152.3 million, benefiting from the overall market recovery. WLD has also become more valuable to Alameda, rising to $2.24, well above the recent average selling price. Even after the recent sell-off, Alameda’s portfolio has rebounded after the recent downturn.
In the past few months, there were concerns that Alameda’s sell-off could further pressure the market. This time, Alameda sold during a bull market, and the lack of sufficient holdings did not cause a price drop. WLD has also been rising in the past month, adding value to Alameda’s portfolio.
Alameda itself was not mentioned as a supporter of Worldcoin. The only connection to the project is Sam Bankman Fried, who is referred to as an undisclosed angel investor. Alameda Research itself has 231 investments, with amounts ranging from $3 to $10 million and an average ROI of over 100 times.
Worldcoin is entering a new phase with more tokens being unlocked. Currently, only 11.39% of the tokens are in circulation. One assumption from Alameda’s sales is that it eventually has the right to transfer tokens and cash out.
World Chain has welcomed its first batch of users. Worldcoin is entering a new phase with more tokens being unlocked. Currently, only 11.39% of the tokens are in circulation. One assumption from Alameda’s sales is that it eventually has the right to transfer tokens and cash out.
Worldcoin is entering a new phase with more tokens being unlocked. Currently, only 11.39% of the tokens are in circulation. One assumption from Alameda’s sales is that it eventually has the right to transfer tokens and cash out.
The wallet processed over 245,000 transactions in the first few days after its launch. The ultimate goal is to migrate a total of 15 million users to L2, although currently only around 30,000 wallets hold WLD. Worldcoin aims to become a globally used asset and continues to provide real identities to new users through its biometric data orb.
With the launch of its native World Chain, WLD is now inviting predictors for greater appreciation. The new L2 chain has already locked in $90 million worth of value in the first few days, including $6 million stablecoins.
WLD’s market capitalization has also recovered to $1.33 billion, with a fully diluted valuation exceeding $240 billion. WLD managed to rebound to $10.67 during the bull market in March, sparking hopes of a recovery.
There have been some doubts about the utility of the Worldcoin project, but WLD tokens are turning into a speculative asset expected to see a breakthrough. Open interest in WLD contracts is also slowly recovering, nearing the three-month high of $193 million.