Worldcoin (WLD) surged 10% in value, hitting $2.31, following a crucial update from its developers.

Major Price Surge Details

A tremendous increase in the value of Worldcoin (WLD) has recently occurred. In the past day, WLD has experienced a 10% spike, reaching $2.31, as reported by CoinMarketCap. It is now the 95th biggest cryptocurrency by market cap, having soared 10.56% to $683 million.

A major announcement from the Worldcoin team has coincided with this price surge. The WLD community witnessed the start of the big token unlock on July 24.

The Tools for Humanity (TFH) group's responsibility is to organize this gathering. The majority of WLD tokens will be issued to those with legitimate World IDs, as stated in the original statement.

Based on what the team has shared, they will be awarded these coins for being exceptional humans.

Worldcoin’s Token Unlock Event

U.Today elaborates that they went on to say that this strategy has allowed nearly six million different people to join the Worldcoin network. The unlocking event has been started by the team and will be carried out in a linear fashion every day.

The Tools for Humanity team informed the Worldcoin Foundation last week that 80% of the WLD coin, which they hold, will be unlocked during this much-anticipated event. Also, the original duration of three years is now five years. The overarching goal of Worldcoin is being followed by this.

Also, the WLD crew has come clean about the fact that World ID users' WLD awards will be unaffected by this token unlock. Last year, the WLD unlock first started.

A total of 12.5 million WLD tokens were made available during this period. The current plan is for it to run until 2026 when 3.20 million WLD tokens will have been unlocked.

Community’s Reaction

The community as a whole is ecstatic about this WLD token unlock. Additionally, it is adding upward momentum to Worldcoin's price. The 10% increase today seems to be the beginning of a sustained trend of rising prices.

This indicates that the chances of this bullish trend continuing are high. However, the future will only be revealed by the passage of time.