Alameda Research Continues Depositing Worldcoin WLD into Binance

Bijie.com reported:
Alameda Research is still transforming its holdings. A series of transactions shows the transfer of Worldcoin (WLD) to Binance.
Alameda Research is still changing its wallet to repay its debts to FTX creditors in advance. On-chain activities show 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. Alameda has been selling WLD for the past three months, liquidating a total of 1.7 million tokens with an estimated value of $2.48 million. Alameda liquidated WLD at an average price of $1.67. The last WLD deposit was made on October 16th, with an amount of 143,000 WLD.
The latest transaction with Binance involves 143,000 WLD, worth $317,000. Alameda’s wallet still holds 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.
In the past six months, Alameda’s wallet expenses have actually slowed down after the initial rapid liquidation. Even after the sale, Alameda’s wallet ranks 22nd among the over 30,000 Worldcoin holders on its Ethereum version. Alameda still holds 0.23% of the total supply. Out of the total supply of 10 billion, there are nearly 56 million WLD tokens in circulation.
Alameda’s wallet has received a series of meme token inflows with high risk. 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, receiving new positions of risk meme tokens.
Most of the 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 fund 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 sales.
The value of the wallet is still $152.3 million, benefiting from the overall market recovery. WLD has also become increasingly valuable to Alameda, rising to $2.24, well above the recent average selling price. Even after the recent sell-off, Alameda’s portfolio has recovered somewhat after the recent decline.
In recent months, there have been concerns that Alameda’s sell-offs could further pressure the market. This time, Alameda sold during a bull market, and the lack of sufficient holdings did not cause the price to 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 angel investor with an unknown amount. Alameda Research itself has 231 investments, with amounts ranging from $3 million to $10 million, and an average ROI of over 100 times.
World Chain welcomes its first users.
Worldcoin is entering a new phase with more tokens being unlocked. Currently, only 11.39% of the tokens are in circulation. One assumption of Alameda’s sales is that it eventually has the right to transfer the tokens and cash out.
Worldcoin has 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 there are only about 30,000 wallets holding WLD. Worldcoin aims to become a global asset for everyday use and continues to provide real identities to new users through its biometric data sphere.
After 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 in value in the first few days of its launch, including $6 million in stablecoins.
The market capitalization of WLD 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, giving hope for a recovery.
The Worldcoin project has raised some doubts about its utility, but the WLD token is turning into a speculative asset expected to have a breakthrough. Open interest in WLD contracts is also slowly recovering, nearing the three-month high of $193 million.