Alameda Research Continues Depositing Worldcoin WLD into Binance

Coin World reported:
Alameda Research is still restructuring its holdings. A series of transactions show that Worldcoin (WLD) has been transferred to Binance.
Alameda Research is still in the process of transitioning its wallet to repay its debt to FTX creditors. On-chain activity shows that Worldcoin (WLD) has been transferred to Binance again, potentially 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 in the past three months, liquidating a total of 1.7 million tokens worth an estimated $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 143K WLD.
The latest transaction with Binance involved 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.
In the past six months, Alameda’s wallet has slowed down after the initial rapid liquidation. Even after the sale, Alameda’s wallet ranks 22nd among over 30,000 Worldcoin holders on its Ethereum version. Alameda still holds 0.23% of the total supply. WLD has a circulating supply of nearly 56 million tokens out of its total supply of 10 billion.
Alameda’s wallet has received a series of meme tokens with high risk. The wallet has also shown an influx of tokens related to Uniswap V2. The wallet has been active in trading over the past two weeks and has received new positions in risky meme tokens.
Most of these risky tokens end up losing value through rug pulls, and it is currently uncertain how they ended up in Alameda’s wallet. In the past week, several small companies have experienced capital outflows, including Cere Network (Cere), Curve (CRV), IDEX, and AERGO. Alameda has stopped panic selling, and its transactions 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 rebounded after the recent downturn.
In the past few months, there have been concerns that Alameda’s sell-off could further pressure the market. This time, Alameda sold during a bull market and did not have enough holdings to cause a price drop. WLD has also been rising in the past month, adding value to Alameda’s portfolio.
Alameda itself has not been 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 undisclosed amount. Alameda Research itself has 231 investments, with amounts ranging from $3 million to $10 million and an average ROI of over 100x.
World Chain welcomes 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 of Alameda’s sale is that it eventually has the right to transfer tokens and cash out.
Worldcoin has handled 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 about 30,000 wallets hold WLD. Worldcoin aims to become a global asset for everyday use, continuing to provide real identities to new users through its biometric data orb.
After launching its native World Chain, WLD is now inviting predictors for greater appreciation. The new L2 chain has already locked in $90 million in value within 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 of over $240 billion. WLD managed to rebound to $10.67 during the bull market in March, sparking hope for a recovery.
The Worldcoin project has raised some doubts about its utility, but WLD tokens are turning into a speculative asset expected to see a breakthrough. The open interest in WLD contracts is also slowly recovering, approaching the three-month high of $193 million.