Why Worldcoin’s Market Cap Is Booming Even as WLD Price Remains Flat

Worldcoin defies conventional crypto logic—market cap surges while token price stagnates. What gives?

The Supply Squeeze

Mass adoption drives user growth, locking up tokens through World ID verifications. More eyeballs, less liquid supply—basic economics, even if Wall Street still struggles with the concept.

Institutional Whisper

Rumors swirl about hedge fund accumulation. They’re buying the narrative, not the noise—because nothing says ‘forward-thinking’ like betting on eyeball-scanning crypto.

Network Effect Acceleration

Every new user verification tightens the supply screw further. The math works—until it doesn’t, but for now, scarcity trumps price action.

Worldcoin proves once again that in crypto, fundamentals matter—except when they don’t. The market cap boom continues, leaving traditional finance scratching their heads and counting their missed opportunities.

WLD’s Price Growth Cannot Keep Up With Unlocks

According to BeInCrypto data, WLD is currently priced at around $1.77. It WOULD need to rise about 6.6 times to reach its peak of nearly $12 in March 2024.

Yet, WLD’s market capitalization has already surged, reaching $3.58 billion, more than double the $1.74 billion peak from March 2024.

This creates a paradox often overlooked by investors: the market cap has soared, but the token price has lagged. This situation raises questions about the project’s true health and potential risks for holders.

The explanation lies in supply dynamics. In 2024, only 13% of the WLD supply, or about 1.3 billion tokens, was circulating. CryptoRank data shows that the circulating supply has now increased to 20%, or 2 billion tokens, in September 2025.

Eightco Holdings revealed a $250 million corporate treasury strategy centered on Worldcoin. This announcement helped double market capitalization in less than a week.

As a result, the market cap set new highs, while the price remained far below its previous peak. It appears WLD’s price growth cannot keep pace with the unlocking schedule.

WLD Enters Acceleration Phase of Unlocks

WLD’s unlock chart shows the project entering an acceleration phase until the end of 2028. The steep slope of the chart illustrates this trend.

This has triggered investor concerns about dilution risk in the future.

“Worldcoin’s $WLD unlock schedule is brutal: >10B WLD to hit the market by 2038. With most supply still locked, future dilution risk is massive,” investor Stan_Crypto said.

Concerns about WLD’s unlock pace are not new. The project adjusted its plan last year, reducing daily unlocks from around 3.3 million to 2 million. Still, skepticism persists.

Additionally, data from Santiment shows rising selling pressure. WLD also recorded a one-year high in token inflows to exchanges, reaching 37.5 million WLD on September 9.

This MOVE signals attempts to capitalize on higher prices and strong liquidity for profit-taking.

The paradox of Worldcoin reflects a broader feature of the crypto market: market capitalization growth does not necessarily translate to stable token prices. Investors should carefully evaluate unlock schedules and dilution risks before committing to any project.