Worldcoin (WLD)
Sam Altman-backed proof-of-personhood with global orb rollout but only 16.5% circulating; massive insider dilution incoming.
Ranked 196th of 251 rated tokens. Scoring pass 18 Sept 2026.
What the numbers say
WLD scores 89 of 250 across the 25-variable framework, which places it 196th of 251 rated tokens and inside the bottom quartile of the set. The framework verdict is PASS.
The score rests on Treasury Runway 7/10, 11th of 251, Exchange Depth 7/10, 12th of 251, Social Mindshare 6/10, 23rd of 251 and Active Users 6/10, 24th of 251.
Against the same universe, WLD sits in the bottom third on Supply Inflation 1/10, 249th of 251, Circulating / FDV Ratio 1/10, 249th of 251, Regulatory Safety 2/10, 247th of 251 and Vesting Schedule 1/10, 244th of 251. These are the variables that would have to move for the verdict to change.
Only 38% of WLD's maximum supply is in circulation, so 2.63x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 62% of the fully diluted value sitting ahead of today's holders. That is a heavy overhang: most of the eventual supply has not reached the market yet.
WLD trades 95.6% below its all-time high of $11.74. Recovering that level is a 22.7x move, not a 95.6% one, which is the arithmetic most drawdown charts hide.
The framework score gained 9 points against the previous pass (80 to 89). Revisions of this size follow a change in the underlying variables, not a change in price.
WLD is strong on Exchange Depth, and those are variables the market demonstrably pays for across the rated universe. Most of that quality is already in the price. Its weaknesses sit in P/S Multiple, Supply Inflation, Vesting Schedule, Buyback and Burn and 2 more, none of which the market is currently punishing. A risk nobody is charging for is still a risk.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 1 | 221st of 251 | |
| Revenue Trend | 2 | 191st of 251 | |
| P/S Multiple | 1 | 234th of 251 | |
| Real Staking Yield | 2 | 199th of 251 |
Supply
| Supply Inflation | 1 | 249th of 251 | |
| Vesting Schedule | 1 | 244th of 251 | |
| Circulating / FDV Ratio | 1 | 249th of 251 | |
| Buyback and Burn | 1 | 205th of 251 |
Ownership
| Smart Money Flows | 5 | 48th of 251 | |
| Insider Selling | 2 | 242nd of 251 | |
| Holder Concentration | 2 | 240th of 251 |
Traction
| TVL Trend | 2 | 189th of 251 | |
| Active Users | 6 | 24th of 251 | |
| Developer Activity | 6 | 33rd of 251 | |
| Network Growth | 6 | 32nd of 251 |
Position
| Market Share | 5 | 52nd of 251 | |
| Competitive Moat | 5 | 57th of 251 | |
| Institutional Adoption | 4 | 71st of 251 | |
| Exchange Depth | 7 | 12th of 251 | |
| Social Mindshare | 6 | 23rd of 251 |
Risk
| Regulatory Safety | 2 | 247th of 251 | |
| Catalyst Calendar | 5 | 50th of 251 | |
| BTC Alpha Potential | 4 | 45th of 251 | |
| Team Execution | 5 | 74th of 251 | |
| Treasury Runway | 7 | 11th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
World App user growth; WLD as identity layer for AI agent verification
Principal risk
Only 16.5% circulating with huge team/investor releases; biometric data privacy lawsuits in EU/Korea; zero protocol revenue; FDV ~$3.1B
Market and supply
| Price | $0.5146 |
| Market cap | $1.96Brank 51 |
| All-time high | $11.749 Mar 2024 |
| Circulating supply | 3,801,094,270 |
| Eventual supply (max supply) | 10,000,000,000 |
| Dilution to full supply | 2.63x |
| Listed on | Binance, OKX, Bybit, Coinbase |
Price, market cap, supply and all-time high from CoinGecko, fetched 7 Oct 2026. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to WLD measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
WLD compared head to head
Both sides of each comparison were scored by the same framework in the same pass, so the gap between them is a measurement rather than two readings taken with different rulers.
Sources
- [Worldcoin Blog] Worldcoin has verified 10M+ unique humans via iris-scanning Orbs as of early 2026
- [CoinGecko] WLD circulating supply is only ~17% of total with massive team/foundation releases through 2028link dead, claim unverified
- [Reuters] EU regulators and South Korea suspended Worldcoin data collection over GDPR biometric data concerns
- [CoinMarketCap] WLD ATH $11.74 reached March 2024
One source link above no longer resolves, so we stripped the hyperlink rather than leave something that looks like evidence until you click it. The claims stay visible because they are part of the research record, but treat them as unverified. Every link was rechecked 5 Oct 2026.
Common questions
- What is the Early Thunder score for Worldcoin (WLD)?
- WLD scores 89 out of 250 on the 25-variable framework, ranking 196th of 251 rated tokens (bottom quartile). The framework verdict is PASS.
- What are WLD's strongest fundamentals?
- WLD ranks highest on Treasury Runway 7/10, 11th of 251, Exchange Depth 7/10, 12th of 251, Social Mindshare 6/10, 23rd of 251 and Active Users 6/10, 24th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the WLD thesis?
- WLD scores in the bottom third of the universe on Supply Inflation 1/10, 249th of 251, Circulating / FDV Ratio 1/10, 249th of 251, Regulatory Safety 2/10, 247th of 251 and Vesting Schedule 1/10, 244th of 251. The single risk carried on the scorecard is: Only 16.5% circulating with huge team/investor releases; biometric data privacy lawsuits in EU/Korea; zero protocol revenue; FDV ~$3.1B
- How much WLD supply is still to enter circulation?
- 38% of eventual WLD supply is circulating today, leaving 2.63x the current float still to arrive. At a flat price per token that is 62% of fully diluted value ahead of current holders.
- How far is WLD from its all-time high?
- WLD trades 95.6% below its all-time high of $11.74. Returning to that high requires a 22.7x move from the level used in this scoring pass.
- Which tokens have a similar profile to WLD?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to WLD are EIGEN (107), TON (110), TAO (128) and W (92). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for WLD?
- World App user growth; WLD as identity layer for AI agent verification
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.