Worldcoin (WLD) has experienced a remarkable price surge, with its value increasing by over 10% to $2.31 in the last 24 hours. This significant jump has also led to a 10.56% rise in market capitalization, making Worldcoin the 95th largest cryptocurrency by market cap.

The price rally follows a major development from the Worldcoin team, who initiated a token unlock event managed by the Tools for Humanity (TFH) team on July 24. The event involves the distribution of most WLD tokens to individuals with official World IDs, who have been identified as unique humans by the team. Nearly six million unique individuals have participated in the Worldcoin network using this method.

The unlocking event is being conducted daily in a linear manner and will continue until 2026, with 3.20 million WLD tokens being unlocked. The TFH team has extended the unlock period from three years to five years to align with Worldcoin's broader mission. The WLD team has clarified that this token unlock will not affect WLD grants for World ID holders.

The token unlock event has been well-received by the community and is contributing to the bullish momentum in Worldcoin's price. The 10% surge appears to be the beginning of a long-term upward trend, driven by the increased liquidity and confidence in the project.

In conclusion, Worldcoin's price surge is a direct result of the token unlock event, which has injected new life into the project. As the unlocking event continues, it is likely that Worldcoin's price will continue to rise, making it an exciting time for investors and holders. However, only time will tell how the future will unfold for Worldcoin.