CoinMarketCap’s WLFI Circulation Data Sparks Controversy

On-chain analyst Ai Yi has raised questions about the circulating supply figures for the WLFI token on CoinMarketCap. According to BlockBeats, the platform displays a significant initial circulation of 27.3 billion tokens, significantly higher than the previously estimated theoretical circulation of just 5 billion tokens. Based on the current market price of $0.3599, this discrepancy could lead to substantial sell-off pressure of $9.83 billion. Ai Yi’s analysis suggests that CoinMarketCap’s calculation of circulating supply involves subtracting tokens allocated to the team, advisors, partners and lockbox from the total supply, potentially including all strategic round tokens in circulation. This method has sparked doubts about its accuracy, as CoinMarketCap has yet to publicly address these concerns.