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WLFI token drops 17% amid whale selling after governance vote on large token unlock plan.

Protocol Fundamentals
30 Apr 2026
Blockonomi
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Bearish
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WLFI's price fell over 17% within 36 hours after a governance proposal to unlock 62.28 billion tokens over five years entered voting, dropping from $0.074 to around $0.061. The sharp decline coincided with a surge in whale activity, including 15 large transactions in four hours, and near-unanimous 99.5% approval of the proposal by voters. The plan allocates most tokens to insiders and early supporters, raising concerns about long-term dilution and governance concentration, with the top four wallets holding 40% of voting power. Critics labeled the proposal unfair, and ongoing disputes with prominent figures like Justin Sun add uncertainty to the project's future.

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