WCT Drops 7.5% After Solana Expansion, 5M Airdrop, and Major Token Transfers Spur Volatility

WalletConnect Token (WCT) is currently trading at $1.2323, with a 24-hour trading volume of $1.24 billion and a market capitalization of $222 million; the price has decreased by 7.53% over the past 24 hours, moving from an open of $1.3326 to the current level, amid high volatility and intense trading activity. The recent price movement is primarily attributed to heightened market attention following WalletConnect’s expansion to Solana, a 5 million WCT airdrop to Jupiter stakers, and significant token transfers—including 2.5 million WCT moved from WalletConnect’s official wallet to an Arrington Capital-associated address—which initially drove the price to a new all-time high before a subsequent pullback as traders reacted to profit-taking and increased supply on exchanges.