In the cryptocurrency wave of 2025, the story of WCT is filled with drama. As the token of WalletConnect, WCT has attracted attention since its inception. On April 15th, it was listed on major exchanges like Binance and OKX on its debut, giving many investors hope for wealth appreciation.
I am one of them. I have been following cryptocurrencies and, hearing about WCT's listing, thought it was a good opportunity. On the first day of trading, I invested in WCT, eagerly anticipating a big profit. Initially, although WCT's price fluctuated, it remained relatively stable, which delighted me.
However, the good times didn't last long. As discussions in the market about WCT's low circulation rate and delayed utility grew, its price started to decline. Worse still, a large number of WCT tokens were continuously deposited into exchanges, triggering a wave of selling. In just one week, WCT's price dropped by 20%.
Later, I learned that of the initially circulating WCT, 44% came from Binance Launchpool mining releases, while early institutional holdings like Coinbase accounted for 32%. These early investors had a low cost basis and sold off in a frenzy as soon as they made a small profit. Additionally, the critical fee payment scenarios had not been implemented, and the rewards pool tokens would only be gradually released over the next few years. All these factors contributed to WCT's continued price slump. In the end, I reluctantly cut my losses and left the market, deeply realizing the high risks of cryptocurrency trading.
