$WCT is currently trading around $0.68 - $0.70 USD. This reflects a significant increase of approximately 10-15% in the last 24 hours, building on a strong gain of over 40% in the last 30 days and over 90% in the last 90 days. Notably, WCT reached its all-time high (ATH) of approximately $0.7489 - $0.7511 USD on May 20, 2025 (just yesterday!).
Detailed Price Analysis:
WCT has recently entered its most bullish phase to date, achieving a new all-time high just yesterday. This signifies strong upward momentum and a break into uncharted price territory.
Recent Price Action & All-Time High Achievement: The recent surge pushed WCT to its all-time high of approximately $0.75 USD, marking a pivotal moment in its price history. This indicates a very strong bullish sentiment and a breaking of previous psychological and technical resistance levels. While it has seen a slight retreat from its ATH, the overall trend remains strongly positive, with a 24-hour gain of over 10% and a 7-day gain exceeding 12%.
Sustained Uptrend: The current price action is not an isolated spike but part of a sustained uptrend observed over the past month and quarter. This suggests underlying demand and potentially increasing adoption of the WalletConnect protocol. The token has shown a remarkable 66.2% increase over the last 14 days.
Strong Trading Volume: The 24-hour trading volume for WCT is robust, ranging from $87 million to over $370 million USD across various exchanges. High trading volume during an upward move adds credibility to the price surge, indicating genuine buying interest rather than manipulation.
Market Capitalization: With a current market cap of around $126 - $127 million USD, WCT ranks around #318-#322 in terms of popularity by market cap. Its fully diluted market cap is significantly higher at around $680 million USD, indicating potential for further growth as more tokens enter circulation over time.
Technical Outlook: While currently trading slightly below its ATH, the overall technical picture remains strongly bullish. The price is well above key moving averages, and despite the RSI potentially being in overbought territory on shorter timeframes due to the rapid ascent, the momentum often sustains such conditions in strong bull runs. The ATH itself now acts as a key resistance to be re-tested, while previous resistance levels below it (e.g., around $0.60 - $0.65) could now act as strong support. Some analyses suggest a breakout from a symmetrical triangle pattern.
Fundamental Drivers & Ecosystem: The strength of WCT is fundamentally linked to the WalletConnect Network, which serves as a critical infrastructure layer for Web3, enabling secure communication between crypto wallets and decentralized applications (dApps). With hundreds of millions of connections and millions of unique active wallets, WalletConnect plays a vital role in the Web3 ecosystem. The WCT token's utility includes:
Governance: Holders participate in protocol upgrades and fee structures. On-chain governance is set to launch in Q2 2025.
Staking & Network Incentives: WCT can be staked to secure the WalletConnect Network, with rewards for network participants and validators. Staking rewards began accruing in December 2024.
Future Fee Mechanism: WCT will be used for network fees and premium services in the future, with potential for AI-powered "Smart Sessions" where transaction fees will be paid in WCT.
Recent news of increased trading volume, major exchange listings (like Binance Launchpool in April 2025), and strategic focuses on AI and mobile adoption are contributing to the positive sentiment.
Tokenomics: WCT has a total supply of 1 billion tokens, with a circulating supply of approximately 186.2 million tokens (around 18.62%). Upcoming unlock events (e.g., starting June 15, 2025, and a larger unlock in November 2025) are worth monitoring as they will introduce more tokens into circulation and could impact price.
In conclusion, WCT is currently experiencing its most significant bullish moment, having recently achieved a new all-time high. This strong performance is driven by both technical momentum and the fundamental importance of the WalletConnect protocol in the Web3 ecosystem.
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