#Write2Earn $WCT

WalletConnect Token (WCT) rose 2.44% in 24 hours, driven by its Solana integration and airdrop announcement, alongside bullish technical momentum.

Solana expansion: 5M WCT airdrop to Solana users on May 23 boosted adoption sentiment.

Utility roadmap: Founder Pedro Gomes highlighted plans for governance/staking roles.

Technical breakout: MACD bullish crossover and RSI at 64 signal upward momentum.

Deep Dive

1. Primary catalyst

The May 23 Solana integration and 5M WCT airdrop (Pedro Gomes) triggered immediate buying interest. This follows WalletConnect’s strategic shift to chain-agnostic interoperability, leveraging Solana’s high-speed infrastructure. Historical data shows similar airdrops (e.g., 50M WCT in 2024) correlate with short-term price spikes due to liquidity incentives and user acquisition.

2. Technical context

MACD: Bullish divergence (histogram +0.0118) since May 20 aligns with the 17.29% rally noted in May 20 market highlights.

RSI: At 64.02 (7-day), WCT approaches overbought territory but remains below the 70 threshold that typically signals overheating.

Price levels: The 23.6% Fibonacci retracement ($0.656) now acts as support, with the 10-day SMA ($0.601) reinforcing the uptrend.

3. Market dynamics

The broader crypto market rose 1.54% in 24 hours (May 25–26), but WCT outperformed due to project-specific catalysts. Solana’s own 3.2% price gain post-announcement created a halo effect, while WalletConnect’s pivot to multi-chain DeFi aligns with the sector’s 95% TVL growth over 30 days (DeFi highlights).

Conclusion

WCT’s gains reflect targeted ecosystem growth and technical momentum, though sustainability depends on delivering promised utility upgrades. Will Solana’s user base convert into long-term WCT holders, or will profit-taking reverse the trend?