WalletConnect Token (WCT) is the native token of the WalletConnect Network, a decentralised infrastructure that facilitates secure, encrypted connections between wallets and applications across blockchain ecosystems. With over 23 million users and 150 million connections, WalletConnect is a cornerstone in the Web3 space.
Key Features of WCT:
Current Price: Approximately $0.7153 USD
Market Capitalisation: Around $79.5 million
Total Supply: 1 billion WCT tokens, with 186.2 million currently in circulation
Built On: Ethereum's Optimism Layer 2, offering faster and cost-effective transactions
Utility: WCT tokens are used for staking, governance, rewarding network participants, and potentially paying network fees in the future.
Important Considerations:
Recent reports have highlighted scams involving WCT, where malicious actors promote the token in private WhatsApp groups, leading to artificial price inflation followed by sudden dumps, causing significant losses for unsuspecting investors.
Investment Tips:
Conduct Thorough Research: Always verify information from official sources before making investment decisions.
Use Trusted Platforms: Purchase WCT through reputable exchanges like KuCoin, Upbit, or OKX.
Be Cautious of Unsolicited Offers: Avoid engaging with unsolicited messages or groups promoting investment opportunities.
WalletConnect Token (WCT) presents a promising opportunity in the decentralised finance landscape. However, it's crucial to approach investments with diligence and awareness of potential risks.
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