WCT Sees 10% Drop After Solana Expansion and 5 Million Token Airdrop Spurs Volatility

WalletConnect Token (WCT) is currently trading at $1.0535, with a 24-hour trading volume of approximately $1.38 billion and a market cap near $195 million; the token has declined 10.47% over the past 24 hours after opening at $1.1767, following a recent all-time high of $1.35. The recent price volatility and correction are primarily attributed to the aftermath of WCT’s Solana network expansion and the 5 million token airdrop, which initially drove significant bullish momentum and a sharp price rally, but was followed by profit-taking and large token transfers, prompting a pullback despite overall strong monthly and weekly performance.