WalletConnect Token (WCT) fell 46.5% in 24 hours due to profit-taking after airdrop distributions and technical overbought conditions, amplified by the cooling of cryptocurrency market sentiment.
1. Massive sell-off driven by airdrop: 5 million WCT distributed to Solana users triggered profit-taking.
2. Correction due to overbought conditions: The RSI-7 reached 77.1, signaling extreme bullish exhaustion.
3. Overall market decline: The cryptocurrency market capitalization fell 1.87%, with altcoins underperforming Bitcoin.

$WCT