WCT Plunges 52% Amid Ethereum Integration, Major Transfers, and Solana Airdrop Announcement

WalletConnect Token (WCT) is currently trading at $0.5130 on Binance, reflecting a 24-hour decline of 10% with a 24-hour trading volume exceeding $435 million and a market capitalization of approximately $101.6 million. The recent price drop, which saw WCT fall from $1.066 on May 31 to $0.5130 on June 2, follows several key developments: the completion of WCT’s integration on the Ethereum network, a large transfer of 2.5 million WCT tokens to Binance by a WalletConnect-linked address, and the announcement of a 5 million WCT airdrop for Solana users. These events, combined with high trading activity and dynamic APR adjustments on Binance Earn, have contributed to increased volatility and selling pressure, driving the sharp decline in WCT’s price over the past 48 hours despite continued market interest.