📉 Sharp price drop
On May 31, 2025, WCT experienced a sharp price drop of 42% in two days, falling from $1.39 to around $0.61. This decline was associated with mass sell-offs, particularly on the South Korean exchange Upbit, where trading volume reached $558 million, accounting for 35% of the global volume. Analysts believe that this drop may have been caused by profit-taking from early investors after the rapid price increase from $0.20 in April to $1.39 at the end of May.
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🌉 Expansion to Solana and airdrop
At the end of May, WalletConnect announced the launch of WCT on the Solana network via the Wormhole NTT protocol. As part of this event, airdrop of 5 million WCT is planned for active Solana users, including holders of Phantom, Backpack, and Solflare wallets, as well as Jupiter stakers. This expansion enhances WCT's multi-chain presence, previously available on Ethereum and Optimism, and aims to increase scalability and community engagement.
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📈 Current price and market indicators
As of June 3, 2025, WCT is trading at about $0.55, with a market capitalization of approximately $102 million and a circulating supply of 186.2 million tokens. This reflects a decline of nearly 60% from the peak of $1.37 reached on May 31.
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🔮 Forecasts and market expectations
Despite the recent decline, some analysts view the current situation as an opportunity to accumulate the token. They note the strong fundamentals of WalletConnect, including its widespread use in the Web3 ecosystem, and expect that upcoming roadmap updates, integrations, and listings could contribute to a price recovery.
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📌 Conclusion
WCT exhibits high volatility characteristic of new low-cap tokens. While the recent price drop may raise concerns, the fundamental aspects of the project and plans to expand multi-chain presence may support long-term growth. Investors are advised to closely monitor official updates and assess risks before making investment decisions.
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