WalletConnect (WCT) is the token of the WalletConnect protocol, enabling cross-chain interaction between crypto wallets and decentralized applications (dApps). The protocol supports over 35 million users, processing 20 million+ connections monthly. WCT is used for paying fees, rewards, staking, and governance in the WalletConnect network.
- Price (June 13, 2025): ~$1.50–$1.60 (according to X and CoinMarketCap).
- Market capitalization: ~$400–$450 million.
- Trading volume (24h): ~$50–$80 million, below April peaks 2025.
- News:
- Listing on Binance April 15, 2025, which sparked increased interest.
- Launch of native multi-chain support with Wormhole NTT (Ethereum, Optimism).
- Integration with Solana for fast and cheap transactions.
- Launch of HamsterVerse on HamsterChain, using WCT to scale dApps.
Technical analysis
- Current situation: After the listing on Binance ($1.53 in April), the price rose to $2.10, but corrected to $1.50–$1.60. A symmetrical triangle is visible on the daily chart, signaling a possible breakout.
- Key levels:
- Support: $1.45–$1.50 (50-day SMA).
- Resistance: $1.80, then $2.10.
- Indicators:
- RSI (daily): ~45–50 (neutral zone, potential for growth).
- MACD: Approaching bullish crossover.
- SMA: Price around 50-day SMA ($1.50), above 200-day ($1.20).
- Volumes: Decrease from $200 million (April) to $50–$80 million, but accumulation continues.
- Chart: Price testing $1.50 in the triangle. A breakout at $1.80 could provide momentum. Check TradingView (WCT/USDT) or CoinMarketCap.
Fundamental factors
- Positive:
- WCT is a key Web3 infrastructure, connecting wallets and dApps.
- Multi-chain support (Solana, Ethereum, Optimism) and integrations (HamsterVerse) enhance utility.
- Growth in user numbers (35 million) and connections (20 million/month).
- Risks:
- Full token unlock (TGE in September 2024) creates selling pressure.
- Competition with other protocols (e.g., MetaMask).
- Criticism for trading on 'scam exchanges' like XT before Binance.
Recommendations
- For traders: Buy on holding $1.50 (target $1.80–$2.10, stop-loss $1.40). Sell on breaking $1.45 (target $1.20).
- For investors: Growth potential is linked to Web3 infrastructure, but consider token unlocks. Await news on new integrations.
- Monitoring: Follow X (@WalletConnect) and charts on TradingView.
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