WalletConnect's native token has seen a sharp decline, falling from $1.3915 to $0.3429, a drop of over 75%. The downturn reflects broader market volatility and possible investor concerns despite WalletConnect’s continued role as a vital Web3 protocol connecting crypto wallets and decentralized apps (dApps). Analysts suggest the price correction may stem from profit-taking, macroeconomic factors, or low adoption of the token itself. While the core WalletConnect technology remains widely used and respected in the DeFi space, the steep decline in token value highlights ongoing uncertainty in the crypto asset market.
