WCT (WalletConnect Token) is the governance and utility token of WalletConnect, the core communication protocol of Web3. It addresses the fragmentation issue of the blockchain ecosystem through a standardized wallet-DApp interaction protocol. Its core value lies in building a secure decentralized communication layer, supporting users to seamlessly connect over 200 wallets, including MetaMask and Trust Wallet, and thousands of DApps through QR codes, deep links, and other methods. It has become a key infrastructure in scenarios such as DeFi trading, NFT minting, and cross-chain bridging.
Currently, market performance is under pressure, quoting at 0.2956 USDT (down 78.4% from the historical high of 1.3667), but on-chain data reveals positive signals: daily transaction volume reaches 34.31 million USD (turnover rate 62.38%), indicating that fund activity has not diminished due to lower prices. Short-term trends need to focus on two major variables: first, the increase in circulation due to token unlocks (total supply 1 billion, current circulation 187 million), which may intensify selling pressure; second, the progress of protocol technical upgrades—if v2.0 multi-chain expansion and account abstraction integration are implemented smoothly, it will significantly enhance practical value.
The medium to long-term potential depends on the breadth of ecological adoption. With WalletConnect cooperative projects exceeding 1,900 (including industry leaders like Uniswap and OpenSea), its position as a gateway-level tool for Web3 is increasingly solidified. If the bull market cycle restarts and the protocol captures more on-chain interaction value, WCT is expected to achieve a reassessment of value based on its essential nature, while breaking through previous highs will rely on the restoration of market sentiment and the resonance of ecological TVL growth.
