Many people panicked during this drop of WCT: 'Is the project failing?' But you need to calm down and think clearly about one question: Is it that the bubble has burst, or is the value being underestimated?
Don't forget, WalletConnect is the 'connector' of the entire Web3. When you scan a code with your wallet every day, it's working behind the scenes. With over 600 wallets and 60,000 dApps, which one can do without it? You could even say that without WalletConnect, these projects would have trouble even speaking up.
The early surge was due to everyone's optimism that it could become the 'infrastructure big brother.' Now that the price has pulled back, it is actually closer to its real value. The circulating market cap is only $62 million, compared to the 48 million users it serves, while competitors are casually valued at $300 million; it's really not expensive.
There are still a few 'catalysts' on the way: the Solana version has just launched, Optimism is also integrating, and the governance mechanism may also include revenue distribution. As long as these advance a step, the value of WCT will be pulled up a notch.
So the question is not 'can it still rise,' but 'do you believe in the future of Web3 infrastructure?' If so, then the current WCT might be a worthwhile entry point to consider.
