#wct WCT is the governance and utility token powering WalletConnect, the decentralized protocol that enables secure wallet‑to‑dApp connections across multiple blockchains. It facilitates staking, governance participation, airdrops, and aligns incentives across users and node runners. Investors and developers see it as part of Web3 identity and connectivity infrastructure. 

WCT serves as a governance token and can be staked for network participation and reward mechanisms .

• It was distributed via a substantial airdrop, where roughly 50 million tokens were allocated to early users—30M to engaged users and 20M to contributors like node operators and developers. Staking rewards became available from December 19, 2024 onwards with lockups up to two years. Several users have reported that fraudulent groups and WhatsApp channels are promoting WCT to pump-and-dump, echoing the behavior seen with CLEU stock. These groups encourage retail investors to buy high and often dump at inflated prices, leading to sharp crashes. 

“WCT is likely to dump in early next week… a perfect pump‑dump … pumped and dumped by WhatsApp‑Facebook groups” 

“They lure investors … then sell off their holdings … once enough people buy in”