The listing on Coinbase on the Optimism network became the main factor for the growth of WalletConnect Token ($WCT ), supported by technical signals and positive community sentiment, despite existing risks. Well, let's figure out why WalletConnect Token (WCT) grew by 9.29% over the last 24 hours. First, let's look at the data. The current price shows a noticeable increase over the day, which stands out against the backdrop of changes over 7 and 30 days.
News often mentions that Coinbase has added support for WCT on the Optimism network. Coinbase's announcement on August 13 about the start of trading on August 14 likely became a key factor for growth. Listing on major exchanges usually leads to price increases due to expanded access and heightened interest.
Regarding technical analysis, the relative strength index (RSI) is around 52.15, indicating that the coin is not yet overbought and there is potential for further growth. The MACD histogram is slightly negative, but the lines are close to each other, which may indicate a possible trend reversal. The price is above the 7-day moving average (SMA), which is a positive signal.
It is also worth considering the community's opinion and discussions on social media. Users are saying that $WCT may reach the $1 mark again, creating a FOMO effect (fear of missing out on profits). However, the high trading volume of coins and past price fluctuations remain risk factors.
In a broader context, the cryptocurrency market has grown by 3.96% over the past 24 hours, so part of the growth $WCT T may be related to the overall upward trend. However, WCT has shown stronger growth, indicating the influence of coin-specific factors.
Result: the main driver of growth was the listing on Coinbase, technical indicators support a positive sentiment, while market sentiments and discussions in the community play a secondary role. It is also important to consider the risks associated with high supply and volatility. Additionally, it is worth monitoring further events, such as changes in liquidity after the listing#wct #Write2Earn #WalletConnect #creatorpad @WalletConnect
