The world of cryptocurrency continues to evolve rapidly, and the emergence of new tokens is an integral part of this process. Today, I will analyze WalletConnect Token (WCT)—a project that could become a key element in the development of the decentralized internet (web3). If you are an investor or trader looking for long-term prospects, WCT deserves your attention.
What is WalletConnect?
Before delving into the details of the token, it is important to understand its ecosystem. WalletConnect is a protocol launched in 2018 that allows users to securely connect their crypto wallets to decentralized applications (dApps). Currently, the network supports over 300 blockchains, including Ethereum, Binance Smart Chain, and others. It is used to interact with dApps such as decentralized exchanges (e.g., PancakeSwap), games, and lending platforms.
The company formerly known as WalletConnect Inc. recently rebranded and is now called Reown. This change symbolizes its focus on improving the user experience in web3. Reown continues to develop tools like AppKit and WalletKit, which make interaction with decentralized services more intuitive and secure.
What is WalletConnect Token (WCT)?
WalletConnect Token (WCT) is the native token of the WalletConnect Network. It was launched on the OP Mainnet of Optimism, ensuring high transaction speeds and Ethereum-level security. The token became fully transferable on April 15, 2025, marking an important milestone in the project's development.
WCT performs four key functions:
1. Fees: Although currently there are no fees for using the network, token holders may vote to introduce them in the future.
2. Rewards: Tokens are distributed among users, developers, and node operators to stimulate activity.
3. Staking: WCT holders can stake their coins to earn rewards and participate in the governance of the network.
4. Governance: Token holders have voting rights within the DAO (Decentralized Autonomous Organization), allowing the community to control the network's development.
Tokenomics: Key Figures
The total supply of WCT is 1 billion tokens. As of the analysis date (April 17, 2025), there are 186.2 million tokens in circulation (18.62% of the total supply). The token distribution is as follows:
- Core Development: 7% (70 million WCT)
- Rewards: 17.5% (175 million WCT)
- Airdrop: 18.5% (185 million WCT)
- Team: 18.5% (185 million WCT)
- Investors: 11.5% (115 million WCT)
- WalletConnect Foundation: 27% (270 million WCT)
It is worth noting that the tokenomics model does not provide for inflation in the initial stage. However, the community may vote to introduce it in the future if necessary for the sustainability of the network.
Market Metrics
As of the analysis, the market metrics for WCT look as follows:
- Price: $0.3674
- Market Capitalization: ~$68.4 million
- Trading Volume (24 hours): ~$264.9 million
The token is traded on major centralized exchanges like Binance, where the WCT/USDT pair shows significant liquidity ($14.2 million over 24 hours).
Why is WCT of interest?
1. Growth of the web3 ecosystem
As the number of dApps and users needing secure ways to connect wallets increases, WalletConnect remains a key player. The network already processes over 20 million connections monthly for 5 million users. This makes it one of the most scalable platforms for interacting with web3.
2. Decentralized governance
The DAO governance model allows the community to adapt the network to changing needs, enhancing its resilience and attractiveness. Participants can influence the development of the project by voting on changes and approving budgets.
3. Partnerships and Integrations
The network is supported by leading node operators such as Consensys, Kiln, Ledger, and Figment. These partnerships strengthen the decentralized infrastructure of WalletConnect and enhance trust in the project.
Risks and Warnings
Like any crypto asset, WCT is associated with risks:
1. Market Volatility: The token's price can fluctuate significantly, making it a risky asset for short-term investments.
2. Regulatory changes: Potential restrictions from regulators may impact the project's development.
3. Lack of transparency: Some analysts point out the absence of a clear token release schedule, which may create distrust among investors.
How to get started with WCT?
If you have decided to invest in WCT, here are a few steps to help you get started:
1. Purchase tokens: WCT is available on major exchanges like Binance. Use the WCT/USDT pair to buy.
2. Staking: Place your tokens in a staking pool for passive income and voting rights in the DAO.
3. Participation in governance: Join votes and propose changes for the development of the network.
Conclusion
WalletConnect Token (WCT) is not just another cryptocurrency. It is a key element of the decentralized ecosystem of the WalletConnect Network, which connects millions of users with web3 applications. With its features—staking, rewards, governance, and potential fees—WCT allows users and developers to actively participate in the development of the network.
Considering current trends and the significance of WalletConnect in the ecosystem, WCT could become an important asset for those who believe in the future of the decentralized internet. However, as always, it is advisable to conduct your own research and consider market risks before making decisions.
Ready to bet on the future of web3? WCT is your chance to be part of this revolution.
$WCT
#WCT #wctustd #WCTCommunity #WCTtoTheMoon
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