$WCT Today's Market Commentary: Web3 Protocol Tokens Rise Against the Trend, Driven by Institutional Buying and Ecological Expansion for Short-Term Explosion
Today, the Web3 protocol token WCT leads the small and medium market capitalization sector in the cryptocurrency market at a price of $0.62, with a 24-hour increase of 213.55% and a trading volume exceeding 660 million yuan, making it one of the most active trading targets in the crypto space today.
After briefly exceeding $0.65, the WCT price retreated to the $0.62 range, with a 24-hour turnover rate of 99.2%, indicating abundant market liquidity.
WCT's strong performance is closely tied to its ecological expansion. As a Web3 communication protocol connecting cryptocurrency wallets and decentralized applications, WalletConnect has been very active recently.
In addition, WCT's buyback plan is also steadily advancing; although specific data has not been disclosed, the market generally expects it to reduce supply through a destruction mechanism, thereby enhancing token scarcity.
WCT's strong rise provides opportunities for swing trading, but it is essential to closely monitor the resistance level around $0.65, and one should also pay attention to the actual application progress of WCT in the Layer2 ecosystem.
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