The WalletConnect Token (WCT) has experienced a sharp decline in its value of nearly 50% over the past 24 hours, dropping from around $1.35 to between $0.52 and $0.56.
WCT futures on centralized exchanges have seen negative funding rates reaching -2%, with liquidations exceeding $4.8 million within 4 hours, surpassing Bitcoin and Ethereum liquidations during the same period.
