📉 WalletConnect Token (WCT) Faces Sharp Decline Amid Market Volatility
As of June 1, 2025, WalletConnect Token (WCT) is trading at approximately $0.52, marking a significant drop of over 50% in the past 24 hours. This downturn follows a recent peak of $1.35 on May 30, 2025, indicating a substantial correction in a short period. (CoinGecko, CryptoRank)
📊 Market Overview
* Current Price: $0.52
* 24h Trading Volume: Approximately $1.63 billion
* Market Cap: Around $96.8 million
* Circulating Supply: 186.2 million WCT
* Total Supply: 1 billion WCT(Coinbase, Binance, WEEX, CoinGecko)
🔍 Recent Developments
The sharp decline in WCT's price is attributed to a combination of factors:
* Profit-Taking: After a rapid ascent from $0.20 to $1.35, early investors may be securing profits, leading to increased sell pressure.
* Market Sentiment: The broader crypto market is experiencing volatility, influencing investor confidence.
* Technical Indicators: The token's price has fallen below key support levels, signaling potential bearish trends ahead.(Coin Gabbar)
🔮 Outlook
While the current trend shows a bearish outlook, some analysts suggest that if WCT can stabilize above the $0.60 mark, there might be potential for recovery. However, if the price continues to decline, the next support levels to watch are $0.40 and $0.20. (Coin Gabbar)
⚠️ Investor Advisory
Given the current volatility, investors are advised to exercise caution and conduct thorough research before making any investment decisions related to WCT.
Note: Cryptocurrency markets are highly volatile and can change rapidly. Always consult with financial advisors and conduct personal research before investing.
