📉 $WCT Downfall: Hype to Collapse
Once hailed as a promising multichain interoperability project, WCT (Wormhole Coin Token) saw a dramatic fall from grace due to a series of missteps and market skepticism:
🚨 Security Breach: A major turning point was the $320M hack in 2022, exposing vulnerabilities in the Wormhole bridge, shaking investor confidence.
📉 Investor Exit: Despite patches and relaunches, liquidity drained, whales exited, and volume plummeted.
😶 Lack of Utility: Many began questioning WCT’s real-world use case beyond bridging chains — innovation slowed, and narrative dried up.
🔁 Tokenomics& Dumping: Unfavorable token unlock schedules and suspected insider sell-offs fueled a rapid price decline.
👥 Community Sentiment: Once vibrant, the community fragmented as transparency decreased and roadmaps became vague.
From being a cross-chain pioneer to becoming a cautionary tale, WCT reminds us that tech hype without consistent delivery and trust can’t sustain long-term value.
