$WCT is trading approximately at $0.38 - $0.40 USD. This reflects a decline of roughly 4-8% in the last 24 hours and a more significant drop of about 11-15% over the past 7 days. On a monthly timeframe, WCT has experienced a substantial decrease of roughly 22-35%, and notably, it is down by over 70% from its all-time high (ATH) of $1.37 USD (achieved in May 2025).
Detailed Price Analysis:
WalletConnect Token ($WCT) is currently undergoing a significant correction after a recent surge that saw it reach its all-time high in late May 2025. This retracement is a common occurrence for newly launched or highly anticipated tokens following initial price discovery, and its current price action is largely indicative of profit-taking and market re-evaluation.
Recent Price Action: WCT's price has been on a downward trend over the past two weeks, following its rapid ascent to its ATH. The current trading range suggests a search for a new equilibrium as early investors take profits and the market digests its initial valuation. The consistent daily and weekly declines point to a prevailing bearish sentiment in the short term, though some analyses highlight potential stabilization around the $0.38-$0.40 support zone.
Technical Indicators:
On shorter timeframes, WCT's price is currently below its key short-term moving averages (like the 50-day EMA), indicating a bearish trend. The 200-day moving average, however, has been sloping up since early June, suggesting that despite recent pullbacks, the longer-term trend could still be seen as strong if the current support holds.
The Relative Strength Index (RSI) is typically in the neutral zone, which implies that the token is neither severely overbought nor oversold, allowing for continued price movement in either direction without immediate strong reversal signals. However, the lack of significant bullish divergence suggests that a strong upward rebound may not be imminent without a fresh catalyst.
Immediate resistance is likely around $0.41-$0.42, with further significant resistance at $0.44 and the psychological barrier of $0.50. Key support levels are identified around $0.38 and potentially lower towards its all-time low of $0.278 (April 2025) if the current support fails to hold.
Trading Volume & Market Cap: WCT maintains a substantial 24-hour trading volume, recently ranging from $50 million to $130 million USD. Its market capitalization is approximately $70 million - $75 million USD, placing it within the top 400-500 cryptocurrencies. The notable trading volume, despite the price decline, indicates active market participation and interest, suggesting that many traders are still engaging with the asset.
Fundamentals and Ecosystem Development: WCT is the native utility and governance token of the WalletConnect Network, a crucial piece of Web3 infrastructure that enables secure connections between decentralized applications (dApps) and various crypto wallets across over 300 chains.
Core Utility: WCT's utility is multifaceted: it is used for governance (allowing holders to vote on protocol upgrades and fee structures, with on-chain governance expected in Q2 2025), staking (to secure the network and earn rewards, with staking rewards active since December 2024), and will eventually be used for network service fees (e.g., based on Monthly Active Users).
Strong Adoption: The WalletConnect Network boasts impressive adoption statistics, with over 300 million cumulative connections, 47.5 million unique wallets, and integrations with 66,500 dApps as of May 2025. The network's growth increased by over 240% in the past 12 months. This widespread adoption underpins the fundamental demand for the WCT token.
Tokenomics and Supply: WCT has a fixed total supply of 1 billion tokens. While a significant portion (around 18.6%) is currently in circulating supply, various allocations (for team, foundation, rewards, and future airdrops) are subject to vesting schedules, meaning a large portion remains locked. Upcoming unlock events, such as a 2.5 million WCT unlock around June 25, 2025, could introduce additional selling pressure.
Recent Developments: WalletConnect recently expanded its WCT token to the Solana network with a 5 million WCT airdrop for active Solana users, aiming to broaden its ecosystem. The project is also betting on AI and mobile adoption to drive its next phase of growth, with "Smart Sessions" aiming to redefine wallet user experience.
Outlook: WCT's price action is currently in a corrective phase following a post-listing rally. While the short-term outlook appears bearish, the project's strong fundamentals, significant network adoption as a core Web3 infrastructure provider, and continuous development (including expansion to Solana and focus on AI integration) present a compelling long-term value proposition. The future price trajectory will largely depend on the broader crypto market sentiment, the successful implementation of its roadmap, and how the market absorbs future token unlocks. Investors should carefully consider the volatility and ongoing distribution schedule.
In conclusion, WalletConnect Token ($WCT) is experiencing a post-launch price correction, presenting short-term volatility. However, its foundational role in Web3 connectivity, robust adoption metrics, and active development roadmap (including governance, staking, and expansion into AI and other blockchains) suggest strong long-term potential. While caution is advised due to current market dynamics and token unlock schedules, WCT's utility as a vital piece of the decentralized ecosystem makes it a project to watch.
