$WCT is trading approximately at $0.38 - $0.39 USD. This reflects a slight increase of around 0.5-1.5% in the last 24 hours, but a noticeable decrease of roughly 10-12% over the past 7 days and a significant decline of approximately 25-30% over the last month. More critically, WCT is down by about 70-72% from its all-time high (ATH) of $1.34 - $1.37 USD (depending on the source) reached in late May 2025.

Detailed Price Analysis:

The WalletConnect Token ($WCT) is currently experiencing a strong downward correction after its recent all-time high, indicating a period of significant profit-taking and potential market re-evaluation. Its price action reflects the volatility typical of newly launched or highly anticipated tokens that undergo initial price discovery followed by consolidation.

  • Recent Price Action: WCT witnessed a sharp surge to its ATH in May 2025, largely driven by anticipation and recent airdrop announcements. However, it has since entered a significant corrective phase, with consistent selling pressure pushing it down from its peak. The current price hovers near previous support levels, suggesting a battle between buyers attempting to find a bottom and sellers looking to exit. The short-term upticks seen in the last 24 hours are minor bounces within a larger downtrend.

  • Technical Indicators:

    • On the daily and weekly timeframes, WCT is showing bearish momentum, with its price trading significantly below its recent short-term moving averages. The 50-day moving average, if it hasn't already, will likely start to slope downwards, indicating a shift in short-term trend.

    • The Relative Strength Index (RSI) is likely in oversold or near-oversold territory on shorter timeframes, which could signal a potential bounce, but without strong buying volume, such bounces tend to be short-lived. On longer timeframes, the RSI reflects the strong recent correction.

    • Key immediate resistance levels are around $0.40-$0.42, and more strongly at $0.45-$0.50. A clear break above these levels with significant volume would be required to signal a potential reversal. Crucial support levels are forming around $0.37-$0.38, and if these fail, the price could revisit its all-time low of approximately $0.27-$0.28 (from April 2025).

  • Trading Volume & Market Cap: WCT has a significant 24-hour trading volume, recently ranging from $40 million to $55 million USD. Its market capitalization is approximately $71 million - $75 million USD, placing it within the top 400-600 cryptocurrencies. The high volume suggests active trading and significant speculative interest, but the current downward trend indicates that selling pressure is currently dominating.

  • Fundamentals and Ecosystem Development: WalletConnect is a critical infrastructure provider in Web3, enabling secure connections between cryptocurrency wallets and decentralized applications (dApps) across over 300 blockchains. The WCT token is the native utility token of the WalletConnect Network.

    • Core Utility: WCT serves several crucial functions: Governance (holders vote on protocol updates, fee structures), Staking (contributing to network security for rewards), Future Network Fees (dApps might pay fees in WCT for high-traffic relay services), and Rewards/Incentives (for developers, node operators, and users).

    • Decentralization Drive: The introduction of the WCT token aims to further decentralize the WalletConnect network, aligning incentives among users, developers, and node operators. The network has an initial total supply capped at 1 billion tokens.

    • Strategic Importance: WalletConnect is an essential piece of Web3 infrastructure, facilitating millions of connections monthly. Its widespread adoption across wallets and dApps gives its underlying network significant strategic value.

    • Recent News: Recent news includes eligibility criteria for WCT airdrops (e.g., to Jupiter voters, Backpack badge holders), which likely fueled some of the recent price volatility, as well as announcements about new governance tools and incentives. The community round IEO price was $0.20 in February 2025, which gives context to current price levels for early participants.

  • Outlook: WCT's future price action will largely depend on its ability to find strong support after this correction and on the continued adoption and development of the WalletConnect Network. While its fundamental utility as a crucial Web3 infrastructure component is undeniable, the token's recent price action highlights the inherent volatility of new tokens, especially those with large allocations for airdrops and team. Long-term value will depend on the successful implementation of its tokenomics (fees, staking rewards), sustained ecosystem growth, and overall crypto market sentiment. Investors should exercise caution and monitor development closely.

In conclusion, WalletConnect Token ($WCT) is currently undergoing a significant price correction after a recent surge to its all-time high, reflecting a period of consolidation and profit-taking. While its role as a fundamental piece of Web3 infrastructure provides a strong long-term use case, its price is highly susceptible to market sentiment and the dynamics of its recent token launch and airdrop events. Investors should conduct thorough due diligence, paying close attention to its technical support levels, upcoming utility implementations, and the broader health of the cryptocurrency market.