Recent sharp decline has triggered market controversy. The fundamentals of the project, market sentiment, and historical performance need to be analyzed from multiple dimensions:

1. Core Risks: Overvaluation bubble and continuous selling pressure. WCT's annual revenue is only 2 million, with a PS ratio as high as 60 times, far exceeding the industry average, leading to valuation regression pressure. Circulation hazards include 44% retail mining chips and 32% early-stage institutional holdings, which can easily trigger sell-offs.

2. Defects in Token Economic Design: Utility lagging, lack of value capture ability, inflation incentives backfiring, continuously suppressing coin price.

3. Competitive Landscape and Ecological Bottlenecks: Limited market share, low revenue conversion rate, commercialization prospects are questionable.

Potential Opportunities: Undervalued repair and ecological catalysis. Technical oversold rebound space, ecological progress and value reassessment, long-term layout window. The comparison of key long and short indicators shows that although there is a bubble, the market value has been significantly discounted, presenting a rebound opportunity.

Current valuation is high, selling pressure has not been released, and there is a risk of going to zero; if the price falls below $0.3 and the Q3 fee mechanism is implemented, there is hope for a reassessment of value. It is recommended that investors strictly adhere to discipline, engage in short-term event-driven rebound speculation, and wait for right-side signals in the fundamentals for long-term, avoiding blind bottom fishing. #WallectConnect $WCT @WalletConnect