WalletConnect’s WCT Token Surges Over 20% Amid Notable #BİNANCE Transfer Linked to Arrington Capital

In a shocking turn of events that has pulled in no small amount of attention from the crypto trading scene, #WalletConnect ’s native token, WCT, has blasted 20.91% higher in the past 24 hours, vaulting it up to a price of $0.93.

This stellar gain makes $WCT the top-performing token in the entire cryptocurrency market today.

The sudden, significant price change is matched by a large-scale transaction involving a wallet that seems to be linked with Arrington Capital, a well-known, crypto-focused, investment entity. The address in question—identified as 0x19F…cCA67—snagged a hefty haul of 2.5 million WCT tokens just eight hours before the swarm of buy orders that drove the token’s price to recent all-time highs.

These tokens were sent from WalletConnect’s official multi-signature wallet and were then deposited into the centralized exchange Binance.

A $2.34 Million Transaction Raises Eyebrows

About 2.34 million US dollars, according to present market prices, is the estimated worth of the 2.5 million WCT tokens that were transferred. What makes this transaction even more remarkable is the earlier activity tied to the same address. This same wallet had received, according to on-chain data, the identical sum of WCT tokens, 2.5 million, during the Token Generation Event about a month ago and held onto them until this latest transfer.

Following the transactional history and token distributions associated with this address points to an apparent link with Arrington Capital, a well-known early-stage crypto investment firm. The association makes sense, given the firm invests widely in blockchain projects across the world. What isn’t obvious is whether the latest transfer into Binance is meant for market making or for selling into the markets. Neither WalletConnect nor Arrington Capital has seen fit to issue a statement that might help clear up the murk.

Even though it’s unclear what the motive was, the link between the deposit and the subsequent price rally of the token has made the crypto community lively with speculation.$BNB #GENIUSActPass #TraderLeagueS2 @WalletConnect