Yesterday the market declined, and altcoins were hit by the Middle East conflict.
However, today the U.S. announced that the war is over.
Once the leading wallet coin $WCT, it has now fallen to $0.33, with an FDV (fully diluted valuation) remaining at $300 million. With the trend towards stablecoins and global compliance, does it still have a chance for a comeback?
SOL phone and WCT linkage
On May 24, WalletConnect announced that WCT officially launched on the Solana network, with technical support provided by the cross-chain protocol Wormhole, and liquidity access achieved through Jupiter. Less than a week later, on May 30, the official released another major announcement: the Solana Mobile phone will include a claim plan for 5 million WCT.
On one side is the hot Solana ecosystem, and on the other side is directly opening up the user hardware entry point, which undoubtedly represents a phenomenal expectation for user growth.
For WCT, does this mean a true 'turning point'?
WalletConnect: Once the leader in web3 wallet connections, now renamed to Reown
On September 17, 2024, WalletConnect officially announced its rebranding to Reown, not only an upgrade of the brand but also representing its strategic transformation to the next stage of development.
WalletConnect was established in 2018 and early on became the core infrastructure connecting Web3 wallets and DApps. As a **chain-agnostic** protocol, it can seamlessly connect multiple ecosystems such as EVM, Solana, Cosmos, and Polkadot. It supports over 600 wallets and 40,000 DApps, with connection counts exceeding 150 million.
WCT: No more room to drop, small market cap, big imagination space?
$WCT It is the native token within the WalletConnect ecosystem, with a supply limit of 1 billion, and the current FDV is only $300 million, appearing extremely 'light' among Web3 infrastructure tokens. Its core functions include:
Fee payment
User rewards
Staking
Governance voting
WalletConnect almost occupies all currently profitable areas and will support key mechanisms like on-chain fee structures and ecological incentives in the future, becoming the value carrier of the entire WalletConnect network.
Can it return to being the wallet leader? It depends on three dimensions
1. User growth driver: Solana linkage is the key testing ground.
The Solana phone + WCT airdrop is a large-scale experiment. If user participation is high, it will greatly enhance WalletConnect's on-chain activity and usage frequency.
2. Global compliance: The scarcity of infrastructure coins is beginning to emerge
As Web3 moves towards compliance and a high user experience path, infrastructure focused on cross-chain interaction and protocol layer improvements, like WalletConnect, will gain more attention and support.
$WCT , #WalletConnect @WalletConnect
Valuation is very low
WalletConnect's vision is to become the 'communication protocol stack' in the Web3 world, enabling developers to provide greater flexibility for users to connect to decentralized applications (DApps).
If the market is healthy, WalletConnect is clearly worth bottom-fishing.
✅ Suggested bottom-fishing area
Buying range: $0.30 - $0.35
Corresponding FDV: below $350 million (undervalued range)
This area belongs to a 'value pit' where market sentiment is overly cold + fundamentals are not recognized, suitable for phased layout and ambushing potential rebounds.
❌ Profit-taking and risk points:
Not recommended for long-term holding range: FDV exceeds $500 million (corresponding to a coin price above $0.50)
By then, the good news will have basically been realized, and the valuation will enter the bubble warning zone. Gradual profit-taking is advisable.