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**What is WCT?**
WalletConnect Token is the native governance and utility token of the WalletConnect Network—a decentralized protocol enabling secure dApp access via crypto wallets (Ethereum, Solana, Optimism, etc.) ([nftevening.com][1], [coinbase.com][2]). It supports network governance, relayer incentives, staking, and user rewards.
**Market Snapshot:**
* Trading around **\$0.32–\$0.33 USD**, with a market cap near **\$60 million** and \~186 million tokens circulating (max supply 1 billion) ([forbes.com][3], [coinmarketcap.com][4]).
* Daily volume fluctuates between \$36–42 million .
* ATH was \~\$1.34 on May 31, 2025; ATL \~\$0.28 on April 15, 2025 ([coingecko.com][5]).
**Key Events & Price Drivers:**
* A **36 % surge** followed its listing on South Korea’s Upbit in April 2025 ([coinspeaker.com][6]).
* Recently, WCT rallied \~11 % after announcing a planned airdrop tied to Solana and Jupiter ecosystem staking ([crypto.news][7]).
* However, the token saw a **30 % drop post-launch** and technical chart weakness signaled bearish head—shoulders patterns, shaking investor confidence ([binance.com][8]).
* Speculation with pump‑and‑dump concerns via private social channels, plus unclear near‑term utility, contribute to volatility ([binance.com][8]).
* On the upside, upcoming ecosystem expansion (Solana airdrop, chain integration) and promised scalability improvements may revive momentum.