WCT (Waves Community Token) is one of the projects on the Waves network, created to support projects on the Waves blockchain, especially the communities and developers building on the system.
Reasons for WCT's recent decline (as reflected in market performance and general analysis):
Lack of activity and support: WCT no longer enjoys the same support or usage as it did in its early days, especially after the focus shifted to newer projects on the Waves network.
Issues with the Waves platform itself: The Waves network has faced several criticisms regarding governance, transparency, and centralization, which have affected its tokens including WCT.
General market decline: The market as a whole is experiencing strong fluctuations, especially with the decline of Bitcoin and Ethereum, leading to drops in most altcoins.
Lack of liquidity and trading: WCT has seen low trading volume, making price movements sharp and unstable, increasing the likelihood of a drop during any selling pressure.
Absence of updates and development: There are no strong news or technical updates related to WCT anymore, which weakens trust in the project and drives investors to exit.
Summary:
The decline of WCT is linked to several factors, including weak support and development, lack of liquidity, general market decline, and internal issues within the Waves network. Currently, there is no strong momentum pushing the coin upwards unless significant developments are announced.
