1. Project Positioning and Ecological Value

WalletConnect, as the core protocol of Web3 infrastructure, has evolved from a simple QR code connection tool to a communication layer that supports multi-chain interactions, covering over 600 wallets and 58,000+ DApps, and has handled over 250 million connections. The launch of its token WCT aims to promote the decentralization of the protocol through governance, staking, and network fees, but the current usage scenarios for the token still need improvement.

2. Market Performance and Price Expectations

• Initial Circulation and Airdrop Pressure: The initial circulation of WCT reached 18.5% (186.2 million tokens), and after the first round of airdrop distribution, market selling pressure was significant, with some unclaimed tokens viewed as potential sell-off reserves. The current price is around $0.6. Compared to similar wallet tokens (such as Trust Wallet's $760 million FDV), WCT's $370 million FDV may be undervalued, but short-term caution is needed regarding the pullback risk caused by high circulation.

• Exchange Dynamics: WCT has been listed on platforms such as Binance and OKX, and has attracted users through staking mining and other activities, but spot trading liquidity has not yet been fully opened, and market sentiment remains cautious. $WCT #WalletConnect #WCT

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