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 supporting multi-chain interactions, covering over 600 wallets and 58,000+ DApps, and has processed over 250 million connections cumulatively. The launch of its token WCT aims to promote the decentralization of the protocol through governance, staking, and network fees, but the current token usage scenarios still need to be improved.

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 issuance, the market selling pressure was significant, with some unclaimed tokens seen as potential selling reserves. The current price is about $0.6, compared to similar wallet tokens (such as Trust Wallet's $760 million FDV), the $370 million FDV of WCT may be underestimated, but in the 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 activities like staking mining, but the liquidity for spot trading has not been fully opened, with a strong market wait-and-see sentiment.

3. Technical Upgrades and Multi-Chain Expansion

Recently, WCT deployed to Solana through Wormhole's NTT technology, achieving native cross-chain asset transfer, and plans to airdrop 5 million WCT (worth about $3 million) to Solana users, marking the acceleration of its multi-chain strategy. In addition, the protocol is developing social features (such as cross-wallet chat) to further expand application scenarios. $WCT #WalletConnect #WCT

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