The WalletConnect (WCT) token jumped 11% after news that participants in Jupiter would be eligible for a cryptocurrency claim linked to WalletConnect's Solana expansion.

WalletConnect is up 11%

The WalletConnect token rose on Thursday, May 29, amid buzz about an upcoming airdrop linked to Solana, with some participants in Jupiter now listed. Following this news, the price of WCT increased by 11.6%, currently trading at $1.06, according to CoinGecko data. The token has gained 276.8% over the past month, rising from $0.2814 on April 15.

The price increase followed rising expectations regarding WCT's expansion to Solana. During the Solana Accelerate event, Pedro Gomez, the founder of the WalletConnect Foundation, stated that the token would launch on the network later this month via the Wormhole Native Token Transfers standard.

Details of the airdrop have not been finalized yet, but the WalletConnect Foundation confirmed that a claim for 5 million WCT will be available to Solana users, with the help of Jupiter, Phantom, Backpack, and Solflare in identifying eligible users and distributing the token.

The WalletConnect Foundation stated in a press release: โ€œThe goal is to identify real users, those who are actually building, depositing, and transacting on Solana. [โ€ฆ] This comes in the wake of the successful token claim for 2024.