The WalletConnect Token (WCT) has witnessed a notable increase in its value by 11.6% during trading on Thursday, following the announcement by the WalletConnect Foundation of a free token distribution (Airdrop) campaign aimed at users of the Solana network, which significantly boosted demand for it.

According to data from CoinGecko, the price of WCT jumped to $1.06, compared to its price of $0.2814 in mid-April, recording gains exceeding 276% in less than a month, amid growing confidence in the project's future and its expected expansion.

This rise comes after statements from WalletConnect founder, Pedro Gomez, during the Solana Accelerate conference, where he announced plans to list the token on the Solana network this month, using the Wormhole’s Native Token Transfers standard, which enhances WCT's position as a multi-chain token after its previous presence on the Ethereum and Optimism networks.

The foundation mentioned that 5 million WCT tokens will be allocated for distribution to eligible users in the Solana system, in collaboration with several major projects such as Jupiter, Phantom, Backpack, and Solflare, which will oversee the eligibility verification and organize distribution mechanisms to ensure that the tokens reach the rightful recipients.