✅ WalletConnect Token (WCT) rose 1.59% over the last 24h, outpacing its 7-day (-14.35%) and 30-day (+0.24%) trends. The uptick aligns with recent ecosystem developments and technical oversold conditions. Key drivers:
Solana Integration – Binance enabled WCT deposits/withdrawals on Solana (July 10), boosting utility.
Governance Momentum – New proposals and reward campaigns announced (August 4).
Oversold Bounce – RSI7 at 30.39 signals short-term buying interest.
Deep Dive
1. Solana Integration (Bullish Impact)
Overview: Binance completed WCT’s Solana integration on July 10, 2025, allowing users to transact WCT on Solana’s high-speed, low-cost network. This followed a 5 million WCT airdrop to Solana users in June.
What this means:
Enhanced cross-chain utility increases WCT’s accessibility for DeFi and NFT use cases.
Solana’s ecosystem growth (326M+ WalletConnect connections as of July 16) may drive demand for WCT as a governance and fee token.
What to look out for: Sustained trading volume on Solana-based platforms like Jupiter DEX.
2. Governance & Staking Activity (Mixed Impact)
Overview: The WalletConnect Foundation introduced new governance proposals (August 4) and expanded staking rewards, with 121.3M WCT staked (22% APY).
What this means:
Governance participation incentivizes long-term holding, reducing sell pressure.
However, 80% of WCT’s 1B supply remains locked, creating future dilution risk if unlocks aren’t managed.
What to look out for: Voting outcomes for fee structures and inflation mechanisms in Q3 2025.
3. Technical Rebound (Neutral Impact)
Overview: WCT’s 24h rise occurred alongside oversold signals (RSI7: 30.39) and a retest of the $0.282 Fibonacci support.
What this means:
Short-term traders may be capitalizing on discounted prices after a 34% 60-day decline.
Resistance looms at the 7-day SMA ($0.311) – a break above could signal momentum reversal.
