WCT Plunges 46% After Binance Listing, Airdrop Release and Staking Program Fuel Volatility

WalletConnect Token (WCT) is currently trading at $0.5839 on Binance, reflecting a 24-hour decline of 46.15% from an open of $1.0844, with exceptionally high trading volume and significant volatility observed across the market. The sharp price drop in the last 24 hours follows a period of heightened activity driven by WCT’s recent Binance Spot listing, the launch of a staking program, a 5 million WCT airdrop to Solana users, and active promotional campaigns such as Binance Square’s 'Write to Earn.' These developments initially fueled strong demand and price spikes, but the subsequent release of airdropped tokens, profit-taking by early recipients, and rapid trading activity have contributed to the pronounced sell-off and increased short-term volatility.