WCT Faces Volatility After Solana Expansion, 5M Token Airdrop, and Governance Program Reveal

WalletConnect Token (WCT) is currently trading at $0.5246 on Binance, down 5.48% over the past 24 hours, with a 24-hour trading volume of $175,267,492 and a market cap of approximately $98.9 million, ranking #366 by market capitalization. The recent decline in WCT’s price follows a series of significant events, including the expansion to the Solana blockchain with a 5 million token airdrop, a large transfer of 2.5 million WCT to Binance from a project address, and the announcement of upcoming governance and incentive programs by the WalletConnect Foundation. These developments, while expanding WCT’s ecosystem and utility, have contributed to increased trading activity and short-term price volatility, likely due to heightened token supply from airdrops and large transfers, as well as market reactions to new governance initiatives.