• #wct

  • WCT is the native token of the WalletConnect protocol. WalletConnect is a commonly used interoperability protocol in the cryptocurrency field, connecting over 275 million times since its inception in 2018, covering more than 600 wallets and over 61,000 applications. For the WCT token, it can be viewed from the following aspects:

    • Advantages:

    ◦ Extensive application foundation: As a mainstream wallet connection protocol in the Web3 world, it supports over 600 wallets and more than 60,000 decentralized applications, with a large number of cumulative connections, a huge user base, and a high market penetration rate, laying a certain foundation for token value.

    ◦ Innovative billing model: Achieved cross-chain encrypted communication transmission based on the Optimism public chain, adopting a 'connection as a service' billing model, charging based on monthly active users (MAU). The more users served, the stronger the demand for WCT tokens may be, opening up a new direction for profitability in Web3 service protocols.

    • Risks:

    ◦ Circulation and selling pressure issues: The initial circulation rate of WCT is 18.62%, part of which comes from mining releases in Binance Launchpool, and the proportion of early institutional holdings is also relatively high, leading to concentrated selling pressure on the first day of listing. Private investors have a certain space for floating profits, creating a selling inertia that puts pressure on the price.

    ◦ Insufficient value capture scenarios: Although there are four main functions of governance, staking, fees, and rewards, the critical fee payment scenarios were not implemented in the initial phase, and the tokens in the reward pool also need to be gradually released. The 'pre-release tokens followed by construction' model makes the tokens lack value capture scenarios in the short term, facing doubts about being 'air tokens'.

    ◦ Market volatility impact: The overall cryptocurrency market trend has a significant impact on WCT. In Q2 2025, it is in a bear market for altcoins, and investors have low tolerance for high FDV projects, resulting in poor performance on the first day of WCT's listing. Moreover, its price is highly correlated with Bitcoin's trend; significant fluctuations in Bitcoin's price will affect WCT's price.

    • Development prospects: If WCT can achieve a revenue share of over 30% in fees, positive real yield from staking, and breakthroughs in integration with Web2 giants in the second half of 2025, its valuation system may be restructured, and the price is expected to rise significantly. However, at present, WCT faces the challenge of converting technical advantages into economic value. Whether it can evolve from a 'connection tool' to a 'value gateway' is the key to its future development.

    Overall, the WalletConnect protocol that WCT belongs to has strong technical strength and wide application, but the WCT token currently faces some issues related to its economic model and market environment.