The cryptocurrency market has once again demonstrated its volatile nature, as the price of WalletConnect’s token (WCT) has surged over 27% in the past 24 hours. This remarkable jump can be attributed to a wave of high-profile exchange listings that have positioned WCT as a significant player in the DeFi space.
As of now, WCT is trading at $0.40, with an astonishing 24-hour trading volume exceeding $910 million, representing an increase of 1700% during this brief timeframe. Launched just a day prior on April 15, 2025, WalletConnect has wasted no time in making headlines through prompt listings on major exchanges such as Binance, Crypto.com, Upbit, Kraken, MEXC, Gate.io, KuCoin, OKX, Bybit, and Bithumb.
This token debut marks a significant milestone, as it comes seven years after the project’s original launch in 2018. According to WalletConnect, WCT represents a critical advancement in the WalletConnect Network’s decentralization roadmap and will play a crucial role in shaping the economic and governance structure of the entire Network.
WalletConnect is designed as a Web3 communications protocol that facilitates secure connections between crypto wallets and decentralized applications (dApps). Users can effortlessly link their wallets to dApps using QR codes or deep links, enabling seamless transaction approvals and actions directly through their wallets.
The total supply of WCT stands at a fixed 1 billion tokens. The allocation plan is strategic, with 27% of tokens reserved for the WalletConnect Foundation to foster ecosystem development, 18.5% allocated each to the team and airdrops, 17.5% slated for staking and performance rewards, 11.5% for early backers, and 7% aimed at core protocol development.
It’s worth noting that WCT tokens were initially non-transferable at their launch in September last year. However, on April 15, 2025, the transferability feature was activated, coinciding with the introduction of “The Creation of WCT” NFT, commemorating this momentous occasion in the project’s history. Now, users can celebrate by owning a piece of WalletConnect’s journey through this unique NFT.
In conclusion, the surge in WCT’s price reflects a growing confidence in the WalletConnect platform among investors and users alike. As it continues to gain traction in the market, industry observers will be keenly watching how WCT and WalletConnect develop further in the competitive landscape of the cryptocurrency ecosystem.
