The native crypto token for WalletConnect, WCT, saw its value climb sharply by over 27% within a single 24-hour period, fueled by a flurry of listings on prominent digital asset exchanges.
WalletConnect (WCT) is currently changing hands at approximately $0.40, marking a gain of more than 27%. This price movement was accompanied by a dramatic spike in trading activity, with 24-hour volume surpassing $910 million – an increase of 1700%. This surge followed the token’s debut on spot markets on April 15 and subsequent listings by leading platforms including Binance, Crypto.com, Upbit, Kraken, MEXC, Gate.io, KuCoin, OKX, Bybit, and Bithumb.
The debut of the WCT token on these exchanges marks a significant step, occurring seven years after the project’s inception in 2018. According to statements provided to The Block, WalletConnect views “WCT marks a significant milestone in the WalletConnect Network’s decentralization roadmap and will be the driving force behind the economic and governance structure of the Network.” Such widespread exchange support often enhances a token’s visibility and liquidity.
WalletConnect functions as a key piece of Web3 infrastructure, a communications protocol facilitating secure links between cryptocurrency wallets and decentralized applications (dApps). It simplifies user interaction, allowing connections via QR codes or deep links, enabling dApps to request transaction approvals directly from a user’s wallet.
WCT operates with a total capped supply of 1 billion tokens. The distribution strategy allocates significant portions: 27% to the WalletConnect Foundation for ecosystem growth, 18.5% reserved for the team, another 18.5% for airdrops, 17.5% designated for staking and performance incentives, 11.5% for early project backers, and 7% directed towards core protocol development.
Source: WalletConnect blog
Although initially introduced in September of the previous year, WCT tokens were designed to be non-transferable at launch. Holders could still engage in governance activities and staking during this phase. Full transferability was activated on April 15, coinciding with the official spot market launch. This event was commemorated with the release of “The Creation of WCT” NFT on the Zora platform.
To celebrate WCT transferability on April 15, 2025 – you can now own a piece of WalletConnect history
“The Creation of WCT” NFT is now live on @zora 🙌 https://t.co/PLTHSvKU94 pic.twitter.com/ttLLBY28l3
— WalletConnect (@WalletConnect) April 16, 2025