WalletConnect’s Token WCT Soars High
In an astounding turn of events, the price of WalletConnect’s WCT token recently soared over 27% within a span of 24 hours. This surge followed a number of high-profile listings on some of the world’s most eminent exchanges.
Impressive Figures for WalletConnect
WalletConnect with its token WCT has seen a considerable upturn, currently trading at $0.40. What garnered the attention of many was its 24-hour trading volume which exceeded $910 million – a striking upswing of 1700% over the same period. Having been launched on April 15, the project has quickly attracted noticeable attention by securing listings on major exchanges, including Binance, Crypto.com, Upbit, Kraken, MEXC, Gate.io, KuCoin, OKX, Bybit, and Bithumb.
WCT Token’s Debut
The launch of the WCT token on exchanges marks a significant milestone for the project. An interesting fact is that the debut comes seven years after the project was launched in 2018. The WCT token epitomizes a crucial stepping stone in the WalletConnect Network’s decentralization roadmap. It is set to be the main driver behind WalletConnect Network’s economic and governance framework.
Understanding WalletConnect
So, what is WalletConnect? It’s a communications protocol for Web3 that enables safe and secure connections between cryptocurrency wallets and decentralized applications (dApps). It offers users the flexibility to link their wallets to dApps either through a QR code or deep links. Once connected, users can approve transactions or perform actions directly through their wallets via prompts from dApps.
WCT’s Supply and Distribution
WCT boasts a fixed supply of 1 billion tokens. These tokens have been allocated mindfully with 27% going to the WalletConnect Foundation for ecosystem development. Another 18.5% is allocated each to the team and airdrops, with 17.5% earmarked for staking and performance rewards. Early backers get 11.5% of the distribution, and the remaining 7% is allotted for core development.
The token graphically represented paints an impressively high trend for WCT amidst its listing across multiple platforms.
WCT Journey from 2020 to 2022
Initially launched in the latter half of last year, WCT tokens were non-transferable. Despite this, the holders could participate in governance and staking. The momentous day of April 15 saw transferability enabled at the official launch on spot markets. This monumental occasion was commemorated with the release of ‘The Creation of WCT NFT’.
In conclusion, WalletConnect’s WCT token has been making waves in the crypto market with its impressive rise and listings across premier exchanges. Its journey from a non-transferable token to one that’s caught the attention of the crypto world has been nothing short of remarkable. As of now, it continues to maintain its uptrend with prospective developments and achievements in the pipeline.
