On April 15, 2025, at 11:00 UTC, WalletConnect Token (WCT) will be listed simultaneously on top global cryptocurrency exchanges such as Binance, Bybit, OKX, Gate.io, KuCoin, and Crypto.com, marking a milestone event in the Web3 infrastructure sector. As a core protocol connecting decentralized applications (dApps), wallets, and blockchains, WalletConnect has become an indispensable pillar of Web3 with its seamless and secure on-chain user experience (UX) ecosystem. The listing of the WCT token not only injects new momentum into decentralized governance and community incentives but also ignites market enthusiasm due to the listing news from South Korea's largest exchange, Upbit, resulting in an exceptionally strong price performance.

WCT Price Surge and Market Frenzy

According to AiCoin data, stimulated by Upbit's announcement of WCT's listing, the price of WCT surged over 60% in the past 24 hours, breaking the $0.5 mark and reaching a high of $0.55, setting a new record since its listing. The WCT/USDT trading pair on Binance performed particularly well, with trading volume surging 40 times within ten minutes of the listing, and the total trading volume reaching $252 million in 24 hours, an increase of 895.1% compared to the previous day. CoinGecko data shows that WCT's current price fluctuates between $0.49 and $0.5, and although there was a 16.6%-20.75% pullback on the first day of listing, market enthusiasm remains high.

Since its establishment in 2018, the WalletConnect network has facilitated 275 million on-chain connections, serving 45 million active users, connecting 600 wallets and 40,000 dApp projects. Its open-source protocol supports multi-chain interoperability including Ethereum, Solana, and Cosmos, employing end-to-end encryption technology to ensure user privacy and data security. The total supply of WCT tokens is 1 billion, with an initial circulating supply of 186.2 million tokens (18.62%). Tokens for core development, team members, and early investors have a 4-year unlocking period, with the first year locked, to ensure ecological stability.

Dual Boost from Upbit Listing and Binance Promotions

As South Korea's largest cryptocurrency exchange, Upbit's decision to list WCT significantly enhances the token's regional influence. Upbit's Korean platform offers over 180 types of crypto assets and 300 trading pairs, attracting a large number of Asian investors with its high liquidity and strict security certifications (such as ISMS-P and ISO/IEC). The listing of WCT on Upbit further increases its market visibility, driving trading enthusiasm in the Asian market.

At the same time, Binance is distributing 40 million WCT (4% of total supply) to reward users through its Launchpool and has launched a new user promotion, offering 88 WCT rewards for users who deposit 100 USDT and complete the corresponding trading volume. In the first hour after the activity was announced, WCT trading volume surged by 15%, and the price rose by 3% to $0.395 (10:00 UTC). Binance supports trading pairs such as WCT/USDT, WCT/USDC, and WCT/BNB, with market-making support from GSR Markets and Flow Traders to ensure liquidity.

Ecological Value and Community Discussion

WCT plays a governance, staking, and incentive role within the WalletConnect ecosystem. Holders can vote on network upgrades and fee structures, while stakers can earn rewards and support network security, with 17.5% of tokens allocated to incentivize node operators and wallet providers. Initially, user connection fees are waived, and a charging model based on monthly active users (MAU) may be introduced in the future, paid by dApps to optimize user experience.

Risks and Outlook

Although WCT has achieved a price surge due to Upbit's listing and Binance promotions, the risk of high volatility cannot be ignored. The selling pressure on the first day of listing and market sentiment may lead to short-term pullbacks. The current market capitalization is approximately $98 million, leaving room to reach a fully diluted valuation of $382 million. In terms of competition, WCT needs to compete with wallet tokens like Coin98 (C98), and the maturity of its ecosystem needs further validation.

Looking ahead, WalletConnect plans to launch an on-chain governance mechanism in the second quarter of 2025 to enhance community control. Ongoing airdrop and reward programs are expected to drive the number of network connections to exceed 300 million. With the increasing adoption of Web3, WCT is expected to solidify its leading position as an on-chain UX infrastructure and become a key asset in the Web3 ecosystem.

This article represents the author's personal views and does not reflect the position or views of this platform. This article is for informational sharing only and does not constitute any investment advice to anyone.

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