WalletConnect Token Soars as Major Exchanges Embrace It
The price of WalletConnect’s token, WCT, has skyrocketed by over 27% in just 24 hours. This surge comes after several top exchanges listed the token. WCT is now valued at $0.40, with a trading volume of $910 million, a 1700% increase.
Launched on April 15,WalletConnect has gained traction with listings on major platforms like Binance,Crypto.com, and Upbit.These listings have fueled its popularity.The project, which began in 2018, has finally hit the spot markets. It’s a important milestone for the Web3 communications protocol.
WalletConnect is a bridge between crypto wallets and decentralized applications (dApps).
WCT has a total supply of 1 billion tokens.The distribution includes 27% for the WalletConnect Foundation, 18.5% each for the team and airdrops, 17.5% for staking rewards, 11.5% for early backers, and 7% for core development.
Initially, WCT tokens were non-transferable but allowed holders to participate in governance and staking. Transferability was enabled on April 15, coinciding with its spot market debut. This event was marked by the release of “The Creation of WCT” NFT.
For more details, visit the WalletConnect blog.
