
WalletConnect’s native token, WCT, has surged over 27% in the past 24 hours, following a wave of high-profile listings on some of the world’s largest cryptocurrency exchanges. Now trading at $0.40, WCT has also seen its 24-hour trading volume skyrocket to $910 million, marking a 1,700% surge and placing the token in the spotlight just days after its official launch.
The rally was fueled by WCT’s debut on multiple Tier-1 exchanges, including Binance, Crypto.com, Kraken, KuCoin, Upbit, OKX, Bybit, Gate.io, MEXC, and Bithumb. These listings came shortly after WalletConnect enabled transferability for the token on April 15, officially making it tradable on spot markets.
“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,” the WalletConnect team told The Block.
WCT: Powering Governance and Incentives
Launched as a non-transferable token in September 2024, WCT was initially used for governance and staking within the WalletConnect Network. With the launch of transferability, WCT has transitioned into a fully liquid asset that underpins the protocol’s economic model and decentralization goals.
WalletConnect, founded in 2018, is a leading Web3 communications protocol that allows users to securely connect their crypto wallets with decentralized applications (dApps) via QR codes or deep links. It plays a foundational role in the Web3 ecosystem, particularly in DeFi and NFT infrastructure.
The token has a fixed total supply of 1 billion, with a well-structured allocation:
- 27% to the WalletConnect Foundation
- 18.5% to the team
- 18.5% to airdrops
- 17.5% for staking and performance rewards
- 11.5% to early backers
- 7% for core protocol development
The Creation of WCT” NFT Celebrates Token Launch
To commemorate the launch of WCT’s transferability, WalletConnect released an NFT titled “The Creation of WCT” on the Zora platform. The collectible honors the project’s long-term evolution and marks a key milestone in its decentralization journey.
“To celebrate WCT transferability on April 15, 2025 – you can now own a piece of WalletConnect history,” the project posted on X (formerly Twitter).
Outlook: WCT’s Role in the Web3 Future
The explosive rise of WCT highlights strong market interest in utility-driven tokens that support real-world infrastructure in the crypto space. As WalletConnect continues to scale and deepen its protocol offerings, WCT is expected to play a critical role in staking, governance, and incentive distribution, aligning with the project’s vision of a decentralized and user-owned communication layer for Web3.
With robust exchange support and a clear utility model, WCT is well-positioned to cement its role in the evolving decentralized ecosystem.