Unveiling WalletConnect Token (WCT): What It Is and Top 10 Virtual Currencies Ranking
Unveiling WalletConnect Token (WCT): What It Is and Dogecoin price prediction 2040Top 10 Virtual Currencies Ranking
In the dynamic realm of cryptocurrency, WalletConnect Token (WCT) has emerged as a notable player, attracting the attention of investors and enthusiasts alike. This article aims to provide an in - depth understanding of WCT and also briefly touch upon the top 10 virtual currencies ranking.
What is WalletConnect Token (WCT)?
WalletConnect is a project that aims to revolutionize the way users interact with decentralized applications (dApps) by providing seamless wallet connectivity. Its service covers all mainstream blockchain platforms, striving to offer users the best on - chain experience. The core technology of WalletConnect consists of three parts: a network of distributed node operators for efficient message delivery, a developer - friendly SDK toolkit, and a unified standard to ensure compatibility among all applications, wallets, and blockchains.
WCT is the native token of the WalletConnect protocol. Technologically, it is based on the Optimism OP mainnet and uses a relay server to achieve encrypted cross - chain communication. The project has a unique "connection as a service" model, which follows a commercial path of charging based on monthly active users (MAU), transforming the previously free infrastructure service into a token - based economic system.
The total supply of WCT tokens is 1 billion. The token distribution structure shows typical characteristics of infrastructure projects. 27% is allocated to the foundation for ecosystem building, 18.5% is used for airdrop incentives, and the team and early supporters together hold 30%. However, this design has both positive and negative effects. On one hand, it ensures community governance rights, but on the other hand, it brings potential problems to the market.
Market Performance of WCT
According to monitoring data from Tengzhuanwang, on the first trading day in April 2025, WCT reached a maximum of $0.4113. As of recent data on July 26, 2025, it is quoted at $0.3447, with a quarterly increase of 72.35%. This explosive growth is attributed to the overall recovery of the Web3 ecosystem (during the same period, Ethereum's Gas fees decreased by 38%) and its nature as a governance token, which allows holders to participate in key decisions such as node permission opening.
However, there are also concerns. The initial circulating supply of WCT is 18.62% (186.2 million tokens). Among them, 44% comes from Binance Launchpool mining, and early institutional holdings such as Coinbase account for 32%. This led to a concentrated selling pressure on the first day. Compared with projects in the same track like RedStone (28% circulation) and Berachain (21.5%), WCT's seemingly lower circulation rate has actually become a factor suppressing the price. Private investors with a cost price of $0.1 - $0.2 tend to sell when they see a 2 - fold floating profit.
Another issue is the valuation. Currently, the price - earnings ratio (PE) of WCT is 42.6, which is about 25% higher than the average valuation level of similar projects. Also, data shows that WalletConnect's annual revenue is only $2 million, corresponding to a price - to - sales ratio (PS) of 60 times, far exceeding the valuation levels of competitors such as MetaMask.
Technical and Ecosystem Analysis of WCT
From a technical perspective, the WalletConnect protocol has formed a first - mover advantage in the field of connecting crypto wallets and dApps. According to a Bitget exchange research report, the average daily trading volume processed by the protocol in Q1 2025 increased by 217% year - on - year. The project's plan to optimize performance through the OP mainnet upgrade may increase the transactions per second (TPS) to over 1200, which is worthy of attention.
However, as a utility - type token, WCT faces the challenge of a single application scenario. Different from Bitcoin, which has a value - storage attribute, WCT needs to expand its application scenarios to enhance its long - term value.
Top 10 Virtual Currencies Ranking
While we focus on WCT, it's essential to have an overview of the top 10 virtual currencies in the market. The ranking of virtual currencies is usually determined by factors such as market capitalization, trading volume, technological innovation, and community support.
Bitcoin (BTC) has always been at the top of the ranking. It is the first and most well - known cryptocurrency, with a large market capitalization and high liquidity. Ethereum (ETH) is another significant player. It introduced smart contracts, which have spurred the development of countless dApps and the DeFi ecosystem.
Other cryptocurrencies in the top 10 often include stablecoins like Tether (USDT) and USD Coin (USDC), which are pegged to the US dollar and provide stability in the volatile crypto market. Binance Coin (BNB) is also a prominent one, as it is the native token of the Binance exchange and has multiple use cases within the Binance ecosystem.
The rankings can change over time due to market fluctuations, regulatory changes, and technological breakthroughs. For example, new projects may emerge with innovative technologies and gain popularity, pushing some existing cryptocurrencies down the ranking.
In conclusion, WalletConnect Token (WCT) has its unique technological advantages and market potential, but it also faces challenges in terms of token economics and application scenario expansion. When considering investing in WCT or any other virtual currency, investors should conduct thorough research (DYOR) and carefully assess the risks and rewards.
PUNT Coin Liquidation: What You Need to Know and Virtual Currency Ranking Insights
B Coin Set to Skyrocket: Is Puffverse Coin Headed for a Downturn?
