@WalletConnect is a leader in the Web3 infrastructure field, founded in 2018, aiming to achieve secure connections between wallets and DApps through open protocols, regarded as the 'connecting hub' of the decentralized ecosystem. Its core technology supports end-to-end encrypted communication, allowing users to interact seamlessly across multiple chains such as Ethereum, Solana, and Polygon. To date, it has facilitated over 275 million on-chain connections, covering more than 45 million users, 600+ wallets, and over 67,000 projects. The WalletConnect Foundation promotes its decentralization, with node operators including Consensys, Ledger, and others, leading in both technology and ecology.

Funding Background:

WalletConnect has raised over $46 million across multiple funding rounds, demonstrating strong capital appeal. In February 2024, the WalletConnect Foundation raised $10 million through four rounds of oversubscribed sales, including $4 million each from CoinList and Binance Launchpool, $500,000 from Echo.xyz which sold out instantly, and $1.5 million in private placement. Previously, in 2022, it raised $11 million through platforms like The Memo, with investors including top institutions like 1kx and Union Square Ventures. These funds are used for protocol development, ecological expansion, and community governance, helping it move towards complete decentralization.

K-line Trend:

The WCT token was launched on September 28, 2024, with an initial price of about $0.19, soaring to a historical high of $4.46 on March 7, 2025, followed by fluctuations and corrections. As of June 31, 2025, the WCT price is approximately $0.33, with a 24-hour trading volume of about $41 million, slightly up by 8.93% from the previous day. The price has dropped 21.1% in the past week, indicating short-term pressure, with the RSI indicator close to 30, suggesting potential overselling. In the long term, WCT has increased over 45 times since its issuance compared to the initial price, with market sentiment leaning towards optimism.

Market Capitalization and Valuation:

The current circulating supply of WCT is 186.2 million, with a market capitalization of approximately $62 million, accounting for less than 0.01% of the crypto market, ranking around 448. The fully diluted valuation (FDV) is about $333 million, far below the historical high of $4.46 billion. Considering WalletConnect's wide application (over 15 million monthly active connections), multi-chain support, and the potential of the governance token, the current market cap may be undervalued. Compared to other Web3 infrastructure projects (like Chainlink), its market share is relatively low, but there is potential for growth as the ecosystem expands and tokens are unlocked. However, caution is needed regarding market volatility and competition risks.

#WalletConnect $WCT