Recently, the native token WCT of WalletConnect has experienced a roller coaster market performance in the cryptocurrency market. Over the past 30 days, the price trend of WCT has fluctuated greatly, attracting widespread attention from investors.

In the early stages, WCT experienced a significant increase of about 40% due to news of its integration with the Solana ecosystem. However, the good times were short-lived, as subsequent market adjustments led to a price drop of about 25%. Behind this sharp volatility, there are multiple influencing factors.

First, early investors who participated in staking began to gradually unlock and cash out, which caused some selling pressure in the short term. Secondly, the continuous development of the WCT ecosystem, especially the strategic partnership with the Phantom wallet, has brought new user groups to the project, but the overall market sentiment is still closely related to the trend of Bitcoin.

It is worth noting that the current circulation of WCT is relatively low, accounting for only 18.62% of the total supply. This characteristic makes the token price relatively sensitive to changes in supply and demand, and future token unlock events may have a significant impact on the price.

For short-term traders, paying attention to the support level around $1.2 may be an important technical indicator. Meanwhile, long-term investors may be more concerned with the development prospects and practical application progress of the WalletConnect ecosystem.

Currently, the price trend of WCT remains uncertain. Investors need to consider the project's fundamentals, market sentiment, and the overall direction of the cryptocurrency market when making decisions. At the same time, it is important to be aware of the potential risks brought by high volatility.

As decentralized wallets and cross-chain interoperability become increasingly important in the Web3 space, the development of the WalletConnect project is worth continuous attention. However, in investment decisions, prudently assessing the risk-reward ratio is always an indispensable part.