WalletConnect Token (WCT) has emerged as a notable player in the crypto market. As of May 30, 2025, its market value stood at 2.49 billion dollars according to Coingecko, ranking among the top trend coins during that period.
WCT is deeply rooted in the Optimism OP main - net. It achieves encrypted transmission for cross - chain communication through a relay server. Its unique "connection as a service" model adopts a commercial path that charges based on monthly active users (MAU). This approach transforms the previously free infrastructure services into a token - based economic system. However, there are some concerning aspects. Data shows that WalletConnect has an annual income of only 200,000 dollars, with a price - to - sales ratio (PS) of 60 times, far exceeding the valuation levels of competitors like MetaMask.
The token distribution structure of WCT (with a total supply of 1 billion tokens) has characteristics typical 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%. While this design ensures community governance rights, it also brings multiple potential problems to the market. The initial circulation is 18.62% (186.2 million tokens), of which 44% comes from Binance Launchpool mining releases, and early institutional holdings from Coinbase and others account for 32%. This has led to a concentrated selling pressure on the first day of trading. Compared with projects in the same track such as RedStone (28% circulation) and Berachain (21.5%), the seemingly lower circulation rate of WCT has actually become a factor suppressing its price. Private - equity investors with a cost price of 0.1 - 0.2 dollars tend to sell when they have a 2 - fold floating profit.
Q: What is the technical basis of WCT? A: WCT is based on the Optimism OP main - net and uses relay servers for cross - chain encrypted communication.
Q: Why is the price - to - sales ratio of WCT a concern? A: Its price - to - sales ratio is 60 times, much higher than competitors like MetaMask, considering its relatively low annual income of only 200,000 dollars.
Q: What are the potential problems with WCT's token distribution? A: The concentrated selling pressure on the first day due to high institutional and mining - released circulation, and the low - cost private - equity investors' tendency to sell can suppress the price.
CoinMarketCap ranked the virtual currency exchanges based on factors such as network traffic, average liquidity, trading volume, and exchange trading volume. The data was updated on July 22, 2025. Here are the top 5 exchanges in the ranking:
| Rank | Exchange | Trading Volume (24h) | Average Liquidity | Weekly Visits | Market Quantity | Currency Types |
|---|---|---|---|---|---|---|
| 1 | Binance | ¥235,871,801,117 | 905 | 9437627 | 2014 | 528 |
| 2 | Bybit | ¥43,912,372,223 | 709 | 3495302 | 1243 | 730 |
| 3 | Coinbase Exchange | ¥35,313,665,781 | 764 | 32313 | 442 | 302 |
| 4 | Upbit | ¥45,553,973,345 | 576 | 1343942 | 531 | 258 |
| 5 | OKX | ¥39,486,584,458 | 762 | 5208404 | 1028 | 342 |
Q: How are these exchanges ranked? A: CoinMarketCap ranks them based on network traffic, average liquidity, trading volume, and exchange trading volume.
Q: What does the trading volume (24h) represent? A: It shows the total value of trades that occurred on the exchange within 24 hours.
Q: Why is average liquidity important? A: Higher average liquidity means that it is easier to buy and sell assets on the exchange without significantly affecting the price.
In the crypto market, even though small - cap tokens are attracting a lot of attention, established giants like Ethereum (ETH) and Bitcoin (BTC) remain irreplaceable core components. As shown in the Coingecko report on the top 20 trend coins from May 24 to 30, 2025, Bitcoin had a market value of 2.1 trillion dollars, and Ethereum's influence is also widespread.
The emergence of WCT and the ranking of virtual currency exchanges are all part of the dynamic and evolving blockchain ecosystem. The blockchain ecosystem is a complex network that includes various cryptocurrencies, tokens, exchanges, and underlying technical protocols. WCT, with its unique technical architecture and token economic design, is trying to find its place in this ecosystem. And the exchanges play a crucial role in facilitating the trading and circulation of these digital assets, which in turn affects the overall development and trend of the crypto market.
WalletConnect Token Coin (WCT) presents both opportunities and challenges in the crypto market. Its innovative technology and business model are worthy of attention, but the high valuation and potential market risks cannot be ignored. Meanwhile, the ranking of virtual currency exchanges provides valuable information for investors to choose a reliable trading platform. As the crypto market and blockchain ecosystem continue to develop, we need to closely monitor these trends to make more informed investment decisions.