WalletConnect Token Expands to Solana with Airdrop Initiative
The crypto landscape witnessed a significant development as WalletConnect Token (WCT) expanded its presence to the Solana blockchain. On May 23, 2025, the WalletConnect Foundation announced a strategic move to airdrop 5 million WCT tokens to active Solana users. This initiative is part of a broader plan to establish WCT as a multichain token, thereby enhancing its accessibility and liquidity across various blockchain ecosystems.
The airdrop, facilitated through partnerships with Solana wallet providers such as Phantom, Jupiter, Backpack, and Solflare, aims to integrate WalletConnect more deeply into the Solana ecosystem. This integration is expected to attract new users and applications, leveraging Solana’s high-performance capabilities. The WCT token, which currently powers staking and governance within the WalletConnect network, will also be utilized for transaction fees and rewards in the future.
As of the latest data, approximately 145,000 individuals hold WCT, a number anticipated to rise following the expansion to Solana. The move marks the beginning of WalletConnect’s multichain journey, with further integrations reportedly in the pipeline.
Financial Overview of WalletConnect Token
As of May 21, 2025, the close price of WCT stood at $0.624093. The token reached its 52-week high of $0.748898 on May 19, 2025, and its 52-week low of $0.284623 on April 15, 2025. The market capitalization of WCT is currently valued at approximately $111,237,295.44.
FIFA’s Blockchain Ventures with Avalanche
In parallel developments, FIFA has announced a collaboration with Avalanche to develop a dedicated blockchain platform. This partnership aims to support FIFA’s digital infrastructure, starting with the launch of the FIFA Blockchain. The network will be built on Avalanche’s architecture, focusing on scalability to cater to FIFA’s extensive global fanbase.
This initiative follows FIFA’s decision to shift from Algorand to Avalanche, emphasizing the latter’s robust infrastructure for handling non-fungible tokens (NFTs) and digital fan engagement. The dedicated blockchain is expected to enhance FIFA’s Web3 strategy, providing a scalable solution for its digital products and fan interactions.
These developments highlight the growing intersection of blockchain technology with traditional industries, showcasing the potential for innovative applications in digital engagement and governance.