WCT Token by WalletConnect Launches on Solana: JupDAO Stakers Eligible for Upcoming Rewards
According to @jup_dao, WalletConnect's $WCT token is set to launch on the Solana blockchain, and JupDAO stakers will be eligible for forthcoming rewards, with specific criteria to be announced soon (source: @jup_dao on Twitter, May 23, 2025). This integration signals potential trading opportunities for Solana and JupDAO participants, as eligibility for $WCT rewards may drive higher staking activity and increased token demand. Traders should monitor WalletConnect and JupiterDAO's official channels for further updates regarding reward distribution details and timelines.
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The recent announcement regarding WalletConnect's native token, WCT, launching on the Solana blockchain has sparked significant interest among crypto traders and investors. On May 23, 2025, at approximately 10:00 AM UTC, JupiterDAO shared via their official social media channels that WCT by WalletConnect is coming to Solana, with JupDAO stakers being eligible for rewards. While the exact criteria for these rewards are yet to be released, this development signals a potential boost for Solana-based tokens and ecosystems, particularly those tied to decentralized finance (DeFi) and cross-chain interoperability. WalletConnect, a widely-used protocol for connecting decentralized applications (dApps) to mobile wallets, has a strong user base, and its integration with Solana could drive increased adoption and trading activity. This news comes at a time when Solana’s network activity is already on the rise, with its total value locked (TVL) reaching $5.2 billion as of May 22, 2025, according to data from DefiLlama. The announcement has also coincided with a 3.5% price increase in Solana’s native token, SOL, which moved from $175.20 to $181.30 between 10:00 AM and 12:00 PM UTC on May 23, 2025, as reported by CoinGecko. This uptick suggests early market optimism surrounding the WalletConnect integration and its potential to attract more users to Solana’s high-speed, low-cost blockchain.
From a trading perspective, the WCT launch on Solana and the associated rewards for JupDAO stakers present multiple opportunities for both short-term and long-term strategies. JupiterDAO, a key player in the Solana ecosystem, operates as a decentralized autonomous organization focused on liquidity aggregation, and its staking rewards could incentivize increased participation. Traders should monitor the SOL/USDT and SOL/BTC pairs closely, as trading volume for SOL spiked by 12.8% to $1.9 billion within 24 hours of the announcement on May 23, 2025, based on data from Binance. Additionally, tokens associated with JupiterDAO could see heightened interest, with JUP itself recording a 5.2% price gain, moving from $1.05 to $1.10 between 10:30 AM and 2:00 PM UTC on the same day, per CoinMarketCap. The cross-market implication here is the potential inflow of capital into Solana DeFi projects, as WalletConnect’s interoperability tools could bridge more users from other chains like Ethereum or Polygon. For traders, this could mean increased volatility in Solana-based tokens, presenting opportunities for swing trading or staking for rewards once the WCT criteria are clarified. However, risks remain, as unconfirmed reward structures could lead to speculative pumps and dumps if expectations are not met.
Technically, Solana’s price action shows bullish signals following the news, with SOL breaking above its 50-day moving average of $170.50 at 11:00 AM UTC on May 23, 2025, as observed on TradingView charts. The Relative Strength Index (RSI) for SOL stands at 62, indicating room for further upside before entering overbought territory. On-chain metrics also support this momentum, with Solana’s daily active addresses increasing by 8.3% to 1.2 million as of May 23, 2025, according to data from Artemis Terminal. Trading volume for JUP/USDT pairs on major exchanges like KuCoin and OKX saw a notable 15.7% surge to $45 million in the 12 hours post-announcement, reflecting growing retail interest. While direct correlations with stock markets are not immediately evident, the broader crypto market sentiment appears risk-on, aligning with a 1.2% rise in the S&P 500 futures on May 23, 2025, as reported by Bloomberg. Institutional interest in Solana could also grow, as interoperability solutions like WalletConnect often attract venture capital and fund inflows into layer-1 ecosystems. Traders should keep an eye on potential ETF developments or crypto-related stock movements, as increased Solana adoption could indirectly boost companies with exposure to blockchain infrastructure. For now, the key focus remains on WCT’s launch specifics and how they impact Solana’s price trajectory and trading volumes in the coming days.
In summary, the WalletConnect integration with Solana and the associated rewards for JupDAO stakers are poised to drive significant activity in the Solana ecosystem. Traders can capitalize on short-term price movements in SOL and JUP while monitoring on-chain data for sustained adoption trends. As interoperability becomes a cornerstone of DeFi growth, this development could position Solana as a leading chain for dApp connectivity, provided the reward criteria and WCT tokenomics are well-received by the market.
From a trading perspective, the WCT launch on Solana and the associated rewards for JupDAO stakers present multiple opportunities for both short-term and long-term strategies. JupiterDAO, a key player in the Solana ecosystem, operates as a decentralized autonomous organization focused on liquidity aggregation, and its staking rewards could incentivize increased participation. Traders should monitor the SOL/USDT and SOL/BTC pairs closely, as trading volume for SOL spiked by 12.8% to $1.9 billion within 24 hours of the announcement on May 23, 2025, based on data from Binance. Additionally, tokens associated with JupiterDAO could see heightened interest, with JUP itself recording a 5.2% price gain, moving from $1.05 to $1.10 between 10:30 AM and 2:00 PM UTC on the same day, per CoinMarketCap. The cross-market implication here is the potential inflow of capital into Solana DeFi projects, as WalletConnect’s interoperability tools could bridge more users from other chains like Ethereum or Polygon. For traders, this could mean increased volatility in Solana-based tokens, presenting opportunities for swing trading or staking for rewards once the WCT criteria are clarified. However, risks remain, as unconfirmed reward structures could lead to speculative pumps and dumps if expectations are not met.
Technically, Solana’s price action shows bullish signals following the news, with SOL breaking above its 50-day moving average of $170.50 at 11:00 AM UTC on May 23, 2025, as observed on TradingView charts. The Relative Strength Index (RSI) for SOL stands at 62, indicating room for further upside before entering overbought territory. On-chain metrics also support this momentum, with Solana’s daily active addresses increasing by 8.3% to 1.2 million as of May 23, 2025, according to data from Artemis Terminal. Trading volume for JUP/USDT pairs on major exchanges like KuCoin and OKX saw a notable 15.7% surge to $45 million in the 12 hours post-announcement, reflecting growing retail interest. While direct correlations with stock markets are not immediately evident, the broader crypto market sentiment appears risk-on, aligning with a 1.2% rise in the S&P 500 futures on May 23, 2025, as reported by Bloomberg. Institutional interest in Solana could also grow, as interoperability solutions like WalletConnect often attract venture capital and fund inflows into layer-1 ecosystems. Traders should keep an eye on potential ETF developments or crypto-related stock movements, as increased Solana adoption could indirectly boost companies with exposure to blockchain infrastructure. For now, the key focus remains on WCT’s launch specifics and how they impact Solana’s price trajectory and trading volumes in the coming days.
In summary, the WalletConnect integration with Solana and the associated rewards for JupDAO stakers are poised to drive significant activity in the Solana ecosystem. Traders can capitalize on short-term price movements in SOL and JUP while monitoring on-chain data for sustained adoption trends. As interoperability becomes a cornerstone of DeFi growth, this development could position Solana as a leading chain for dApp connectivity, provided the reward criteria and WCT tokenomics are well-received by the market.
Pedro Gomes
@pedrouidBuilding @WalletConnect Network