Recently, WalletConnect's token WCT has attracted market attention. According to on-chain data analysis, several institutional investors have significantly increased their holdings of WCT over the past three months.

Among them, the well-known quantitative trading firm Jump Trading purchased 2.3 million WCT through its market maker address, demonstrating confidence in the project. Meanwhile, the renowned cryptocurrency exchange Coinbase has also added custody services for WCT, with the quantity of WCT under custody increasing by 40%, reflecting the rising demand for WCT from institutional clients.

What is even more striking is that an unnamed Asian fund reportedly purchased 5 million WCT through over-the-counter trading (OTC). Such large-scale over-the-counter transactions are typically viewed as part of a long-term investment strategy, suggesting that the fund may be optimistic about the long-term development prospects of WCT.

The active entry of institutional investors is often interpreted by the market as a positive signal, which may indicate that the current market value of WCT is undervalued. However, this behavior also raises speculation in the market: are these large funds trying to boost the market, or are they quietly accumulating positions while prices are low?

Regardless, the fact that WCT has recently gained favor from institutions has sparked widespread discussion within the cryptocurrency community. Investors are closely monitoring how this trend may affect WCT's future price movements. As more details emerge, WCT's market performance will become even more noteworthy.