Upbit Revises WCT Circulation Plan, Increasing Token Supply by 8.2M
- Circulation Plan Adjustment: Upbit announced an increase in WalletConnect (WCT) circulating supply from 351,144,932 WCT to 359,328,670 WCT for Q1, adding 8.2 million tokens, reflecting a dynamic response to market demand that could impact investor confidence and liquidity.
- Enhanced Transparency: This adjustment was made at the explicit request of the WalletConnect project team, indicating a coordinated strategy between Upbit and project developers, which enhances market trust and may encourage broader community participation.
- Market Impact Analysis: While the increased token supply could exert downward pressure on price, the transparent and pre-announced nature of this adjustment may lead to a relatively mild market reaction, prompting investors to reassess the new circulation timeline.
- Governance Power Distribution: As the governance token for the WalletConnect protocol, changes in WCT supply will directly affect governance power distribution, potentially fostering greater community engagement and increasing project development funding, thereby driving long-term success for the protocol.
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Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000702 | 0.00176 | 0.00258 | 0.00364 | 0.00447 | 0.00552 | 0.00635 |
| Fibonacci | 0.00176 | 0.00247 | 0.00292 | 0.00364 | 0.00436 | 0.0048 | 0.00552 |
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