WalletConnect $WCT, Infrastructure Value Reset Period Recently, @WalletConnect has been gaining attention again due to the expansion of payment infrastructure and the acceleration of institutional onboarding. In particular, it has achieved simultaneous B2B and B2C expansion by providing direct incentives to network participants through the Base builder and staking reward programs, and supporting institutional on-chain entry with Sui DeFi integration. Additionally, with the partnership with DTCPay, it has entered the payment sector, marking a significant leap from on-chain wallets to real-world payment infrastructure. The results of this expansion are reflected in the numbers, as WalletConnect's annual network transaction volume (TNV) is on the verge of surpassing $400 billion, which is at the level of global fintech companies. Moreover, it is transitioning to a structural token model that is directly linked to network value with the introduction of a new fee model. Now, I believe WCT has entered a phase where it will be re-evaluated as an infrastructure asset reflecting actual transactions and fee flows, rather than just 'on-chain connectivity.' TNV of $400 billion and the introduction of fees. This combination may signal a performance-based value re-rating.