What is Wrapped MistCoin (WMC) Crypto Coin? History, Value, and Why It Matters

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WMC is the world's first ERC-20 token on Ethereum

$5.50 per WMC

Daily Volume: $16,600 (Uniswap v2 + v3)

Fixed Supply: 1,000,000 tokens

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Wrapped MistCoin (WMC) isn’t just another crypto token. It’s a digital relic - the first ever ERC-20 token ever created on Ethereum. If you’ve ever used a token on Uniswap, bought an NFT, or traded any coin built on Ethereum, you’re using technology that started with WMC. This isn’t about speculation. It’s about history.

The Origin: MistCoin Before It Was a Standard

In November 2015, before the ERC-20 standard even had a name, MistCoin (MC) was created. Two Ethereum Foundation developers - Fabian Vogelsteller and Alex Van de Sande - built it as part of the Mist Wallet project. It wasn’t meant to be a currency. It was a test. A proof of concept. They wanted to see if users could create their own tokens on Ethereum, not just send ETH back and forth.

And it worked. Sixteen days later, the ERC-20 standard was officially published. MistCoin became the blueprint. Every single ERC-20 token since - from Chainlink to Uniswap’s own UNI - copied the same code structure MistCoin used. That’s why WMC isn’t just old. It’s the original.

What Is Wrapped MistCoin (WMC)?

Wrapped MistCoin is a modern version of the original MistCoin. The original contract still exists, but it doesn’t work well with today’s DeFi apps, wallets, or exchanges. So, someone created a wrapped version: WMC. It’s a 1:1 representation of MistCoin, locked in a smart contract called a DropBox. When you deposit 1 MC, you get 1 WMC. When you want your original back, you burn the WMC and get MC returned.

WMC has a fixed supply of 1,000,000 tokens. No more. No less. There are no taxes, no fees, no inflation. Just pure, unaltered supply - exactly like the original. It uses two decimal places, matching the early Ethereum token design. This simplicity is intentional. It’s not trying to be a new coin. It’s trying to preserve the past.

Where Can You Trade WMC?

You won’t find WMC on Coinbase, Binance, or Kraken. It’s only available on decentralized exchanges - specifically, Uniswap. There are two trading pairs: WMC/ETH on Uniswap v2 and WMC/ETH on Uniswap v3.

As of November 2025, WMC trades around $5.50 USD. Prices vary slightly between v2 and v3 due to liquidity differences. Uniswap v3 has higher volume - about $9,300 in 24 hours - while v2 handles just over $7,300. Total daily volume is under $17,000. That’s tiny compared to major coins, but for a 10-year-old token with no marketing, it’s impressive.

Liquidity is shallow. A $10,000 buy order could move the price 10% or more. That’s why you won’t see big institutional players here. This isn’t a trading asset. It’s a collector’s item.

A collector gazing reverently at holographic WMC tokens in a room filled with vintage crypto artifacts.

Why Does WMC Have Value?

It doesn’t have utility like a payment coin. It doesn’t have staking, governance, or yield. Its value comes from one thing: history.

Think of it like owning the first iPhone prototype. Or the first printed book. Or the first Bitcoin block. These things aren’t useful in the modern sense. But they’re irreplaceable. WMC is the first programmable token on Ethereum. Without it, there’s no ERC-20. Without ERC-20, there’s no DeFi, no NFTs, no tokenized assets.

Its scarcity helps too. Only 1 million exist. And not all are in circulation. Some are locked in early wallets. Some are held by collectors. The fact that it’s still tradable - and still has a price - proves demand from those who understand its role in blockchain evolution.

WMC in the Bigger Picture

WMC isn’t alone. Other early Ethereum artifacts have been wrapped too: CryptoPunks, CryptoKitties, Etheria Tiles. These weren’t designed as tokens. But because they exist on Ethereum, people wrapped them to trade them on modern DEXs. WMC is different. It was designed as a token from day one. It’s the root.

Compare it to Bitcoin’s genesis block. You can’t spend it. You can’t move it. But it’s still valuable. WMC is the same. It’s not meant to be used. It’s meant to be remembered.

Who Holds WMC and Why?

The holders are mostly three types:

Blockchain historians - people who track Ethereum’s development and collect early contracts.
DeFi purists - developers who appreciate clean, minimal code and want to own the origin of the standard they build on.
Digital collectors - those who treat crypto like art or vintage tech, valuing rarity over function.

There are no big funds or hedge funds holding WMC. No influencers pushing it. No whitepapers promising future features. That’s the point. It’s not trying to grow. It’s trying to survive.

A glowing bridge of blockchain code connecting early Ethereum to modern DeFi, with WMC as the connecting thread.

Can You Wrap and Unwrap WMC Yourself?

Yes. The wrapping mechanism is open. You can send MistCoin (MC) to the DropBox contract at 0x7fd4d7737597e7b4ee22acbf8d94362343ae0a79 and receive WMC. Or send WMC back to get MC. The process is trustless, transparent, and free. No fees. No intermediaries. Just code.

But here’s the catch: you need the original MistCoin first. And finding MC is hard. Most of it is locked in early wallets. You can’t buy it on any exchange. You’d have to find someone who still holds it and trade directly. That’s why WMC is the more accessible version - it’s the only one you can actually trade today.

Is WMC a Good Investment?

If you’re looking for returns, no. WMC isn’t a growth asset. It doesn’t have a roadmap. No team is building new features. Its price moves slowly, and liquidity is low. A 10% daily swing is a big deal here.

But if you’re looking for a piece of blockchain history - something tangible that connects you to the birth of the token economy - then yes. Owning WMC is like owning a signed copy of the first Ethereum whitepaper. It’s not going to make you rich. But if Ethereum survives another decade, you’ll know you held one of its earliest building blocks.

What’s Next for WMC?

Nothing, really. That’s the point.

There are no upgrades planned. No partnerships. No marketing campaigns. The team behind it disbanded years ago. The project is now maintained by the community - not through code, but through preservation. As long as Ethereum exists, and as long as people care about where it came from, WMC will keep trading on Uniswap.

Its future isn’t about price. It’s about memory.

14 Comments

Kandice Dondona
November 14, 2025 AT 23:37

This is so cool 😍 I never realized how much of crypto’s foundation is built on this little token. It’s like holding a piece of the first spark that lit the whole fire. 🌟
Drew Monrad
November 15, 2025 AT 14:14

Oh please. It’s just a ghost contract with a price tag because people are nostalgic for the early days of crypto. If this were real value, it’d be trading at $500, not $5.50. Everyone’s romanticizing dust.
Anthony Forsythe
November 16, 2025 AT 04:43

You know what’s truly profound? That this token exists not because it was designed to make money, but because someone had the audacity to ask: 'What if we could make anything on Ethereum?' That’s not engineering. That’s poetry. Every DeFi protocol, every NFT marketplace, every yield farm - they’re all echoes of two devs tinkering in a basement in 2015. WMC isn’t a currency. It’s the first line of a new kind of literature - written in Solidity, published on a blockchain, and now preserved by people who still believe in the soul of open source. We don’t trade WMC. We honor it. And yes, the liquidity is thin. That’s the point. It’s not for the masses. It’s for the ones who still remember what crypto was supposed to be before the influencers and the ICOs and the fucking memes.
Becky Shea Cafouros
November 17, 2025 AT 07:04

I mean… it’s interesting? But honestly, why does this matter? It’s just a token. I’ve got better things to do than dig through blockchain archaeology.
Cody Leach
November 18, 2025 AT 19:32

I respect this. It’s rare to see something so pure in crypto. No hype, no team, no roadmap - just history. I bought a little WMC just to say I have it. Not to sell. Just to keep.
Mandy Hunt
November 20, 2025 AT 00:34

This is all a setup for the next rug pull. The original MC was never meant to be wrapped. Someone created WMC to make it look like it’s valuable. They’re hiding the real supply. The blockchain is a lie. The whole thing is a controlled experiment by the fed to test how gullible people are. Look at the liquidity - it’s too perfect. Someone’s manipulating it. I’ve seen this before.
anthony silva
November 21, 2025 AT 17:44

So you’re telling me a 10-year-old token with zero utility is worth $5.50 because… it was first? Cool. I’ll take my $5.50 and buy a coffee. At least that one does something.
Sara Lindsey
November 22, 2025 AT 07:44

YESSSS this is why I love crypto!!! Not the pumps not the memes but the stories!!! This is the real stuff!!! The OGs building the future without knowing it!!! WMC is the first spark!!! KEEP IT ALIVE!!!
alex piner
November 22, 2025 AT 19:34

this is so heartwarming honestly. i never thought i'd care about a token from 2015 but reading this made me feel something. like we're all part of something bigger than just trading. thanks for sharing this.
Gavin Jones
November 24, 2025 AT 06:56

I find this deeply moving. The notion that a piece of code, created with no expectation of financial gain, has become the foundational pillar of an entire economic paradigm - it speaks to the nobility of open collaboration. One cannot help but feel a sense of reverence for the pioneers who built in the shadows, unaware that their experiments would echo across decades. WMC is not merely a token. It is a monument.
Liz Watson
November 25, 2025 AT 22:18

Oh wow, another crypto relic being sold as ‘historical significance.’ Let me guess - next you’ll tell me the first Bitcoin block is a ‘collectible’ because Satoshi didn’t move it? Please. This is just FOMO dressed up as philosophy. If it’s not useful, it’s not valuable. And if you’re buying this to feel smart, you’re already the mark.
Rachel Anderson
November 26, 2025 AT 17:59

You call this history? This is just a museum exhibit with a ticker symbol. Real innovation doesn’t sit still. Real innovation evolves. WMC is a fossil. And fossils don’t pay dividends. They just collect dust - and overpriced gas fees.
Hamish Britton
November 28, 2025 AT 02:46

I like this. Not because I think it’ll go up, but because it reminds me why I got into crypto in the first place - not for money, but for the idea. That you could build something new, from nothing, and share it with the world. WMC is quiet. But it’s honest.
Kevin Hayes
November 29, 2025 AT 15:00

The philosophical weight of WMC cannot be overstated. It represents the moment abstraction became programmable - when value ceased to be tied to physical form and became a function of consensus, code, and trust. In this context, WMC is not merely the first ERC-20 token. It is the first instance of a digital artifact achieving ontological permanence outside human institutions. The fact that it persists, unchanged, unoptimized, unmonetized, is a quiet rebellion against the relentless commodification of everything. To hold WMC is to hold a mirror to the soul of decentralized systems: not for utility, but for truth.