@@ -115,28 +115,27 @@ const TokenList = (props: Props) => {
115115
116116 // Normal state - show the token list
117117 return 'ready' ;
118- } , [
119- props . isSource ,
120- props . wallet ?. address ,
121- props . isConnectingWallet ,
122- props . isFetching ,
123- sortedTokens . length ,
124- ] ) ;
118+ } , [ props . isFetching , sortedTokens . length ] ) ;
125119
126120 const shouldShowLoadingState = listState === 'loading' ;
127121 const shouldShowEmptyMessage = listState === 'empty' ;
128122
129123 // Build sectioned list for source picker when not searching
130124 const isGroupingEnabled = props . isSource && ! props . searchQuery ;
125+ const isWalletConnected = Boolean ( props . wallet ?. address ) ;
131126
132127 const { itemsForRender, ownedCount } = useMemo ( ( ) => {
133128 if ( ! isGroupingEnabled ) {
134129 return { itemsForRender : sortedTokens , ownedCount : 0 } ;
135130 }
136131
137132 const hasPositiveBalance = ( token : Token ) => {
133+ if ( ! isWalletConnected ) {
134+ return false ;
135+ }
136+
138137 const bal = props . balances ?. [ token . key ] ?. balance ;
139- return ! ! ( bal && sdkAmount . units ( bal ) > 0n ) ;
138+ return Boolean ( bal && sdkAmount . units ( bal ) > 0n ) ;
140139 } ;
141140
142141 const nativeToken = sortedTokens . find ( ( token ) => token . isNativeGasToken ) ;
@@ -154,7 +153,7 @@ const TokenList = (props: Props) => {
154153 const itemsForRender = [ ...ownedTokens , ...nativePart , ...rest ] ;
155154
156155 return { itemsForRender, ownedCount : ownedTokens . length } ;
157- } , [ isGroupingEnabled , props . balances , sortedTokens ] ) ;
156+ } , [ isGroupingEnabled , isWalletConnected , props . balances , sortedTokens ] ) ;
158157
159158 const searchList = (
160159 < SearchableList < Token >
@@ -185,7 +184,9 @@ const TokenList = (props: Props) => {
185184 ? getUSDFormat ( calculateUSDPriceRaw ( tokenPrice , balance , token ) )
186185 : null ;
187186
188- const isRestSection = isGroupingEnabled && index >= ownedCount ;
187+ // Do not dim when no wallet is connected
188+ const isRestSection =
189+ isGroupingEnabled && isWalletConnected && index >= ownedCount ;
189190
190191 return (
191192 < Fragment key = { token . key } >
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