WKT carries geometry only, with no names or properties. GeoJSON is plain JSON that web maps and GIS software read directly. WKT is at home in writing a single geometry in a database or script; GeoJSON is the usual choice for points, lines and areas on the web.
Every format is read into plain GeoJSON features and written out from there, so coordinates, names and properties carry over wherever the target has a place for them. Each geometry in the file becomes one feature without properties; WKT in a coordinate system other than latitude and longitude is refused. Coordinates are written longitude first, then latitude, as GeoJSON requires.