TWT, Trust Wallet’s native utility and governance token, has surged a staggering 22% over the past week. This increase has pushed TWT into the spotlight, allowing it to significantly outperform the broader altcoin market. Here are the details…
Altcoin experienced an increase
At the time of this writing, TWT is trading at $0.946, a significant increase from its $0.773 value just a week ago. This increase took the 89th-ranked cryptocurrency, which is also the token of the popular mobile wallet application Trust Wallet, to new highs. Moreover, TWT has made a significant gain of 5% in the last 24 hours alone. What sets TWT’s recent performance apart is that it occurred during a period when the overall cryptocurrency market cap was experiencing a relatively modest increase of less than 0.5%, according to data from CoinGecko.
The new #TrustWalletExtension update is out in the Chrome Store! (V 1.9.1): https://t.co/ffuwQXlqOp
Enjoy native #EVM swaps, #crypto purchases, Ledger hardware support & more!
Plus, you can now choose skippable backup to jump right in. Here’s how easy it is to get started👇 pic.twitter.com/7WlFi13Esw
— Trust Wallet (@TrustWallet) October 3, 2023
One of the factors that contributed to this increase in the value of TWT was the recent update by Trust Wallet. The wallet’s browser extension now supports Ethereum Virtual Machine (EVM) exchanges, providing users with enhanced functionality and flexibility. Additionally, Trust Wallet teased the community with a mysterious announcement “coming soon.” Although the details have not been revealed, the anticipation in the crypto space is evident and many are eagerly waiting for the announcement.
Update detail
Known for its multi-chain and self-custody features, Trust Wallet has a user base of more than 60 million people. In July, the project rolled out an upgraded security scanning feature that assigns a risk level to each transaction and immediately alerts users to potential threats. This innovation has proven to be extremely effective, preventing over $17.5 million of user funds from falling into the hands of fraudsters since its launch earlier this summer.
It’s worth noting that despite TWT’s notable gains this week, the token still remains more than 65 percent below its all-time high of $2.72, the record it set in December of the previous year. This disparity underscores both the potential for further growth and the inherent volatility of the cryptocurrency market. TWT’s impressive performance over the past week is a testament to Trust Wallet’s commitment to innovation and security and will undoubtedly be closely watched by crypto enthusiasts around the world awaiting developments and announcements from this dynamic project.
TWT and Binance partnership
Founded in 2017, Trust Wallet has emerged as a mobile cryptocurrency wallet. Its appeal lies in its comprehensive functionality, allowing users to access a wide range of Blockchains, cryptoassets and decentralized applications (DApps). This user-friendly wallet has become the choice for crypto enthusiasts looking for a secure and accessible platform to manage their crypto assets. At that time, Trust Wallet also introduced its own governance token, TWT, in addition to its versatile wallet services.
This altcoin empowers its holders by allowing them to participate in important governance decisions and gives the community a say in the future development of the platform. Trust Wallet has become the official decentralized wallet of Binance, one of the world’s leading cryptocurrency exchanges. This partnership highlights the reliability and security of Trust Wallet, making it a preferred choice for users looking for a safe and secure option to manage their crypto assets while actively participating in the management of this innovative platform.
