In the present state of the cryptocurrency market downturn, Trust Wallet Token (TWT), a token created by Trust Wallet, has shown optimism, with an increase of over 97.33% in the past seven days.
Three days ago, the coin’s price reached a new All-Time High of $2.71. However, the token experienced a rise in value for a number of reasons this week, one of which is that there has been an increase in demand for wallet storage, which boosted Trust Wallet Token since FTX’s demise.
Data from CoinMarketCap shows that the token is currently trading at $2.22, a price that is 20.99% below its most recent high. The token has significantly increased by roughly 13% during the past 24 hours. Additionally, the 24 hours trading volume is up by around 10%.
Furthermore, there has been a consistent upward movement in the token’s worth. TWT’s tweet initially triggered the increase in price on November 11th, stating that they are processing almost eight million digital assets, including NFTs, in an effort to allay market anxiety.
Key Reason Driving Trust Wallet Token (TWT)
The price of Trust Wallet Token has increased significantly as a result of Binance CEO Changpeng Zhao’s support for Trust Wallet. According to the November 13th CZ’s tweet, “Self custody is a fundamental human right.”
Moreover, Self-custody Trust Wallet continues to gain momentum this is because of the newly designed browser extension launched on November 15th and partnerships with Coinbase Pay and Binance Pay, which makes it possible for traders looking for a secure place to store their digital assets.
The Trust Wallet Browser Extension, an innovative and secure multi-chain crypto wallet, empowers users to control their digital assets while exploring Web3 dApps fully.
However, Binance also announced the launch of Binance Pay’s Trust Wallet integration on November 16th. The company’s customers may now make straight withdrawals using their Trust Wallet without having to scan or input a wallet address. Additionally, Coinbase Pay will function with the same integration.
According to the statement:
New users who aren’t used to long crypto addresses, gas fees, and the hassle of ensuring that the right network is selected can find the transfer process intimidating.