Trust Wallet Token (TWT): Project Review, Recent Developments, Future Events, Community

Trust Wallet Token (TWT) logo on a pink background with a blue chart
  • Trust Wallet Token (TWT), the utility token of the multi-chain wallet, is one of the biggest beneficiaries of the self-custody campaign.
  • Trust Wallet has launched a new browser extension, giving users the ability to store, send, and receive crypto from all EVM and Solana chains.
  • Binance Pay and Coinbase Pay have also been integrated into Trust Wallet, giving users easy access to receive and transfer funds.
  • In the last seven days, the price of TWT has rallied by more than 105%, with its trade volume jumping from $19 million to over $607 million.

Project Review

Trust Wallet Token (TWT) is the utility native network token of Trust Wallet – the decentralized mobile hot wallet that facilitates the storage of cryptocurrencies and non-fungible tokens.

As the official crypto wallet of Binance, Trust Wallet currently supports 65 blockchains including Bitcoin, Ethereum, Tron, and Ripple, along with over 4.5 million crypto assets, and non-fungible tokens (NFTs) from top blockchains.

Trust Wallet Token, as a BEP-20 asset (built on the Binance Smart Chain), is a utility token designed to provide additional value to users of the Trust Wallet mobile app. TWT can be used for payment services and confers voting rights and governance over the development of the Trust Wallet ecosystem.

Social Media: Website | Twitter | GitHub | Telegram | Reddit | Facebook | Instagram

Recent Developments

The implosion of FTX raised the gravity of the “not your keys, not your coins” movement, pushing crypto investors to decentralized exchanges (DEX), with Trust Wallet being one of the biggest beneficiaries.

While leading the call for investors to take full control of their crypto, the Trust Wallet team has been building alongside to support the influx of new users into its decentralized ecosystem.

On Monday, November 14th, Trust Wallet announced the launch of a browser extension for Google Chrome and Opera. The extension lets users store, send, and receive crypto across all Ethereum Virtual Machine (EVM) chains and Solana.

Two days after the extension launched, the world’s biggest crypto exchange by trading volume, Binance, launched the Binance Pay Trust Wallet integration. The Trust Wallet team later announced that the same integration was later announced to work with Coinbase Pay.

The feature means that Binance users would no longer need to scan or input a wallet address as their Trust Wallets will be among the direct withdrawal options. In addition, there will be no additional cost above the blockchain gas fees for transactions.

Price Updates

Trust Wallet Token (TWT) is one of the biggest beneficiaries of the FTX implosion as the push for self-custody has drawn users to the platform. TWT has spiked, outperforming every other crypto as activity on the platform rises.

The influx of users is highlighted by the jump in transactions on Trust Wallet. According to data from CoinMarketCap, Trust Wallet recorded a 24-hour volume of $19.3 million on the 11th but rose as high as $607.4 million on the 13th of November.

In the predominant bearish market, TWT has gained 105% in the last seven days, setting a new all-time high of $2.71 on November 17th. Although TWT experienced a steep correction, it now trades at $2.37, gaining 9% in the last 24 hours.

The 7-day price chart for Trust Wallet Token (TWT). Source: CoinMarketCap

TWT is one of the handfuls of cryptos that are in the green year-to-date (YTD). YTD, TWT has gained 210%, the best performer in this category. Trust Wallet Token is now ranked as the 44th largest crypto with a market cap of $935.5 million.

The year-to-date price chart for Trust Wallet Token (TWT). Source: CoinMarketCap

Future Events

The Binance Pay integration is currently available only on the Trust Wallet Android app. However, the Binance team has said that they are working to ensure the integration for the iOS app arrives “soon.”

On the Flipside

  • Bad crypto players are trying to seize the opportunity of crypto users migrating to Trust Wallet to perpetrate scams.
  • Trust Wallet has taken to Twitter to announce that any email asking users to verify their email is a scam and should be avoided.

Community

Trust Wallet previously had one of the biggest communities among decentralized exchanges but has seen massive growth in the last two weeks as users advocate self-custody of their crypto.

While it continues to expand, a common theme is the stellar services offered by Trust Wallet. @revolut20 writes;

Joking about how easy it is to self-custody with Trust Wallet, another Twitter user, @bull_bnb wrote;

Reacting to the rally of Trust Wallet Token (TWT), @NobleCoins wrote;

Why You Should Care

Trust Wallet has already proven to be one of the best multi-chain DEXs available, offering access to over 8 million assets. As the drive for self-custody increases among crypto investors, the prospects of Trust Wallet increase alongside giving TWT the opportunity to become one of the biggest crypto projects on the market.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).