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Tokenized as TWT, Trust Wallet Token is a basic BEP-20 utility token that can be exchanged for a number of Trust Wallet features and rewards. Trust Wallet is a mobile cryptocurrency wallet that allows users to store and access a wide variety of cryptocurrencies and tokens from the Ethereum, Binance, and TRON blockchains, among others.
TWT token holders have access to a variety of discounts and bonuses while using Trust Wallet, such as reduced fees for buying and selling cryptocurrencies within the app and using the services of decentralized exchanges (DEX). Trust Wallet token holders may participate in the app’s governance by voting on suggested modifications and voting for new tokens.
Originally released as a BEP-2 asset on Binance Chain, Trust Wallet Token was reissued as a BEP-20 token on Binance Smart Chain in October 2020. TWT has increased in value during the past day, rising 10.73% to $2.19.
TWT Price Analysis
TWT has been one of the best-performing tokens this week. This token hit a record high of $2.71 on November 14, but it has now pulled back from those highs and is now attempting to push lower.
TWT’s market value rose to $822m, a huge jump that sent it up 44 spots in the rankings, thanks to the recent advances.
Even if the recent decline fails to attract buyers and fails to test the barrier at $2, the coin has displayed positive indicators. General pessimism in the market persists at now, and the potential for increases may be hampered by a lack of market support.
FTX’s Loss is TWT’s Win
Following the recent failure of the FTX bitcoin exchange, clients are seeking other storage solutions, such as Trust Wallet. Users are moving away from exchanges and toward self-custody systems in order to have greater control over their cryptocurrency holdings.
However, in an effort to get more crypto traders to store their funds on the Trust Wallet platform, the company has created a desktop browser extension. The wallet is compatible with the Solana blockchain and all Ethereum Virtual Machine chains.
Trust Tokens, or TWT, are the platform’s original token. The latest upswing may be attributed to the wallet’s internal advancements, and if usage keeps rising, another surge may be on the horizon.
TWT Price Prediction
The current live price of Trust Wallet Token is $2.20 USD, with a 24-hour trading volume of $389,313,103. The token has increased in value by 10.73% over the course of the previous 24 hours. The current position on CoinMarketCap is #44, and the total market cap as of right now is $916,515,423. There is a total supply of 416,649,900 TWT coins available for circulation, with a maximum supply of one billion TWT coins.
At the price of $1.94, TWT has finished the retracement of the 50% level of the Fibonacci sequence. A breach of this level is expected to send the price of TWT tumbling to $1.75, which corresponds to the 61.8% level of the Fibonacci sequence.
Despite the fact that the key indicators are pointing to a negative bias, it is probable that the 50-day moving average will support it around $1.4875. Bearish sentiment should prevail below $1.9385, while bullish sentiment should prevail above this level.
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