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On November 13th, the Trust Wallet token’s price rose to a new all-time high of $1.75. Investors also increased by 47%, and the TWT token saw a positive climb this week. This has been due to several reasons, the top of which may be the FTX exchange going bankrupt and investors looking for strong decentralized wallets.
In the past 24 hours, trading volume jumped by 600%, reaching $140 million. In the midst of the current cryptocurrency market turmoil, the Trust Wallet token’s price rose to a new record high of $2.6. Its decentralization and administration were two key factors for this astounding acceleration. Despite the reality that Bitcoin recently reached a two-year low, TWT, the Trust Wallet’s governance token, has been consistently moving upward.
On November 10, purchasers abruptly bounced out of the price retracement phase, initiating the rally. TWT said that they are handling almost eight million digital assets, including NFTs, in a tweet on November 11. This week’s sharp price increase is the result of them only attempting to calm the market’s concern.
What is the Trust Wallet Token (TWT) exactly?
The most user-friendly Bitcoin interface is what Trust Wallet strives to be. Users may transmit, receive, and stake bitcoins using mobile smartphones. According to the Trust Wallet website, users may exchange bitcoin (BTC/USD) in significantly less time than five minutes.
The enormous number of cryptocurrencies available on the site is advantageous to many investors. “The wallet handles over 1 million tokens while letting users purchase many other cryptocurrencies through third-party suppliers such as Simplex, Ramp Network, MoonPay, Mercuryo, Transak, and Wyre,” according to Investopedia.
Trust Wallet has also distinguished itself by its non-custodial approach. Users have total control over their bitcoins and private keys. While this provides security benefits, the drawback is that cash cannot be restored if the key is indeed stolen. The platform also offers stake and earning alternatives. It presently provides 12 different currencies with APRs ranging from 0% to 11%.
Viktor Radchenko established Trust Wallet and stood down as CEO in March 2022 to concentrate on his family. Eowyn Chen, who was formerly the marketing head at Binance, took his post.
Is this the most recent all-time high resistance?
Buyers are actively following a positive trend, and the Trust Wallet Token value reached an all-time high of $1.75 on November 13th. This price level serves as an immediate barrier, and bears will attempt to defend themselves against further surges. Meanwhile, TWT is trading at $2.3, representing a 8% intraday increase.
Following a fast bullish surge, the $1.0 level has changed into a crucial support level, and bulls get a key defensive zone at the rising trendline. The TWT cryptocurrency has seen a fast bullish run this week, with purchasers gaining 47% so far. Trading volume climbed 600% in the past 24 hours, reaching $140 million.
Trust Wallet cryptocurrency is still trading well above the daily major moving averages. Bulls are consistently accumulating the token at the 20 DMA (white). Despite the fact that the RSI has entered the overvalued zone, a stronger positive movement is probable.
Price Prediction for Trust Wallet Token
At the time of this writing, various experts who have issued TWT coin price predictions agreed that it will continue on its upward path. DigitalCoinPrice predicted that it will average $1.15 this year & $2.99 in 2025. It forecasts a top price of $6.55 for the Trust Wallet Token in 2030.
According to WalletInvestor’s TWT crypto price projection, it was an “excellent” investment that would have hit $1.30 in a year. It was predicted that the TWT price would exceed $1.50 by 2025.
TechNewsLeader made a comparable projection for the price of trust wallet tokens in 2023, looking for a top price of $2.03. According to predictions, the token would have reached $20 in 2029 & $30 in 2030.
The Trust Wallet Token’s potential $1 price this year wasn’t predicted by PricePrediction. However, the TWT price estimate indicated that it may have reached $12.19 in 2028 & $26.50 in 2030.
It’s important to remember that cryptocurrencies still are highly volatile, making it difficult to predict a coin and token’s price with just about any degree of precision in the near term and even more difficult to do so in the long run. As a result, forecasters and analysts using algorithms can provide inaccurate predictions.
Conclusion
Despite the huge selloff in the crypto market, TWT is outperforming. Traditional technical indicators favour bulls and indicate that the TWT price will continue to rise. However, there may be a chance that the current news is the only catalyst driving up sales.
Some of the safest and high-promise options would include projects like Dash 2 Trade or Robotera, which have been gaining much traction in the space recently. For investors looking to park their funds in excellent assets, these projects may turn out to be a great choice.
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