Binance, the leading crypto exchange by volume, unveiled its proprietary Web3 wallet. This announcement was closely followed by a 7% decrease in the trading price of TrustWallet’s native token, TWT, causing speculation among investors about the future of the token. TrustWallet, a...
Binance, the leading crypto exchange by volume, unveiled its proprietary Web3 wallet. This announcement was closely followed by a 7% decrease in the trading price of TrustWallet’s native token, TWT, causing speculation among investors about the future of the token.
Before this setback, TWT had been enjoying a positive run, with its value soaring by over 60% in just one week. But the tables turned quickly after Binance’s announcement, causing TWT to tumble from its high and currently trading at $1.49.
Interestingly, despite the competition from its parent company, TrustWallet saw a surge in daily volume from $80 million to a whopping $476 million on Monday. This surge came shortly after Binance announced the listing of TWT futures on its exchange platform.