TWT Price Prediction – Is the FTX Crash a Gain for Trust Wallet?
TWT price is down 13.6% in 24 hours and is looking bearish today. The token is falling today after a massive rally over the past few days. Despite the reversal, TWT is still up 70% in the past week.
Trust Wallet Token – TWT Price
TWT is one of the top-performing tokens in the cryptocurrency market this week. On November 14, this token reached an all-time high of $2.71, but it has since retreated from these levels and is now pushing lower.
At the time of writing, TWT was trading at $1.96, with trading volumes of more than $303 million in the last 24 hours. Amid the recent gains, TWT’s market capitalization has increased significantly to more than $822 million, and it now ranks as the 53rd largest cryptocurrency.
The uptrend has been exhausted, and traders are now dumping the tokens to take profits. If the token continues to plunge, it will likely drop toward the $1.75 level. The token’s drop to such lows could trigger panic selling amid fears that all the recent gains will be erased and $1 could be on the way.
The token could turn bullish again if the current dip attracts buyers and test the resistance at $2. The broader market remains bearish today, and the lack of market support could hamper the possibility of gains.
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FTX Collapse Is TWT’s Gain as Demand for Self-Custody Rises
The recent collapse of the FTX cryptocurrency exchange has created a demand for self-custody wallets like Trust Wallet. Users have lost faith in exchanges and are now shifting their attention toward self-custody platforms to have more control over their crypto assets.
On the other hand, the Trust Wallet recently released a browser extension for desktop to attract more crypto traders into custodying their assets in the platform. The wallet supports all Ethereum Virtual Machine chains and Solana.
TWT is the native token for the Trust Wallet. These developments within this wallet have been behind the recent gains, and a rally could be on the way again if adoption continues to grow.
New Crypto – Dash 2 Trade
The collapse of FTX has created gains for Trust Wallet and a new cryptocurrency project known as Dash 2 Trade. Dash 2 Trade is a crypto signals platform seeking to support beginner and experienced cryptocurrency traders in making profitable trades.
The collapse of FTX has caused massive losses for many investors. With Dash 2 Trade, such losses can be avoided because the platform will give insights to investors that will help them to make informed trading decisions.
Presale for the Dash 2 trade have raised more than $6.35 million. The presale is in its third phase, which will end after raising $8.757 million. The presale has nine stages, with the price increasing in each stage. The token has confirmed that it will be listed on LBank and BitMart after the presale ends.
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