This week, Trust Wallet (TWT), an altcoin project featured by Binance CEO CZ, has managed to reach the most sought after. The project is rising to the top in popularity amid growing concerns after FTX’s bankruptcy.
Binance-backed Trust Wallet (TWT) is on the most wanted list
As you follow on Kriptokoin.com, Binance CEO CZ mentioned the TWT Token in his tweets dated November 13. The altcoin rallied over 80% after CZ’s share. Now, it maintains this momentum based on popularity. Alongside projects like Shiba Inu and Tron, Trust Wallet wraps up this week as the seventh most sought-after cryptocurrency. Here is an overview of the most searched altcoins on Binance this week, according to data provided by CryptoDiffer:
An overview of the list shows that Solana, which melted away with the collapse of FTX, is still popular. Meanwhile, on the FTX Token (FTT), it finished the list at 14th place.
What is Trust Wallet and why is it in demand?
Trust Wallet is a hot wallet that supports over 1 million different cryptocurrencies managed from a smartphone. Through the app, users can purchase cryptocurrency. Because Trust Wallet primarily works on smartphones, it is difficult to use with NFT marketplaces and decentralized exchanges. As a decentralized wallet, its customer service is limited to technical issues. Users cannot get help recovering secret phrases or PINs to regain access to their currency.
Among other decentralized storage solutions, Trust Wallet stands out with the following features:
- Supports over 1 million cryptocurrencies: Trust Wallet supports a large number of cryptocurrencies and NFT on various networks, including Bitcoin, Ethereum and BNB Chain.
- Convenient setup and use on smartphones: Setting up a new wallet or switching to Trust Wallet takes minutes and can be restored using a secret 12-word phrase.
- Easy to buy directly in the wallet and stake in cryptocurrency: Cryptocurrency can be purchased from six different providers, and interest-earning staking is available for 12 coins.
CZ’s tweets had an impact on the TWT price
Binance CEO highlighted Trust Wallet as its decentralized storage solution during the week. The project is also supported by Binance. Therefore, CZ’s statements quickly found voice on social media. The TWT price gained over 80% in a short time. At the time of writing, it retains a large portion of those earnings.
The TWT token is currently trading at 50th place by market cap. After CZ’s tweets, it reached this position outside the top 100 in a short time.
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