Trust Wallet Token (TWT), a top-100 altcoin, has experienced a significant surge of over 22% this week, outperforming the majority of the crypto market. The utility and governance token for the Trust Wallet mobile app is currently trading at $0.946, an increase from $0.773 just one week ago. Additionally, TWT has seen a 5% increase in the past 24 hours. Despite being ranked 89th in the crypto market, TWT has managed to outpace the overall market cap, which gained less than 0.5% during the same period, as reported by CoinGecko.
The significant price jump that TWT experienced this week coincided with the release of a new update for Trust Wallet’s browser extension. This update enabled Ethereum Virtual Machine (EVM) swaps, allowing users to perform faster and more efficient transactions. Trust Wallet also teased something “coming soon” on its Twitter account, although specific details were not provided.
Trust Wallet is a self-custody wallet that supports multiple blockchains. With over 60 million users, Trust Wallet is widely recognized in the crypto community. In July, the project introduced a new version of its security-scanning feature, which assigns a risk level to each transaction and alerts users of potential threats. This innovative feature has already prevented over $17.5 million worth of user funds from being sent to scammers since its launch.
Despite the recent price gains, TWT is still down by more than 65% from its all-time high of $2.72, which was reached in December of the previous year. This indicates that there is still potential for TWT to regain its previous levels, although market conditions and investor sentiment will play a significant role in determining its future trajectory.
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In conclusion, Trust Wallet Token (TWT) has seen a substantial surge of over 22% this week, surpassing the performance of most other digital assets in the market. This increase in price coincided with the release of a browser extension update that enabled faster and more efficient transactions. Trust Wallet’s commitment to enhancing user security through its risk-assessment feature has proven effective in protecting user funds from potential scams. It will be interesting to see how TWT develops in the coming months and whether it can continue to regain its previous all-time high.
