TWT Challenges The Market
Most cryptocurrencies are going through tough times. However, the Trust Wallet Token (TWT) continues its earnings challenging the overall market. In fact, at the time of writing on November 18, TWT is trading at 2.2 dollars, gaining almost 10% over the past 24 weeks. At the same time, CoinMarketCap Trust crypto wallet’s local. Its weight is up about 92% on the weekly chart.
After the FTX debacle, TWT, which attracts constant attention, is also recording an increase in capital inflows. The token controlled a market capitalization of 950.47 million dollars at the time of writing.It then added about 460.27 million dollars per week. Valuation exceeded 1.1 billion dollars on November 14.
The token is a direct beneficiary of the FTX currency crisis as most investors move away from trading platforms. Notably, FTX, which was among the leading crypto exchanges at its peak, has been hit with a liquidity crisis that sent shockwaves into the market as traders on other exchanges prefer to store their crypto assets in external wallets.