Trust Wallet Token (TWT) Sees Positive Momentum with Surge in Trading and Social Volumes
Trust Wallet Token (TWT) is finally gaining traction after 28 days of consecutive downward momentum. This rise comes with a huge surge in trading and social volumes.
TWT is up 8.4% in the past 24 hours, making it the biggest gainer among the top 100 cryptocurrencies. The asset is trading at US$0.815 with a market capitalization of US$342 million at the time of writing.
According to data provided by market intelligence platform Santiment, Trust Wallet Token’s 24-hour trading volume rose by 460% to $72.3 million.
Bullish Momentum and Increased Social Volume
Furthermore, Santiment data shows that TWT’s social volume has increased by 370% over the past day.
On the other hand, whale transactions consisting of at least $100,000 worth of TWT have decreased by 100% since August 28. This suggests that small investors have sparked Trust Wallet Token’s recent bullish momentum.
Historically, low volatility is expected when small trades drive the price of an asset. Thus, InvestorsObserver gives TWT a Low-Risk score, making it a “Good Investment.”
On-chain data shows that the number of TWT holders is slowly rising. It saw a rise of 0.001% in the past 24 hours and reached 318,359 unique addresses.
Trust Wallet Token Removed from Binance’s Innovation Zone
It is important to note that cryptocurrency exchange Binance, which owns Trust Wallet, has removed TWT and three other tokens from its Innovation Zone.
