Trust Wallet's TWT token jumps over 40% on Binance co-founder’s statement
The wallet provider is boosting TWT's utility and user engagement through a new strategy and integration of features.
Key Takeaways
- Trust Wallet's TWT token spiked over 40% following Binance co-founder CZ's remarks about its expanding utility.
- Trust Wallet recently unveiled a new strategy including loyalty rewards and ecosystem incentives to boost TWT's role and user growth.
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Trust Wallet’s TWT, the governance and utility token of the Trust Wallet ecosystem, climbed over 40% after Binance co-founder Changpeng “CZ” Zhao spoke about its evolution and growing use cases.
“TWT token started as an experiment. The FDV got too high quickly. They burned 99% of the supply, but didn’t have too many use cases for it. Now that’s expanding,” CZ wrote on X on Friday.
TWT rose from around $0.89 to over $1.2 minutes after CZ’s statement. The token briefly hit $1.3 on Binance.
CoinGecko data shows the token now trades above $1.1, down over 50% from its $2.7 all-time high established in late 2022.
Trust Wallet is implementing a new strategy to enhance utility and user engagement for Trust Wallet Token (TWT), according to a tokenomics litepaper released on Thursday. The team aims to enhance TWT’s utility and user engagement with its new roadmap.
The platform, which supports more than 100 blockchains, plans to implement tiered loyalty rewards, improved service features, and community incentives to boost TWT’s role within its ecosystem.
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