Trust Wallet Token (TWT) overview

TWT token holds the 80th spot in CoinGecko's ranking of cryptocurrency projects.

We attempted to uncover what factors have contributed to the success of this seemingly ordinary cryptocurrency wallet token.

In 2017, Victor Radchenko, a well-known developer, identified a significant issue with the lack of multi-currency mobile wallets. He set out to create a simple application that could support various blockchains and networks, eliminating the need for multiple wallets. Trust Wallet was born in California, providing a user-friendly and accessible solution for storing digital assets.

The development of the TWT token was initiated alongside the main Trust Wallet application.

The cryptocurrency exchange Binance acquired Trust Wallet in 2018. No details have been released about the deal's exact value. However, Binance's CEO Changpeng Zhao stated that the acquisition was a significant step towards enhancing user convenience.

Despite being supported by a centralized exchange, Trust Wallet is a non-custodial wallet, meaning that the private key to access storage is known only to the user.

TWT was deployed on the Binance Chain network and followed the BEP2 token standard. This is the same standard used for Binance's native coin, BNB.

In 2020, due to low liquidity and synchronization issues, TWT was deployed on the BEP-20 network. This is the Binance Smart Chain (BSC) blockchain standard, which is EVM-compatible, meaning it is fully synchronized with Ethereum wallets and other networks. 

The TWT token can be utilized as a means of payment for various functions of the Trust Wallet, as well as for staking and farming. Additionally, users can receive discounts on transaction fees by using the token.

■ Market capitalization– $610 million.

■ Max supply – 1 billion.

■ Circulating supply – 416 million.

■ Average daily trading volume – $32 million.

■ All-time high – $2.66.

■ All-time low – $0.0025.

One can purchase the TWT token on various exchanges such as MEXC, Gate, KuCoin, decentralized platforms like Pancake Swap, Biswap, and many others. A comprehensive list of available trading platforms can be found on the CoinGecko and CoinMarketCap websites under the "Exchanges" section.

It is surprising to note that TWT's price is constantly rising. This is unusual, as cryptocurrency wallet tokens have little practical use.

Although TWT token offers some bonuses on Binance exchange, it lacks practical utility. Trust Wallet can be used without holding the token. This suggests that the token is developing separately from the core product and serves more as a marketing move than a practical tool.

Despite having a limited use case and mainly serving as a marketing tool, TWT's price continues to hit new all-time highs. On December 11th, 2022, the token reached an ATH of $2.8, and the current coin price is $1.47. The number of holders on the BSC network, according to BscScan, has exceeded 300,000 people.

● In 2020, Trust Wallet conducted an airdrop among verified Binance users. The reward was 100 TWT per account, which was worth $13 at the time of distribution. Currently, it is valued at approximately $145.

● In late 2022, Trust Wallet released a browser version of its wallet.

● According to the developers' statements, the team plans to create a DAO. With TWT tokens, one can vote and participate in project management.

In short, TWT has a strong marketing foundation and a good market maker who consistently maintains the price. Even the bear market and the fall of BTC have not had much impact on the token's value. Therefore, future prospects will depend on the number of Trust Wallet users and the speed of updates implementation.