Trust Wallet Price Plummets After Binance Launches Web3 Wallet
The price of Trust Wallet has taken a hit, dropping by 15% to $1.45 following the launch of Binance’s own Web3 wallet. This comes as a surprise announcement from Binance and has made Trust Wallet one of the top losers today. The launch of the Binance Wallet is seen as direct competition to Trust Wallet, leading to the negative market reaction.
However, there are still traders who remain optimistic that Trust Wallet will recover and hit a new local high. Some analysts believe that there is potential for a correction in Trust Wallet’s price.
TWT Price Prognosis As Trust Wallet Faces New Competition
The Relative Strength Index (RSI) has signaled a sell-off after TWT was overbought, indicating increased selling pressure that could push the price below key psychological levels. However, the Awesome Oscillator (AO) suggests that bullish momentum could lead to a recovery in Trust Wallet’s price.
Promising Alternative To Trust Wallet
Investors are now looking at BTCETF as an alternative to Trust Wallet, especially as discussions around spot Bitcoin Exchange-Traded Funds (ETF) gain traction. BTCETF offers investors the opportunity to get ahead of the game before the launch of Bitcoin ETFs in the crypto market.
Hot Take: Should You Invest in BTCETF?
If you’re considering alternatives to Trust Wallet, BTCETF could be a promising option. With presale sales already reaching $70,979 out of the target $420,000 and averaging $35,000 per day, it’s gaining attention as one of the top crypto presales to buy now. Keep an eye on BTCETF as it moves through its five phases and milestones.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
