Trust Wallet Token (TWT) Surges with Increased Trading and Social Volumes
Trust Wallet Token (TWT) has experienced a significant uptick following a 28-day stretch of continuous declines. The surge in TWT is accompanied by an impressive increase in trading and social volumes.
TWT has gained 8.4% in the past 24 hours, making it the top performer among the top 100 cryptocurrencies. Currently, the token is trading at $0.815 with a market cap of $342 million.
Data from Santiment, a market intelligence platform, reveals that TWT’s trading volume over the past 24 hours has soared by 460%, reaching $72.3 million.
Furthermore, the social volume for TWT has surged by 370% within a day, according to Santiment.
Interestingly, whale transactions involving at least $100,000 worth of TWT have dropped by 100% since August 28. This suggests that the recent upward movement in Trust Wallet Token is being driven by small investors.
Typically, when small trades push the price of an asset, low volatility is expected. Therefore, TWT has been given a low-risk score by InvestorsObserver, indicating it is a favorable investment.
On-chain data shows a gradual increase in the number of TWT holders, with a 0.001% rise in the past 24 hours, bringing the total to 318,359 unique addresses.
It is worth noting that Binance, the cryptocurrency exchange that owns Trust Wallet, has removed TWT and three other tokens from its innovation zone.
Hot Take: Trust Wallet Token (TWT) Sees a Positive Turnaround after Continuous Declines
The recent surge of Trust Wallet Token (TWT) is a promising sign for investors following a prolonged period of downward momentum. The remarkable increase in trading and social volumes demonstrates renewed interest in TWT, making it one of the top gainers in the cryptocurrency market. By analyzing data from Santiment, it is evident that both trading volume and social volume for TWT have experienced substantial growth, indicating increased market activity and engagement. Interestingly, the rise in TWT’s value is being driven by small investors rather than large-scale whale transactions. This suggests a potentially lower risk for investors, as historically, assets driven by small trades typically exhibit lower volatility. Furthermore, on-chain data reveals a gradual rise in TWT holders, affirming the growing popularity and adoption of Trust Wallet Token. Despite being removed from Binance’s innovation zone, TWT’s upward trajectory signals a positive turnaround for the token.
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