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This Token Shows Best Price Action on Polygon After 18% Daily Surge

Thu, 11/17/2022 - 11:53
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Gamza Khanzadaev
Best performer of last few days on Polygon blockchain is revealed: details
This Token Shows Best Price Action on Polygon After 18% Daily Surge
Cover image via stock.adobe.com

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As reported by Polygon Daily, a portal that reviews the most interesting developments in the life of this blockchain, the best price performance on Polygon in the last 24 hours was shown by the token of the noncustodial Trust Wallet, TWT. Up 18% in the last 24 hours, TWT has more than doubled in value ahead of both SFP, which represents the SafePal wallet, and LDO, which is the governance token of the popular liquid staking platform on Ethereum, Lido Finance.

What is interesting is that TWT is derived from Binance Smart Chain, but that does not stop it from outperforming assets from other networks. The token received a large influx of funds and attention after the collapse of FTX and its aftermath sparked a new wave of interest in decentralized solutions. Being a completely noncustodial solution, Trust Wallet receives a lot of support from Binance, and the TWT token itself is widely utilized and expected to be involved even more in all sorts of transactions on the wallet.

Can Polygon outpace Ethereum?

Polygon, on the other hand, is an equally fast-growing project. MATIC, a native blockchain token, managed to break into the top 10 cryptocurrencies by market capitalization during the "extremely cold" crypto winter. The number of unique addresses on the Polygon network has recently reached 191.6 million.

All of this was the result of Polygon's own mass adoption, which in the meantime has managed to get into the Disney accelerator, become an NFT infrastructure provider for Reddit and Instagram, and cooperate with Mastercard and Nike.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.