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In a day marked by significant developments in the cryptocurrency realm, Trust Wallet token (TWT) took center stage with a remarkable 22% surge in its value. The catalyst for this surge was the long-awaited listing of TWT on Binance futures, a move that instantly propelled the token's price to $1.3568, its highest level since April 2023.
Trust Wallet, a well-known noncustodial cryptocurrency wallet closely affiliated with Binance, recently underwent a comprehensive rebranding and interface redesign. Despite being available for spot trading for several years, TWT's entry into the futures market on Binance marked a pivotal moment for the token.
It is noteworthy that Bybit was the first exchange to introduce TWT futures.
The immediate price surge of TWT in response to the Binance futures listing is not unprecedented in the crypto space. Major exchanges like Binance and Upbit have a history of triggering double-digit price increases for tokens when they introduce futures trading.
This pattern underscores the immediate influence of news on the quotes of digital assets.
Crypto investors are surely keeping a close eye on the developments around the Trust Wallet token, as it still has untapped potential. On the one hand, it belongs to the wallet category along with the long-awaited MetaMask token.
On the other hand, being closely related to Binance, it opens up room for speculation for TWT to go the way of BNB. And if you take a look at the Binance Coin chart, you will see what the talk is all about.