The price of Trust Wallet Token (TWT), the native token of the non-custodial crypto wallet, has experienced a staggering surge of 30% over the past week. This surge comes at a time when the global crypto market has been gripped by extreme volatility, triggered by the emergence of news surrounding the US Securities and Exchange Commission (SEC) on June 5.
Despite the prevailing FUD (fear, uncertainty, and doubt) surrounding the industry and Binance, TWT managed to break free from the downward trend, displaying impressive gains throughout the week. As of now, the token is trading at $0.94, with a remarkable 4.98% rise over the past 24 hours.
The trading volume of TWT also experienced a significant boost, skyrocketing by almost 1,000% on June 15, from approximately $10 million on June 14 to an astounding $109 million in just a day. Additionally, the token’s 24-hour trading has surged by 6% in the past 24 hours, currently standing at roughly $18.7 million.
Trust Wallet Introduces TRON DAO V2 Staking Integration
The green surge can be attributed to the recent announcement made by Trust Wallet, a subsidiary of Binance, regarding the integration of TRON DAO V2 staking on June 16. This integration enables Trust Wallet users to stake TRX directly within their wallets, eliminating the need for third-party applications.
— Trust Wallet (@TrustWallet) June 16, 2023
Furthermore, Trust Wallet, despite facing challenges in the past, has continued to evolve and enhance its platform. The company recently confirmed that users can directly purchase over 100 cryptocurrency coins and tokens with fiat currency through their TrustWallet, whether on iOS or Android, and via any of its six providers.
TrustWallet is a secure and decentralized multi-chain crypto wallet that allows users to manage and securely store over 10 million digital assets, including NFTs, across more than 70 blockchains. One of its standout features is the ability to serve as a one-stop shop for Web3, enabling users to buy and sell crypto, stake crypto to earn rewards, store and transfer crypto, and access thousands of Web3 dApps (decentralized applications) securely.
Whether iOS or android and through any one of our 6 providers, you’re sure to find your match.
— Trust Wallet (@TrustWallet) June 19, 2023
While there is no direct answer to the reasons for the impressive surge in the Trust Wallet Token (TWT), however, the recent integration of TRON DAO V2 staking with the TrustWallet platform might have been a contributing factor.
Coinciding with this news, TRON MainNet is also celebrating its fifth anniversary after making significant strides over the past five years. Boasting over 165 million users globally and having processed more than 5.7 billion transactions, TRON holds the second-highest TVL (Total Value Locked), with only ETH ahead, according to DefiLlama.