As users flee exchanges and turn to noncustodial wallets amid FTX FTT/USD collapse, Trust Wallets native token TWT/USD has rallied more than 100% in the past seven days.
What Happened: TWT, is presently up 17.88%, trading at $2.19 and now ranks as the 44th largest cryptocurrency in terms of market capitalization, according to CoinMarketCap.
See Also: Digital Securities
Apex cryptocurrency Bitcoin BTC/USD is up 0.10% over the past week, hovering around the $16,000-mark. Ethereum ETH/USD and Dogecoin DOGE/USD are up 1.84% and 6.04%, respectively, in the last seven days.
The surge in TWT price comes after Changpeng Zhao CZ, the CEO of Binance,tweeted about the necessity of self-custodial wallets, contributing to the tokens drastic rise.
According to Santiment, TWT started getting a lot of attention last week after the fall of centralized crypto exchange FTX, which left many traders scrambling to find safe wallets to keep their tokens.
Price Action: At the time of writing,ETH wastrading at $1,202.52, down 3.22% in the last 24 hours. DOGE at $0.085, down 3.22%, according toBenzinga Pro data.
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