The pump of Trust Wallet Token (TWT)

[electronicash]

as of the time, its 111.64% with a price of $2.46. last week it was just $1.04.
i didn't join to their chat channel but one user said, people are moving to their own installed wallet due to what happen to FTX so they are now using Trust wallet.

i don't know why of all wallet why this one. is binance messing?

[omone1]

They just launch their wallet extension broswer just like Metamask this is the reason for the massive rally. Sadly, I sold off over 3k I had. Crypo can always be like that, it could have gone either way. I expect good dex tokens to make some rallies in the coming days ahead. You can find the extension on their website. This looks like a direct competition to Metamask. People are very well use to metamask extension.

[devil2man]

I also noticed that the value of twt has doubled, there must be some news regarding the wallet trust at the base, otherwise this sudden growth cannot be explained, is there any dex where they can be staked? on pancakes the promotion is over unfortunately

[TimeTeller]

They just launch their wallet extension broswer just like Metamask this is the reason for the massive rally. Sadly, I sold off over 3k I had. Crypo can always be like that, it could have gone either way. I expect good dex tokens to make some rallies in the coming days ahead. You can find the extension on their website. This looks like a direct competition to Metamask. People are very well use to metamask extension.

And to add with this development, I believe the fall of FTX also contributes to this increase.
People are capitalizing the fact that the rival binance is in good position right now.
And TWT is backed by binance company, so no wonder people are somehow pumping it.
Just be careful buying now, because it may go down after everything settles in.
Though the chance to further increase is there because binance is one of the reputable and top crypto-exchanges, and they are still expanding.

[goaldigger]

as of the time, its 111.64% with a price of $2.46. last week it was just $1.04.
i didn't join to their chat channel but one user said, people are moving to their own installed wallet due to what happen to FTX so they are now using Trust wallet.

i don't know why of all wallet why this one. is binance messing?

The recent update with Trust wallet might be the reason and probably that FTX issues give them the opportunity as well. Binance is also an exchange and there is a trust issue with the exchanges right now especially with Binance getting involve actively on what happened to FTX. Trust wallet is an open source as pet them, that could be the safest option for now, and personally I prefer this one as well.

[TastyChillySauce00]

as of the time, its 111.64% with a price of $2.46. last week it was just $1.04.

FOMO, that's not something new in the market. people getting FOMO caused by CZ was making FOMO for TWT after the collapse from FTX. CZ was also making some awareness if another exchange site potentially goes down too. That makes so many people are withdraw theirs assets on the exchange site and then try to keep it in the wallet like TWT.

i didn't join to their chat channel but one user said, people are moving to their own installed wallet due to what happen to FTX so they are now using Trust wallet.

[/quote]It's not only FTX but FOMO gets triggered by crypto.com case and gate io too. CEX was not even safe place anymore. Not your key not your money. That's it.

i don't know why of all wallet why this one. is binance messing?

It's caused by TWT is directly affeliation with binance. Binance has known as backer by trust wallet. Binance was also being so transparent about its reserved funds that's it.

[ultrloa]

as of the time, its 111.64% with a price of $2.46. last week it was just $1.04.
i didn't join to their chat channel but one user said, people are moving to their own installed wallet due to what happen to FTX so they are now using Trust wallet.

i don't know why of all wallet why this one. is binance messing?

Maybe hype gather those people to think that way since they maybe look CZ became a hero after the incident happen on FTX. But if we really think deeply about it on what happen on FTX we should trust easily those exchange even how trusted they are since what happen to them might happen to binance or other big exchange to. So even if TWT pump we can't conclude that there are good happening or we can fully trust them with our funds so better store our money on wallets which we hold the private key and always believe on saying which always reminded here that "Not your keys not your coins" to make ourselves aware about those things that might compromise us.

[sheenshane]

I see here the price of TWT will still be rallying, Trust Wallet supports 8 million crypto coins, and also NFTs tokens.  So the TWT is their native token that will surely user use this while using Trust Wallet.  Its hype is this wallet is an open-source wallet that they think is a safe wallet because of what happened to FTX's bankruptcy.

It seems IMO, Binance has a commission to Trust Wallet, what do you think?
Binance hyped too much Trust Wallet as per see.

[GreatArkansas]

I am curious why Trust Wallet, got have its own token which is Trust Wallet Token (TWT), is this not a conflict of interest? I saw some non-custodial wallets and they don't have any tokens that they own it.
Another thing is this Trust Wallet is tied with Binance, Binance is their huge backer I believe. Even though this wallet is open source, I don't really trust this wallet, just my 2 cents.

[goldkingcoiner]

I recommend reading the posts in this topic on trust wallet security issues: https://bitcointalk.org/index.php?topic=5420819

Trust Wallet is not decentralized and it is not open source. This means they could possibly have access to their user's keys and obviously, being centralized, if something did happen like if they were hacked for some reason, that sensitive information would be going over to the hackers. And your coins with it.

So even if we see a pump of the Trust Wallet Token by nearly 200%, I would still stay away from it. The size of pumps should not be your measure for the quality of wallet/other services.

[tbct_mt2]

i didn't join to their chat channel but one user said, people are moving to their own installed wallet due to what happen to FTX so they are now using Trust wallet.

There are so many non custodial wallets to use and Trust wallet is only one of options for users.

Metamask, Myethewallet, SafePal, C98 wallets are all non-custodial wallets and people don't have to bind themselves with Trust wallet.

Moreover, they should practice to import wallet seeds from one wallet to another (like from Trust wallet to Metamask for example). I would like to use non custodial wallet that does not use their own special seeds because I will be in trouble if wanting to import seed to other wallet.

Exchanges come and go, disappear. Seed is here with us forever but if only one wallet is compatible with that seed and if that wallet is no longer working, you will lose your crypto.

[gunhell16]

as of the time, its 111.64% with a price of $2.46. last week it was just $1.04.
i didn't join to their chat channel but one user said, people are moving to their own installed wallet due to what happen to FTX so they are now using Trust wallet.

i don't know why of all wallet why this one. is binance messing?

As far as I know, due to the FTX issue and even the FUD that is happening now about crypto.com, non-custodial wallets such as the Trustwallet app only show that crypto assets are safer if they are placed in the Trust wallet. Which, it's indeed safe to put crypto assets if we're willing to hold them for a long time and they should only be put in a non-custodial wallet, I just don't know if I understand it correctly.

Because of these events, it just goes to show that putting a large amount of money into well-known exchanges is not 100% safe even if it is like Binance or others.

[blockman]

No, not binance is messing. This is just a community movement everyone is starting to secure their assets, trying to find out what they can be secured with their funds.
I'm starting to see those that who have been moving their funds are those that have been worried and have probably kept their funds in any exchange. And now, are alarmed by what happened to FTX and that's why this is actually a good thing that's happening. Not talking about the price of the token but about the wallets where we have the private keys.

[BitDane]

I recommend reading the posts in this topic on trust wallet security issues: https://bitcointalk.org/index.php?topic=5420819

Trust Wallet is not decentralized and it is not open source. This means they could possibly have access to their user's keys and obviously, being centralized, if something did happen like if they were hacked for some reason, that sensitive information would be going over to the hackers. And your coins with it.

So even if we see a pump of the Trust Wallet Token by nearly 200%, I would still stay away from it. The size of pumps should not be your measure for the quality of wallet/other services.

I never used trust wallet, somehow I am skeptical because of what is discussed on that thread. I am already have metamask for the supported altcoin wallet, and electrum for BTC, I don't think there is a need for me to use trustwallet.

About the current price, I do not think the collapse of FTX has something to do with the price surge.  Remember the fund inside FTX is somehow frozen so there is no way users of FTX will move their fund to trustwallet.  What more contribute to the pump I think is the support of Binance but either way I believe this is just a short pump that will be followed by huge dump.  So better get out while still in profit. and do not get FOMOed.

[electronicash]

so i have read it today in cointele a newly published article today. and CZ had promoted this Trust wallet also, not surprising anymore that this is becoming a popular wallet instead of the BTC wallet.

they prefer trust wallet not just because they have BTC but also some BEP tokens.
https://cointelegraph.com/news/ftx-collapse-is-trust-wallet-token-s-gain-why-did-twt-price-soar-150-in-six-days

[iv4n]

I chose AWC, which had a better interface at that moment. Now AWC is holding at half a dollar or around, but the all-time high was over 6 dollars. Both Atomic and Trust wallet had their bounties here, years ago, they had different drops as well. The very similar concepts between these two, both are multicurrency wallets, they support different chains, and both have staking options...

Now looks like the Trust wallet gained some visibility, and I can't say I am surprised. I like these kinds of wallets with more options and it was just a question of when will they get more popular. I guess when CZ helps with promotions it's even easier to get that popularity.

[TastyChillySauce00]

so i have read it today in cointele a newly published article today. and CZ had promoted this Trust wallet also, not surprising anymore that this is becoming a popular wallet instead of the BTC wallet.

CZ was taking advantage over FTX collapse to promote its ecosystem to the public. There are so much money potentially to be moved from exchange site to the wallet like trust wallet. The total money got withdrawn from exchange site was up to 3.2 billions which are a lot of money.

they prefer trust wallet not just because they have BTC but also some BEP tokens.
https://cointelegraph.com/news/ftx-collapse-is-trust-wallet-token-s-gain-why-did-twt-price-soar-150-in-six-days

The main intention to use trust wallet to store BSC related token like BUSD or another kind of token that being operated in the binance smart chain. I see that this has no relationship with bitcoin. It can be used to store bitcoin but mostly of these users were using BSC token instead of bitcoin.

[tbct_mt2]

CZ was taking advantage over FTX collapse to promote its ecosystem to the public. There are so much money potentially to be moved from exchange site to the wallet like trust wallet. The total money got withdrawn from exchange site was up to 3.2 billions which are a lot of money.

If you are CZ, you would do the same too. It is a very great free chance to shill your exchange, your ecosystem and your branch companies and it is totally free chance.

The main intention to use trust wallet to store BSC related token like BUSD or another kind of token that being operated in the binance smart chain. I see that this has no relationship with bitcoin. It can be used to store bitcoin but mostly of these users were using BSC token instead of bitcoin.

Trust wallet is only one of wallets available to be chosen for using during this crazy time of cryptocurrency market. Not your keys, not your coins. It is true for Bitcoin and all altcoins.

Don't trust centralized exchanges and custodial wallets. In addition, if you can choose between open-source and close-source wallets, let's choose open-source wallet and both should be non custodial.

[Fundamentals Of]

I am curious why Trust Wallet, got have its own token which is Trust Wallet Token (TWT), is this not a conflict of interest? I saw some non-custodial wallets and they don't have any tokens that they own it.
Another thing is this Trust Wallet is tied with Binance, Binance is their huge backer I believe. Even though this wallet is open source, I don't really trust this wallet, just my 2 cents.

I also don't trust this wallet. This is owned by Binance and this is not really an open-source wallet especially if you have the Android version. This is promoted differently. So when CZ and Binance promote Trust wallet, there is an amount of dishonesty involved. So I don't think Trust wallet should be trusted.

And one thing that really boggles me is why they create a token. This is obviously an attempt to make money out of nothing. Reliable non-custodial wallets like Electrum and Bluewallet that theymos mentioned didn't create a token and they functioned perfectly.

[Strongkored]

So even if we see a pump of the Trust Wallet Token by nearly 200%, I would still stay away from it. The size of pumps should not be your measure for the quality of wallet/other services.

I'm agree with you, a price increase should not be a benchmark that their wallet is trusted even with a very high increase in a short time it should be a warning to be careful and not follow the hype that is happening, because trading volume also increases prices can be manipulated and this is what often happens with cryptos