Trust Wallet Token (TWT) price surges by 8% as social volume spikes
Trust Wallet Token (TWT) has finally gained traction after 28 days of consecutive downward momentum. The hike comes with a massive surge in trading and social volumes.
TWT is up 8.4% in the past 24 hours, making it the top gainer among the top 100 cryptocurrencies. The asset is trading at $0.815 with a $342 million market cap at the time of writing.
According to data provided by the market intelligence platform Santiment, Trust Wallet Token’s 24-hour trading volume skyrocketed by 460%, reaching $72.3 million.
Moreover, Santiment data shows that TWT’s social volume rose 370% over the past day.
On the other hand, whale transactions consisting of at least $100,000 worth of TWT have plunged by 100% since Aug. 28. This indicates that small investors have triggered Trust Wallet Token’s recent upward momentum.
Historically, low volatility is expected when small trades drive an asset’s price. Consequently, InvestorsObserver gives a low-risk score to TWT, making it a “good investment.”
On-chain data shows that the number of TWT holders has been slowly rising. It saw a 0.001% hike in the past 24 hours and reached 318,359 unique addresses.
It’s important to note that Binance crypto exchange, Trust Wallet’s owner, removed TWT and three other tokens from its innovation zone.
