On a day of significant developments in the crypto world, the price of Trust Wallet Token (TWT) surged over 20% to reach $1.30. However, after the sharp increase, TWT lost some of its gains and is currently trading at $1.25 at the time of writing this article. The surge in TWT is backed by the cryptocurrency exchange giant Binance.
Binance’s Listing of TWT in Futures Sends Price Soaring
The sharp increase in TWT’s price caught the attention of crypto investors, resulting in its prominence. The catalyst for this increase was the long-awaited listing of TWT on Binance Futures. Despite being listed on Binance Spot for several years, TWT was not available for futures trading. The cryptocurrency exchange finally met the expectations of investors by listing TWT on the futures market. Following the listing, the price of the altcoin quickly reached $1.30.
Trust Wallet, a well-known cryptocurrency wallet provider with close ties to Binance and a focus on privacy, has already been on investors’ radar due to a comprehensive rebranding and a complete redesign of its wallet application interface. The listing of the altcoin on Binance Futures seems to have prompted investors to take action.
The addition of TWT to futures trading on Binance is a significant milestone for the altcoin. Furthermore, Bybit became the first cryptocurrency exchange to list TWT in futures trading.
Impact of Altcoin Listings on Futures
The strong response of TWT to its listing on Binance Futures is not an unprecedented situation. The listing of an altcoin on major cryptocurrency exchanges such as Binance and Upbit often results in a double-digit increase in the price of that altcoin. This trend highlights the impact of listings on the price of altcoins.
Crypto investors are closely monitoring the developments surrounding Trust Wallet Token, as they believe its true potential has yet to be fully realized. The close relationship between the project and Binance has led to various speculations that TWT will follow the path of Binance Coin (BNB) and significantly increase in value.
