a short while ago Trust Wallet ‘s native token (TWT) lost 7.39% in value after Binance launched its competitive Web3 wallet.
Trust Wallet is a solution that allows users to securely store and manage their cryptocurrencies in the DeFi (decentralized finance) world. It has continued to be part of the company since 2018, when Binance acquired the wallet.
As we reported as Koinfinans.com BinanceJust before ‘s wallet launch TWT token It started to rise and experienced a significant increase in value of 60% compared to the previous week. One reason for this increase was related to Binance’s announcement that TWT futures would be listed on its exchange. The daily trading volume of the altcoin jumped from $80 million to $476 million in just a few days.
During the Binance Blockchain Week conference held in Istanbul, Binance made a big impact in the industry by introducing its Web3 wallet. This new wallet is designed for seamless interaction with the DeFi ecosystem and works with multiple blockchains, enabling activities such as staking, lending and borrowing.
However, there is one important detail about this new Web3 wallet. This wallet is only available through Binance’s native app. This may be challenging for users who do not have a Binance exchange account or prefer not to create one.
Web3 wallets like Binance’s are much more than just places to store digital assets. They are integral parts of the Web3 framework and provide individuals with greater control over their financial assets and activities in a decentralized digital environment.