Binance CEO CZ energized the altcoin market with his tweet commenting on a CNBC news today. He had previously triggered a similar activity with the posts he made after the bankruptcy of FTX.
This altcoin is back in motion with Binance CZ’s tweet
Documenting Bitcoin, one of the largest crypto Twitter communities, quoted a March 2022 CNBC report today as “the most important headline you will ever read.” CNBC’s report describes how a Ukrainian refugee crossed the Polish border with a USB containing 40% of his entire savings, or about $2,000 in Bitcoin.
Binance CEO Changpeng Zhao mentioned a Binance-backed hot storage wallet as a comment on the news. “It didn’t need the USB,” CZ said. He could use a cell phone wallet like Trust Wallet and Binance.” cryptocoin.com As we have mentioned, CZ has mentioned Trust Wallet many times before.
Meanwhile, a crypto enthusiast from Twitter suggested that the cold wallet Ledger is more secure. CZ replied, “Crossing a war zone boundary with a hardware device is risky. Easier to take away. Ledger is still a good device,” he commented.
Trust Wallet Token (TWT) rallies for the second time
Trust Wallet’s native token TWT peaked shortly after Binance CEO CZ’s tweets. It corrected slightly after touching the intraday high at $1.78. TWT is currently trading around $1.7. It peaked at $2.50, up more than 50% after CZ tweeted on November 14.
Trust Wallet powered by Binance
Trust Wallet is a decentralized wallet application that allows users to control digital assets such as cryptocurrencies and NFTs. It is also Binance’s official cryptocurrency wallet, with support for 65 Blockchains and access to over 4.5 million cryptocurrencies.
The wallet specifically allows users to control and access their cryptocurrencies. Unlike most central wallets, Trust Wallet includes access to DApps and allows users to securely interact with DApps on supported networks. In November, when FTX went bankrupt, CZ emphasized that users needed all these features and Trust Wallet was a custody solution that could meet it.
Based on Binance Smart Chain, Trust Wallet is powered by a proof-of-stake (POS) mechanism. It is also protected by a generous bug bounty program run by Binance that pays up to $10,000 in BNB to anyone who discovers a vulnerability in Binance Chain and its underlying smart contracts. Beyond that, TWT as a BEP-20 is protected by the security of the wallet software used to manage it.
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