Crypto Enthusiasts Highlight Trust Wallet Token Potential, $TWT Price Surges By 33%

The Trust Wallet Token (TWT) soared 33% in 24 hours, following increased community engagement and major announcements about its future utility. 

Binance founder Changpeng Zhao (@cz_binance) shared on X that TWT was initially just an experiment, and even though most of the supply was burned off very early on, the token had no utility then. 

He stressed that this is now changing as token use cases are expanding from the Trust Wallet team. 

Furthermore, Trust Wallet has announced a new litepaper, advertising TWT as the utility token for the Trust Wallet ecosystem. 

Trust Wallet even proclaimed the “wallet era has arrived,” which generated enthusiasm throughout the crypto community.

Community Leaders Highlight TWT’s Role in the Next Financial System

Industry figures quickly joined the discussion to highlight the importance of the news. 

Eowyn Chen, a prominent voice in Web3 adoption, wrote on X that “the next financial system will arise from access that is simple, invisible, and fully owned by users.” 

She also said that Trust Wallet is already the choice of over 210 million users worldwide and further emphasized that TWT is not just a token to use, but also a token for users to direct the wallet’s future. 

This was another expression of the broad narrative of self-custody, ownership, and empowerment in DeFi, which positions TWT as a utility and an engagement mechanism.

Also Read: Hyperliquid DEX Hits $1 Trillion Trading Volume Milestone & Introduces 20% Margin Ratio on Transfers

Expanding Token Utility to Strengthen Ecosystem

As described in the litepaper, TWT will transition from a utility token to the main engagement driver for Trust Wallet’s ecosystem.

Planned utility includes loyalty rewards for holding and locking tokens, added discounts on transaction fees, gas fee payment, and access to community events and governance functions.

The new strategy introduces a tiered model where users can unlock additional perks and benefits by increasing their TWT holdings and have greater engagement with other Trust Wallet products.

Ultimately, the goal is to create a flywheel that generates adoption, builds user loyalty, and creates additional on-chain activity.

TWT Token Distribution, Tokenomics, and Supply

TWT was launched in 2020 with a fair airdrop and no fundraising, adopting a community-first model similar to earlier meme coin distribution models.

Shortly after launching, an aggregate of 89 billion tokens were permanently burned directly from the supply, decreasing the total supply to 1 billion tokens. 

As of this point in time, the project has delivered an estimated 40% of the total supply into circulation in the past five years, mostly coming from community airdrops and loyalty programs.

The rest of the total supply has been deliberately reserved for opportunities for ecosystem growth, liquidity programs, community-formed partnerships, and incentives for the team.

Also, as we are not generating new tokens, this provides the project with a transparent and recently established scarcity-positive supply that provides confidence in ownership for its holders.

Also Read: Binance Alpha 2.0 Hits $386M Daily Volume Amid BNB Chain Surge

$TWT Market Momentum and Future Outlook

The litepaper has been well-received in the marketplace, as TWT has increased in price by 33.33% over the past 24 hours and 34% over the past week.

Notably, TWT token volume has increased to over $360 million, showing demand and validation of the token’s use cases. 

The ecosystem will continue to grow across multiple layers, including everyday finance, sophisticated trading, staking, and further innovations.

While there are still risks to consider within the volatile crypto market, the most recent developments lend credence to the notion that TWT will eventually become an essential asset within the Web3 wallet economy.

Also Read: ZORA Price Jumps Over 40% With Total Whale Wallet Accumulation Rising By 16% To $33.9 Million