TWT Token Soars: CZ's Remarks Boost Trust Wallet's Token
Trust Wallet's TWT Token Sees Price Surge
Trust Wallet's TWT, the governance and utility token for the Trust Wallet ecosystem, experienced a surge of over 40% following remarks from Binance co-founder Changpeng “CZ” Zhao regarding the token’s evolving utility.
CZ commented on X, stating, “TWT token started as an experiment. The FDV got too high quickly. They burned 99% of the supply but didn’t have too many use cases for it. Now that’s expanding.”
Following CZ’s statement, TWT's price rapidly increased from approximately $0.89 to over $1.2. The token briefly touched $1.3 on Binance.
According to CoinGecko data, TWT is currently trading above $1.1, which is still down more than 50% from its all-time high of $2.7 in late 2022.
Trust Wallet's New Strategy
Trust Wallet recently unveiled a new strategy to enhance the utility and user engagement of the Trust Wallet Token (TWT). This initiative is detailed in a tokenomics litepaper that was released on Thursday. The team's objective is to strengthen TWT's role within its ecosystem through several key improvements.
Key Takeaways of the New Strategy:
- Tiered Loyalty Rewards: Implementing a system to reward active TWT holders.
- Improved Service Features: Enhancing the functionality and usability of Trust Wallet services.
- Community Incentives: Introducing programs to encourage greater participation within the Trust Wallet community.
With support for more than 100 blockchains, Trust Wallet aims to solidify TWT's position and drive user growth through these strategic enhancements. Platforms like Codeum, offering secure smart contract development and auditing, become increasingly valuable as ecosystems enhance token utility and drive innovation.