Liquidity crunch with FTX exchange resulted in an opportunity for Trust wallet.
Trust wallet is a decentralised crypto wallet & trade platform. With the help of third-party Defi exchanges, Trust Wallet users can easily trade their digital assets. In 2018, Binance acquired this decentralised wallet service, which was founded by Viktor Radchenko.
Trust Wallet Token (TWT) is a native token of the Trust Wallet and the current price of this token is $2.33 & this price is 100% high over the last 7 days of trade price.
This rapid increment in the price of TWT token happened because of the inflow of huge numbers of traders in the Trust Wallet ecosystem.
Around a week ago, the Binance vs FTX controversy acted as a catalyst to bring the reality of back-end fund management of the FTX exchange and this thing further resulted in the collapse of the FTX exchange.
In the present time, the majority of crypto investors are not ready to trust any centralised crypto platform.
In this situation, Binance CEO Changpeng Zhao also suggested crypto traders adopt decentralised crypto wallets to remain away from any kind of centralised power abuse. In particular, he suggested his followers use Trust Wallet, as another decentralised service of the Binance exchange.
On 14 November, the Trust Wallet team released a Browser extension to access the trust wallet without any need for the application.