Forget Bitcoin, Dogecoin — Investing In This Token Would Have Doubled Your Money In A Week Amid FTX Rout By Benzinga
© Reuters Forget Bitcoin, Dogecoin — Investing In This Token Would Have Doubled Your Money In A Week Amid FTX Rout
Benzinga – As users flee exchanges and turn to noncustodial wallets amid FTX (CRYPTO: FTT) collapse, Trust Wallet’s native token (CRYPTO: TWT) has rallied more than 100% in the past seven days.
What Happened: TWT, is presently up 17.88%, trading at $2.19 and now ranks as the 44th largest cryptocurrency in terms of market capitalization, according to CoinMarketCap.
See Also: Digital Securities
Apex cryptocurrency (CRYPTO: BTC) is up 0.10% over the past week, hovering around the $16,000-mark. (CRYPTO: ETH) and (CRYPTO: DOGE) are up 1.84% and 6.04%, respectively, in the last seven days.
The surge in TWT price comes after Changpeng Zhao “CZ”, the CEO of Binance, tweeted about the necessity of “self-custodial wallets”, contributing to the token’s drastic rise.
According to Santiment, TWT started getting a lot of attention last week after the fall of centralized crypto exchange FTX, which left many traders scrambling to find safe wallets to keep their tokens.
Price Action: At the time of writing, ETH was trading at $1,202.52, down 3.22% in the last 24 hours. DOGE at $0.085, down 3.22%, according to Benzinga Pro data.
Read Next: Bitcoin, Ethereum, Dogecoin Weak As FTX Fallout Fears Deepen — But This Trader Sees ‘Giant Opportunity’ To Stash Crypto
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