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Binance Launches Web3 Wallet, TWT Crashes 19% 🔻😲
Just an hour ago, #Binance announced the launch of its first self-custody Web3 wallet during its ongoing #BinanceBlockchainWeek
This wallet works with 30 blockchain networks.
Immediately after this news, #TWT, which is the native token of Trust Wallet, started to crash, and so far it's down over 15%.
Why is $TWT Crashing?
To start, Binance acquired Trust Wallet in 2018, and since then, CZ has mentioned Trust Wallet numerous times on his X(Twitter).
With the launch of a new Web3 wallet, it seems like Binance will not be focused much on Trust Wallet, as Binance's new Web3 wallet interface is very similar to that of Trust Wallet and will work across 30 different blockchains.
Along with that, it can also be used for staking, lending, and borrowing.
At this point in time, it's unclear what will be the future of Trust Wallet, so until there is any statement from Binance or CZ regarding Trust Wallet, it would be better to not catch the falling knife.
#DYOR, #NFA
Just an hour ago, #Binance announced the launch of its first self-custody Web3 wallet during its ongoing #BinanceBlockchainWeek
This wallet works with 30 blockchain networks.
Immediately after this news, #TWT, which is the native token of Trust Wallet, started to crash, and so far it's down over 15%.
Why is $TWT Crashing?
To start, Binance acquired Trust Wallet in 2018, and since then, CZ has mentioned Trust Wallet numerous times on his X(Twitter).
With the launch of a new Web3 wallet, it seems like Binance will not be focused much on Trust Wallet, as Binance's new Web3 wallet interface is very similar to that of Trust Wallet and will work across 30 different blockchains.
Along with that, it can also be used for staking, lending, and borrowing.
At this point in time, it's unclear what will be the future of Trust Wallet, so until there is any statement from Binance or CZ regarding Trust Wallet, it would be better to not catch the falling knife.
#DYOR, #NFA
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