Trust Wallet Token (TWT) and 1inch (1INCH) have been making waves in the crypto market this week. After a brief sell-off at the beginning of the week, both tokens are now showing signs of a strong recovery on Friday. This renewed momentum can be attributed to increased user interest and trading volume, as revealed by on-chain data.
Let’s take a closer look at TWT and 1INCH and see what’s driving their recent surge.
Trust Wallet Token (TWT) is the native token of Trust Wallet, a popular mobile cryptocurrency wallet that allows users to securely store, send, receive, and exchange a variety of cryptocurrencies. The token was first launched in 2019 as an ERC-20 token on the Ethereum blockchain.
On the daily chart, TWT has been on a steady uptrend since the beginning of the year, with its price increasing from around $0.15 to its current price of $0.48. After a brief dip earlier this week, TWT has bounced back and is now trading at a higher level than before.
Meanwhile, 1inch (1INCH) is the native token of the 1inch Network, a decentralized exchange aggregator that sources liquidity from various decentralized exchanges to offer users the best possible rates for their trades. 1INCH was launched in December 2020 and has quickly gained popularity among traders.
Similar to TWT, 1INCH has also been on an upward trend since the start of the year, with its price rising from around $1.50 to its current price of $5.20. Like TWT, 1INCH also experienced a dip earlier this week but has since recovered and is now trading at a higher level.
What’s causing this renewed bullish momentum for both TWT and 1INCH? The answer lies in the on-chain data.
According to Santiment, a leading on-chain data provider, both TWT and 1INCH have seen a significant increase in their trading volume over the past few days. This is a strong indicator of renewed interest from users, which is often a bullish signal for a cryptocurrency.
In addition, the number of daily active addresses for both tokens has also been steadily increasing. This means that more people are using these tokens for transactions, which is another positive sign for their long-term growth.
The recent developments surrounding Trust Wallet have also contributed to the overall positive sentiment towards TWT. Last week, Trust Wallet announced that it had integrated Binance Smart Chain (BSC) into its platform, allowing users to access BSC’s DeFi ecosystem directly from their Trust Wallet app. This move has not only increased the utility of TWT but has also attracted new users to the platform.
Similarly, 1inch has been making headlines with its recent partnership with Ethereum scaling solution, Polygon. This partnership will allow 1inch users to access cheaper and faster transactions on Polygon, making it a more attractive option for traders.
Overall, it’s clear that both TWT and 1INCH are gaining momentum in the market, and the recent sell-off at the beginning of the week seems like a distant memory now. As more people discover the potential of these tokens and their underlying platforms, we can expect to see even more growth in the coming weeks and months.
In conclusion, Trust Wallet Token (TWT) and 1inch (1INCH) are showing strong signs of a short-term recovery on Friday, with their prices on a steady uptrend. The increase in trading volume and user interest, as revealed by on-chain data, are strong indicators of a bullish sentiment towards these tokens. With recent developments and partnerships surrounding these tokens, it’s safe to say that the future looks bright for TWT and 1INCH. As always, do your own research before investing in any cryptocurrency.
