This Article does not provide financial advice. No one can predict future with absolute certainty.
Trust Wallet Token in governance and utility token developed to help users access myriad digital assets. It has inbuilt DEX and is available on both Binance Chain and Binance Smart Chain. DEXs such as Uniswap allow investors to buy exchanges and hold their cryptocurrencies under a single platform interface.
The multi-currency crypto wallet has an open-source modules design that allows developers to build DApps and Wallets natively. Additionally, the mobile app also has fiat onboarding that allows users to purchase cryptocurrencies using credit cards. Currently, the Trust Wallet supports 16000 assets in over 40 blockchains networks such as Binance smart chain, Bitcoin and Ethereum.
Viktor Radcheko developed the initial Trust Wallet Token app in November 2017. The idea was sparked by the interest to manage his ERC tokens participation in several ICOs. Soon after launch, the app experienced massive demand. By March 2018, a small team worked full time to enhance the features and deal with support requests. In July 2018, Binance acquired the Trust Wallet token. Rodchenko continues heading the trust wallet as an autonomous unit. In 2020, it was among the top ten most downloaded cryptocurrency apps ranking sixth.
Trust Wallet Token started trading on July 31st, 2020, at the price of $0.007405, according to the Coin Market Cap’s Trust Wallet Token price chart. It experienced growth like other cryptos towards the end of the year, eventually breaking the $ 0.1 mark in October to reach a high of $0.1406. The price then fell, trading below this heigh until late January when it proliferated, hitting $0.04227 on 27th January before eventually reaching $0.87 on February 19th.
The bears then took control of the market before the market started to experience rises and falls characterised by any instruments. However, the price rose to an all-time high of $1.0766 on the 2nd of the market. Eventually, the Trust wallet plummeted and is now ranging between $0.29 to $0.37.
Trust Wallet Token currently ranks number 311 on Coin Market Cap with a market capitalisation of $92 047 214.
Now the arising question is whether the Trust Wallet token is a good investment. The token is currently trading at $0.3674. Well, according to Wallet Investors, TWT is an “awesome” investment. The cryptocurrency prediction site predicts that the price could reach $1.0002 in the next year with a long-term earning potential of 173%.
The site expects the price to reach $3.609 in the next five years. The virtual currency has a positive outlook, making it great for investing. The price of the Trust wallet token is expected to reach a maximum of $0.805 at the end of the year. This contrasts with the Trading Beasts forecast, which expects the cryptocurrency to hit a maximum of $0.5661756.
According to Wallet Investor’s 2022 projections, the Trust Wallet Token will open the year with an average price of $.0620, with the price ranging between $0.381 and $0.913 throughout the month. The token’s maximum price of the day is expected to cross $1 in mid-March eventually.
In June, the prediction site expects the price to range between $0.656 and $1.191. The uptrend is expected to continue in July. According to the projection, the token is expected to range between $0.693 and $1233. The price is forecasted to average $0.999 at the end of the month, decentralised almost threefold of the current price. In contrast, Trading Beasts projects the cryptocurrency to range between $0.38856 and $.057142 and average $0.45713.
The token is expected to average $1.008 and $1.065 in August and experience gradual growth through the rest of the year. The token average is expected to trade at $1.225 at the beginning of December and average between $0.977 and $1.511 throughout the month. The token is forecasted to close the year at an average price of $1.273. On the other hand, trading beasts estimate that the price will range between $0.3973313 and $0.5843 in December.
The price increase is expected to continue in 2023. As per Wallet Investor forecasts, the virtual token is expected to start the year trading at an average price of $1.27. In January, the price is expected to average between a minimum price of $1.039 and $1.590.
The price is expected to increase in the following month of February, with the daily average price ranging from $1.335 to $1.385. The uptrend is expected to continue up to mid-year, closing the month of June at a maximum price of $1.852. According to the site’s prediction, the virtual currency will trade at an average price of $1.600 in July. In the same month, the price will average $1.362 and $1.911. However, Trading Beast predicts the price of the Trust Wallet
Token to average between $0.5106 and $0.7509 in July 2023. Wallet Investor forecast the price of the virtual token could cross the $2 in September. The price is expected to hit an average price of $1.875 in December. Through the last month of 2023, the price will average between $1.628 and $2.151. According to Wallet Investor, the bull run of trust wallet tokens will continue in 2024. The digital token is expected to start trading at an average price of $1.937.
The price will average between $1.690 and $2.237. However, Trading Beasts Projections show that the virtual token will average $0.6890 in January 2024. The bull will dominate the market and cross the $2.5 mark in June 2024. The average opening price of a Trust wallet is expected to be $2.264 and range between $2.2021 and $2.569. In December 2024, the average opening price of virtual currency is expected to be $2.531. The price is predicted to range between $2.302 and 2.822. As per trading Beast, the projected digital token average price in December 2024 is $0.8131.
The price of the Trust Wallet Token is consolidating on the daily time frame. According to chart data, the price is ranging between $0.25 and $0.40. However, the price is on a sharp uptrend from 20th July. If the price breaks above the resistance area, the price will likely experience a bull run to 0.6636. The uptrend could continue to $1.00 if the bull maintains control of the market.
On lower 4-hour and 1 hour time frames, the price is on a rising wedge formation. The raining wedge is approaching an area of resistance. Typically, this is a sign of impending price reversal. Therefore, the price is likely to reverse after hitting the resistance zone. However, if the bull gains control of the market, we could see a breakout upwards.
The Wallet Token massive adoption is neigh. What could cause demand in the virtual currency? First, the digital token features a decentralised exchange and is integrated with decentralized Apps. It gives access to DeFi features, such as staking. The token’s major uses include internal governance, provide discounts on wallet services. It is also a good source of income. Essentially, it earns staking rewards for decentralised applications.
These numerous uses project the token as a cryptocurrency of the future. Currently, it has incredible demand adoption with over 10 million downloads in the Google Play store. The best part is that it is not limited to the storage of cryptocurrency assets. It has other features such as coin exchange, staking, and coin exchange, making it a valuable ecosystem.
Thanks to its impressive features, the trust wallet token is likely to interest many people and boost its growth potential. As more people understand and appreciate what it has to offer, the demand and price, in turn, are likely to increase. That said, government regulations and institution adoption will also play a crucial role in its growth.
Trust wallet token is a relatively new cryptocurrency but has gained insane traction in the past few months. Unlike many virtual tokens, Trust Wallet Token uses go beyond the borders of crypto space. Besides transacting and investment, the cryptocurrency also offers numerous other features and functionalities. For instance, it can be used for governance. In the near future, the trust wallet could rise to compete in the league of top cryptos, likely bitcoin and Ethereum.