Far from all, cryptocurrency wallets have their own native tokens. One of those that do is the Trust Wallet. In this article, we'll explore the Trust Wallet Token and its price predictions and provide you with information to help you answer the question: is Trust Wallet Token a good investment or not?

What is the Trust Wallet Token (TWT)?

Trust Wallet Token (TWT) is the native token of the popular non-custodial software crypto wallet Trust Wallet, backed by the Binance crypto exchange.

Because we didn't have money to give away to people, we thought, okay, we're just going to create a token that doesn't have any value, so we can just give it away to people. That was the initial idea, but then it just took off. In terms of usage, people wanted to refer friends. And then we used it well in terms of growth for the product. – Viktor Radchenko, Founder and former CEO of Trust Wallet.

The history of Trust Wallet Token

Trust Wallet was founded in 2017 by Viktor Radchenko, co-founder of Trucker Path, a company that created a popular app for logistics and trucker companies. In July 2018, Trust Wallet was acquired by Binance, which made it the official non-custodial wallet of the Binance ecosystem. Viktor Radchenko remained as part of the team working on the wallet.

Trust Wallet Token was launched as an experiment by the Trust Wallet team to incentivise loyal users and grow the community. It was originally issued as an ERC-20 token on the Ethereum blockchain but later migrated to the Binance Smart Chain.

The initial amount of tokens issued was 90 billion. However, after the developers saw that less than 1% of tokens were in circulation, they decided to burn 89 billion tokens.

The developers didn't hold an ICO of the token. Until 2020, TWT couldn't be bought on the exchange. It was distributed for free among the community. In the summer of 2020, the token was listed on Binance.

In 2021, after the project transitioned to a DAO governance model, the developers added governance functionality to the token.

In March 2022, Viktor Radchenko stepped down as the project's CEO. He was replaced by Eowyn Chen, the former Head of Central Marketing and Growth team of Binance.

Trust Wallet Token's features

Trust Wallet is one of the most popular crypto wallets. Trust Wallet Token (TWT) is the native token of the Trust Wallet ecosystem. It exists as a BEP-20 token on Binance Smart Chain and as a BEP-2 token on Binance Chain.

Since TWT runs on Binance Smart Chain, transaction fees and confirmation times of the token's transactions are very low.

TWT has the following main uses:

1. Participation in governance. Voting on adding new features or other changes.
2. Discounts. Discounts on Binance DEX services and in-app purchases of cryptocurrency.

How to buy and sell Trust Wallet Token

TWT is currently listed on many cryptocurrency exchanges, so it's not difficult to buy or sell it. Alternatively, it can also be bought in the Trust Wallet app itself.

Trust Wallet Token (TWT) price analysis

As of 17 August 2023, the TWT token ranked 90th among cryptocurrencies by market capitalisation at $360,190,780.

TWT price statistics (as of 17/08/23)

TWT's price history

After listing on crypto exchanges, TWT's price was in an uptrend for a long time despite periodic deep corrections. However, after a sharp rise in November 2022 and reaching an all-time high on 12 December 2022, the price fell just as sharply, and a bearish trend began. On 10 June 2023, the price reached a local low, after which it started a sideways movement in the $0.82 - $0.98 range.

TWT/USDT price chart

TWT technical analysis

Despite breaking the downtrend on 24 July, the price continues to move sideways. Moving Averages and MACD indicate weak bearish sentiment. In addition, a local descending channel has formed on the chart.

The nearest support levels are $0.82, $0.71 and $0.55. The nearest resistance levels are $0.98, $1.05 and $1.35.

Trust Wallet Token (SAND) price prediction 2023

A distinctive feature of TWT is that its price movement is largely independent of the general state of the crypto market. The growth of the crypto market has no noticeable positive impact on this token's price and vice versa.

At the same time, TWT's price hasn't shown a positive trend for more than half a year. Interest in the token may increase if the developers expand its utility or are under the influence of any external factors that will increase the relevance of non-custodial crypto wallets. Otherwise, it's more likely that the token's price will continue to decline or move sideways.

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Trust Wallet Token (TWT) crypto price prediction for 2023, 2025, 2030 and 2040

As usual, we have compiled for you the TWT price predictions made by popular forecasting services.

Wallet Investor's TWT price prediction for 2023, 2025, 2030 and 2040

Wallet Investor predicts slow growth in TWT's price over the next few years. They believe the price will reach $1.002 at the end of 2023, $1.143 at the end of 2024, $1.293 at the end of 2025 and $1.584 at the end of 2027.

CoinCodex's TWT price prediction for 2023, 2025, 2030 and 2040

CoinCodex agrees that the price will rise but expects a faster rate. According to them, it'll be in the range of $0.79 to $1.74 in 2024, $1.50 to $5.36 in 2025 and $3.92 to $4.97 in 2030.

Changelly's TWT price prediction for 2023, 2025, 2030 and 2040

Changelly believes the average price will be $0.93 in 2023, $1.36 in 2024, $2.09 in 2025, and $13.58 in 2030.

DigitalCoinPrice's TWT price prediction for 2023, 2025, 2030 and 2040

DigitalCoinPrice expects the price to reach $1.90 at the end of 2023, $2.13 at the end of 2024, $3.12 at the end of 2025 and $8.88 at the end of 2030.

Gov Capital's TWT price prediction for 2023, 2025, 2030 and 2040

Gov Capital's forecast is, as usual, very optimistic. The token's price might reach $2.62 in a year and $13.46 in 5 years.

Price Prediction's TWT price prediction for 2023, 2025, 2030 and 2040

Price Prediction also believes that the token's price will rise in the coming years. According to their calculations, the average price of the TWT token will be $1.13 in 2023, $1.65 in 2024, $2.47 in 2025, and $15.84 in 2030.

CryptoPredictions'TWT price prediction for 2023, 2025, 2030 and 2040

CryptoPredictions' forecast isn't as optimistic as those of their peers. According to their estimates, the token's average price will be $1.17 at the end of 2023, $0.89 at the end of 2024, $0.93 at the end of 2025, and $1.10 at the end of 2027.

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Trust Wallet Token (TWT) overall future value predictions

Is Trust Wallet Token a good investment?

The future of TWT is still hazy and largely up to the developers. The token has a good potential for growth if they increase its utility.

The main advantages of this crypto asset:

• The popularity of Trust Wallet. s one of the most popular crypto wallets with a large user base.
• Backed by Binance. Trust Wallet is backed by Binance, one of the leading players in the crypto industry.
• High speed and low fees. Thanks to the Binance Smart Chain, transactions are very fast, and fees are low.

At the same time, the token has some weaknesses that negatively affect its prospects:

• Limited utility. The token has limited utility, which decreases interest in it.
• Lack of a clear roadmap. An official roadmap for the token hasn't yet been published.
• Dependency on Trust Wallet ecosystem: TWT's future is closely tied to the success and growth of the Trust Wallet platform. Any challenges, technical issues, or changes in users' sentiment regarding Trust Wallet can impact TWT's value.
• Token dilution. Currently, only 41.66% of the maximum token supply is in circulation. The introduction of additional tokens into circulation will cause a price drop.

How high can the TWT coin go?

It's difficult to answer that question at this point. In case the developers noticeably increase the token's utility, the price may well exceed its current all-time high.

Trust Wallet Token (TWT) price prediction today

At the moment, the price is moving in a local descending channel, and the sentiment is weakly bearish. The most likely scenario in the near future is movement along the channel's lower boundary. In case of a breakdown of the channel's lower boundary, the nearest target is $0.82.