Trust Wallet Token (TWT) Surges 20%+: Here’s Why

Trust Wallet, a popular cryptocurrency self-custody hot wallet, which was acquired in 2018 by Binance and boasts more than 70 million downloads, has seen its native token, TWT, surge more than 20% over the last week. The token has led gains across the digital asset sector, with all other tokens in CoinMarketCap’s top 100 seeing single-digit increases at most.

But what’s behind TWT’s bullish spree?

A Simple Rumor…

Social media pundits and analysts are pointing to a yet undisclosed announcement, teased by Trust Wallet’s X/Twitter account, as the primary driver behind the TWT token’s surge.

On October 4, Trust Wallet’s account posted a single (now-pinned) Tweet, with the caption “The countdown is on”, accompanied by the hashtags #FreedomFoundations and #TrustYourself.

Naturally, speculation as to what the announcement could hold has arisen on social media, with some pundits suggesting the release of a hardware wallet to accompany the pre-existing hot wallet. However, with no further details currently offered by the platform, some community members may be expecting Trust Wallet to release its own L1 or L2 blockchain network.

Ostensibly, Trust Wallet has so far offered no additional details or teasers, but this has not stopped cryptocurrency speculators from purchasing the TWT token and driving up its price.