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  • Writer's pictureDavid Manion

TWT Price is Down 24% to $1.6 – Will it Lose All This Year’s Gains?

TWT price prediction turned bearish on Saturday, following a bearish cross under major support at $1.847, a level extended by the 50-day moving average. On December 17, TWT/USD opened the day at $1.7343, reaching a high and low value of $1.7437 and $1.2533, respectively.

TWT/USD is currently trading at $1.61, a 16% drop in the last 24 hours. At the same time, the value has dropped by more than 38% in a week.

TWT Benefited from the FTX Collapse

Trust Wallet Token (TWT) is the native token of Trust Wallet. It is one of the tokens experiencing the most rapid growth this year. Also, the failure of the cryptocurrency exchange FTX the month before made TWT/USD more valuable.

For those who are unaware, the price of TWT nearly tripled following the decline of FTX as investors transferred their cryptocurrency holdings from exchanges to Trust Wallet. TWT attracted positive sentiment and a significant infusion of capital as its price rose steadily.

Furthermore, the latest drop could be the result of investors taking profits and continuing concerns about the crypto market in the aftermath of the FTX crash. Cryptocurrency investors are also aware of Sam Bankman-arrest. Fried’s

By riding the FTX decline to record highs in November, Trust Wallet outperformed many other cryptocurrencies. Binance CEO Changpeng Zhao promoted self-custody and encouraged users to use Trust Wallet, which aided the token’s rise.

But recent worries about the Binance cryptocurrency exchange are not good for tokens like TWT that are connected to it.

Binance FUD

Binance, the world’s largest exchange, is currently dealing with a number of issues, including a suspected money laundering investigation and a significant increase in user withdrawals since the weekend. The exchange is also riding a wave of FUD (fear, uncertainty, doubt). Due to allegations of poor financial management, the world’s largest cryptocurrency exchange has begun to worry the industry.

During the last 24 hours, the global value of all cryptocurrencies has decreased by approximately 2.50%. As of this writing, the market value of cryptocurrencies is $805.86 billion. The drop corresponds to the drop in the NASDAQ over the same time period.

Furthermore, Binance-based cryptocurrencies such as TWT/USD have seen their values fall as a result of the market’s ongoing Binance FUD.

Trust Wallet Integrates THORChain

Trust wallet has now included THORchain’s technology to support cross-chain cryptocurrency swaps in the app, according to a Medium blog post published on December 14. The feature will eliminate the need for fee-free swaps between blockchains via fiat onramps or difficult cross-chain exchanges.

The collaboration will give the wallet’s 10 million users access to cross-chain swaps between Bitcoin, Ethereum, Binance coin, and the wallet’s native currency, Trust Wallet token (TWT). The feature will be available on Android and iOS in the near future.

Users will not be required to sign up for the function. The protocol will hold swaps on native blockchains, removing the need for bridging or wrapping, which frequently introduces additional risks.

The protocol calculates the fees paid to chain validators based on the trade size. Because of the new feature, users will be able to easily trade currencies between blockchains.

When users escape from centralized exchanges, decentralized protocols provide a safe haven for them to trade without relying on third parties. However, there is a chance that hackers will exploit loopholes in Smart contracts and steal money. TWT/USD may also rise once the feature is activated.

TWT Price Prediction – Daily Technical Levels

Support Resistance

1.5436 2.0537

1.3436 2.3638

1.0335 2.5638

Pivot Point: 1.8537

TWT Price Prediction

TWT is gaining immediate support at $1.3110, a level that is being extended by an upward trendline. Overall, the trading bias is bearish, as the “three black crows” candlestick pattern indicates a strong selling trend. As a result, a break below $1.311o may allow for more selling until $1.0165. While resistance at $1.847 remains unchanged.

Due to the fact that TWT and other altcoins are under selling pressure, there are few altcoins with massive upside potential.

Dash 2 Trade (D2T)

Dash 2 Trade, a professional trading intelligence platform, raised $10 million in its presale. The project announced today that once the token sale reaches $10 million, a countdown to the project’s first controlled exchange listing will begin.

Dash 2 Trade guarantees a CEX listing within 30 days of reaching the $10 million milestone, or when the stage 4 presale is completed, whichever comes first. Changelly Pro joins LBank and BitMart as the first centralized exchanges to commit to listing the token immediately after the presale closes, according to the announcement.

The platform’s native token, D2T, will be used to pay for platform services and participate in community activities and tournaments. Over $10 million has already been raised through the sale of cryptocurrency.

Calvaria (RIA)

Calvaria defies traditional pay-to-win gaming by giving customers NFTs as soon as they sign up. As a result, no financial or technological resources are required for game participants. Calvaria’s early-round crowdfunding piqued investors’ interest. The first four stages of its presale were quickly sold out, and stage five is about 80% sold out.

Investors who want to buy 30.77 RIA tokens for USDT 1 must act quickly because the presale is ending soon. Since the presale began, Calvaria has raised approximately $2.4 million. When stage 5 is completed, the total project funding will be $3,075,000.

FightOut (FGHT)

FightOut is a new earn-while-you-move platform that rewards users for completing workouts. While other M2E platforms exist, FightOut has taken a unique approach by lowering the entry barrier for Web2 users. In addition, all users are familiar with the platform. The FightOut pre-sale is still in its early stages.

During the presale, 1 FGHT token costs $0.01665002. The team does not intend to raise the presale fee at this time, but it may do so in the future. The presale has a hard cap of $100 million, and more than $2 million has already been raised.

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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