A leading analytics firm is keeping a close watch on Trust Wallet Token (TWT) after the mid-cap altcoin skyrocketed 143% within seven days.
TWT is the native asset of Trust Wallet, a non-custodial app that allows users to have full control over their crypto assets.
According to Santiment, TWT started getting a lot of attention last week after the fall of centralized crypto exchange FTX, which left many traders scrambling to find safe protocols to keep their tokens.
While TWT has outperformed the broader crypto markets over the last few days, the insights firm says that on-chain signals are warning that a correction for the token is in sight.
Santiment highlights TWT’s on-chain transaction volume is “very high,” indicating that a “mid-term cooldown period” is within