Trust Wallet’s native token (TWT) fell 7% after Binance, the exchange that acquired Trust Wallet in 2018, released its own competing Web3 wallet.
The token is currently trading at $1.49, dropping 7% over the past 24 hours, according to CoinMarketCap.
The wallet was acquired by Binance in 2018 in a deal that included a mixture of cash, Binance stock and a portion of BNB tokens, according to TechCrunch. The value of BNB in July 2018 was $14.80, now trading at $244.
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Trust Wallet is a product that lets users store and use cryptocurrencies across the decentralized finance (DeFi) ecosystem. Binance’s newly unveiled wallet is
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