One of the leading cryptocurrency exchanges in Australia, Swyftx, announced that it has listed the native cryptocurrency of Trust Wallet on its platform on Tuesday. Besides making the Trust Wallet Token or TWT available for the Australian users, the development, of course, extends the accessibility of the crypto, which is big news for TWT holders.
Meanwhile, this is coming a few days after the exchange delisted two cryptocurrencies due to liquidity issues.
Swyftx Adds Support for TWT
The development was disclosed early Tuesday by the cryptocurrency exchange via Twitter. Going forward, the users will be able to purchase and sell the cryptocurrency right from the exchange. However, it seems users can only trade the cryptocurrency with the fiat currency (the Australian dollar) as no crypto-to-crypto trading pair was mentioned for the Trust Wallet Token.
Note that the TWT cryptocurrency is a utility token for Trust Wallet, a mobile cryptocurrency wallet application more suitable for BEP2, and Ethereum-based assets, like ERC20 and ERC721 tokens. The TWT crypto is also used as an incentive and governance token for the wallet platform, indicating that the most demand for the cryptocurrency should be from the wallet users.
Hence, TWT is likely to maintain a modest price performance as Trust Wallet gains more adoption and increase in user activity – this is not financial advice.
At the time of writing, the TWT cryptocurrency was trading at US$0.6281 on Coinmarketcap, with a 24-hour price change of 5.10 percent. From a circulating supply of 250,926,200 TWT, the token has a market capitalization of US$157,050,049 as of February 16.
Swyftx Sees More User Growth
Following the exchange’s tweets, the Trust Wallet Token is probably the second cryptocurrency listed on the platform since 2021. On January 5, the exchange announced the first coin listing to be Celo (CELO). CELO is a blockchain ecosystem that focuses on increasing the adoption of digital currencies among smartphone users.
On January 20, Swyftx reported a massive user growth last year, as well as its plans to introduce heavy infrastructure optimizations to support more growth in 2021.
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