A hot storage project highlighted by Binance CEO CZ continues its rally. After rising 80% following recent tweets, it managed to find support near the ATH level. Now it’s back on the scene with a new Binance announcement.
Binance continues altcoin rally pointed out by CEO
Changpeng Zhao (CZ) recently spoke out to dispel investor distrust caused by FTX’s bankruptcy. cryptocoin.com As you follow, Trust Wallet (TWT) has reached new heights after CZ’s statements. TWT token still maintains this momentum. At the time of writing, it is trading above $2, up over 2% from the last 24 hours. At this level, ATH price is just 20% below $2.71. Trust Wallet now remains on the agenda with additional news from Binance…
Binance Pay and Trust Wallet integration
The leading exchange announced new developments between Binance Pay and Trust Wallet in a new announcement on November 16. According to the announcement, Binance Pay is now fully integrated with Trust Wallet. This integration will allow users to enter the Web3 world more easily and seamlessly. Users can now transfer cryptocurrencies from Binance Fund Wallets to Trust Wallet apps with no withdrawal fees or the need to scan/enter a wallet address. The function is currently supported on Android. It will be available on iOS soon.
#Binance Pay is now integrated with @TrustWallet!
Through the Trust Wallet App, users will be able to transfer crypto to a self-custodial wallet seamlessly 🤝
Read more ⤵️
— Binance (@binance) November 16, 2022
What did CZ say?
With the clarification of FTX’s bankruptcy, the perspective of all cryptocurrency investors on centralized exchanges has changed. After that, we saw the exchanges publish proofs of their reserves to regain their trust. Meanwhile, CZ stressed the need for personal storage solutions. In some of his tweets, he featured Trust Wallet, the Binance-backed hot storage method:
We are not just a CEX. We offer choices.
Store crypto yourself? Read this article I wrote from 2 years ago. The 15 minutes read will save you money and headache later. @TrustWallet
Read the same article if you use a CEX, too. @binancehttps://t.co/Kp6VeKirgZ
— CZ 🔶 Binance (@cz_binance) November 13, 2022
Why is Trust Wallet at the forefront?
Trust Wallet is a non-custodial cryptocurrency wallet. Thanks to its easy use, it is one of the most convenient storage methods for new users. It currently supports a large number of cryptocurrencies, including Bitcoin, Ethereum, BNB, Litecoin and XRP. It was also in high demand, especially from the gaming world, as it offers a storage space inside NFTs.
By the way, Binance bought Trust Wallet two years ago. The exchange managed to reach 5 million users in a short time. Trust Wallet stands out especially with the bankruptcy of FTX. The main reason for the recent rally was CZ’s statements on Twitter. The storage method is integrated into BinanceDEX as well as token exchange platforms like Kyber.
