The Trust Wallet's token (TWT) has seen a significant surge in its price, breaking from its previous downward trend. The altcoin observed a substantial over 20% upswing within two days, ascending from $0.81 to $0.98. This price movement was triggered by an enigmatic tweet posted by the Trust Wallet team on Tuesday, stating "The countdown has begun" and using hashtags #FreedomFoundations and #TrustYourself. The tweet, despite its ambiguity, incited speculation and heightened expectations among market participants.
On Friday, TWT was trading at $0.964 after experiencing a 7.29% rise in the last 24 hours. This price movement is being closely scrutinized alongside economic data from the USA.
The surge in TWT's price marks a considerable reversal of its previous downward trend which had been a challenging obstacle for the altcoin. Market analysts highlighted this break as significant, pointing out that it occurred as Bitcoin labors to break the $28,000 mark within a constricted trading range.
In other cryptocurrency news, Bitcoin's recent surge to ¢24,412 and its solid performance in September - starting at $25,900 and closing just below $27,000 (a 3.9% gain), has led experts to predict an October boom despite a minor 0.50% dip this week.
Bitfinex analysts are among those predicting a bullish outlook for Bitcoin, supported by the 6.1% increase in the combined crypto market cap last month. The Bitfinex Alpha report indicates that the crypto options market is anticipating higher market volatility with implied volatility surpassing historical volatility, suggesting an increased amount of price swings. Bitcoin's stability is credited to its long-term holders' confidence as they prepare for these potential swings.
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