TWT Surges After Trust Wallet Extension V 1.9.1 Featuring Native EVM Swaps; Contango Introduces cPerps on Aave, Aiming to Tap $13B DeFi Derivative Market

Daily Top Performer — Trustwallet (TWT)

The SPX index is up 0.81%, due to decreased bond yields which alleviated interest rate worries, stemming from a weaker-than-expected ADP employment report. The broader cryptocurrency market is mixed, with Bitcoin rising 0.94% and Ether dropping 0.25% respectively, in the past 24 hours. 

Today’s outperformer is TWT, which surged 12.2% in the past 24 hours following the latest update of Trust Wallet Extension V 1.9.1 which features EVM Swaps, Cryptocurrency Purchases, and Ledger Support.

Trust Wallet (TWT), launched in November 2017, is a mobile-based decentralized crypto wallet that lets users manage, transfer, and receive various digital assets, encompassing cryptocurrencies and NFTs. Serving as the official wallet for Binance, it accommodates multiple blockchains and offers accessibility to decentralized apps (DApps). The control of private keys remains in the hands of the users, ensuring they maintain complete autonomy over their holdings. The latest update for the Trust Wallet Extension (V 1.9.1) is now available in the Chrome Store, featuring native EVM swaps, cryptocurrency purchases, and support for Ledger hardware.

Check Out the Latest Prices, Charts, and Data of TWTUSDT!

Talk of the Town:

Contango has launched futures contracts, known as Contango Perps (cPerps), built on Aave, a premier DeFi lending protocol. These contracts use "looped" lending via Aave flash loans to increase leverage, a technique representing over half of lending market volumes. Contango stands out by not taking the opposite side of trades. The firm aims to challenge centralized web3 platforms with its decentralized offerings and plans to integrate with other money market protocols. They believe this can tap into a $13B DeFi derivative market. An internal study suggested that cPerps fees are generally more stable and lower than those on major exchanges, though Aave's rates have been notably volatile in 2023.