1 year ago
The autochthonal token of non-custodial wallet supplier SafePal (SFP) spiked 125.96% implicit the past week, according to CryptoSlate data. At the clip of writing, the token was trading astatine $0.743 — up 16.97% implicit the past 24 hours.
The token’s marketplace headdress much than doubled from astir $35.6 cardinal to $81 cardinal implicit the past week, according to Coingecko data.
Founded successful 2018 and backed by Binance, SafePal offers non-custodial bundle and hardware wallets, on with different related services. The platform’s inferior token SFP enables users to assertion bonuses connected SafePal’s gain and lend program, discounts connected SafePal products, and ballot connected governance proposals.
The “not your keys, not your coins” fever is driving growth
The illness of the crypto speech FTX has driven location the value of self-custody among investors. This has led to a record crypto exodus from centralized exchanges astatine the complaint of 106 Bitcoin (BTC) per month, Glassnode data indicates. Around 50,000 BTC, worthy astir $838 cardinal astatine existent prices, near centralized exchanges implicit the past week, Coinglass data shows.
SafePal is 1 of the beneficiaries of this crypto exodus arsenic investors are progressively looking to summation power of their assets. However, it is not the lone non-custodial wallet token to spot an uptick successful price.
Binance-owned Trust Wallet’s inferior token TWT has besides seen important maturation implicit the past week. The token’s terms registered a maturation complaint of 92.39% implicit the past week to commercialized astatine astir $2.25 astatine the clip of writing, according to CryptoSlate data. The token’s marketplace headdress accrued by astir $450 cardinal during the play to $941.21 cardinal astatine property time.
It is to beryllium noted that Trust Wallet’s terms maturation was accelerated erstwhile Binance CEO Changepeng Zhao endorsed it connected Twitter connected Nov. 13.
.@TrustWallet your keys, your coins. https://t.co/pJUc26kQ7n
— CZ 
Binance (@cz_binance) November 13, 2022
While some the non-custodial wallets are linked with Binance, the speech itself is defying the inclination of crypto leaving exchanges. Over the past 24 hours, implicit 94,400 BTC, worthy astir $1.5 cardinal astatine existent prices, flowed into Binance, according to Coinglass data.
It is to beryllium noted, however, that Binance was not the lone centralized speech to spot affirmative inflows of BTC implicit the past day, However, Binance saw the biggest inflow portion Coinbase, Kraken, Bithumb, and a fewer others saw inflows of little than 1,500 BTC each.
The station Binance-linked non-custodial wallet tokens spot monolithic maturation implicit the past week appeared archetypal connected CryptoSlate.
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