What happened?
Leading non-custodial wallet, Best Wallet, raised over $16 million in its presale, ahead of notable crypto wallets exploring their token launches. Best Wallet’s native token, BEST, provides benefits including reduced fees and staking aggregator yields. This success indicates a trend of crypto wallets moving towards having their own tokens.
Who does this affect?
This development primarily affects users of web3 wallets, such as MetaMask, Coinbase’s Base network, and Rainbow, who are also preparing to roll out native tokens. Early adopters investing in the Best Wallet’s presale are directly impacted, as well as the broader crypto market that is showing support for wallet tokens.
Why does this matter?
This trend matters as it could change the landscape of web-based crypto wallets by encouraging them to offer tokens of their own. This creates new opportunities for investors while enhancing the functionality and value of these wallets. The move can potentially boost decentralization, accelerate ecosystem growth, and provide unique benefits to users, influencing the overall crypto market.