The native token of non-custodial pockets supplier SafePal (SFP) spiked 125.96% over the previous week, in response to CryptoSlate knowledge. On the time of writing, the token was buying and selling at $0.743 — up 16.97% over the previous 24 hours.The token’s market cap greater than doubled from round $35.6 million to $81 million over the previous week, in response to Coingecko knowledge.Based in 2018 and backed by Binance, SafePal gives non-custodial software program and {hardware} wallets, together with different associated providers. The platform’s utility token SFP allows customers to say bonuses on SafePal’s earn and lend program, reductions on SafePal merchandise, and vote on governance proposals.The “not your keys, not your cash” fever is driving growthThe collapse of the crypto alternate FTX has pushed house the significance of self-custody amongst buyers. This has led to a report crypto exodus from centralized exchanges on the fee of 106 Bitcoin (BTC) monthly, Glassnode knowledge signifies. Round 50,000 BTC, value round $838 million at present costs, left centralized exchanges over the previous week, Coinglass knowledge exhibits.SafePal is likely one of the beneficiaries of this crypto exodus as buyers are more and more trying to achieve management of their belongings. Nonetheless, it’s not the one non-custodial pockets token to see an uptick in worth.Binance-owned Belief Pockets’s utility token TWT has additionally seen important progress over the previous week. The token’s worth registered a progress fee of 92.39% over the previous week to commerce at round $2.25 on the time of writing, in response to CryptoSlate knowledge. The token’s market cap elevated by round $450 million throughout the interval to $941.21 million at press time.It’s to be famous that Belief Pockets’s worth progress was accelerated when Binance CEO Changepeng Zhao endorsed it on Twitter on Nov. [email protected] your keys, your cash.— CZ 🔶 Binance (@cz_binance) November 13, 2022While each the non-custodial wallets are linked with Binance, the alternate itself is defying the development of crypto leaving exchanges. Over the previous 24 hours, over 94,400 BTC, value roughly $1.5 billion at present costs, flowed into Binance, in response to Coinglass knowledge.It’s to be famous, nevertheless, that Binance was not the one centralized alternate to see optimistic inflows of BTC over the previous day, Nonetheless, Binance noticed the largest influx whereas Coinbase, Kraken, Bithumb, and some others noticed inflows of lower than 1,500 BTC every.Get an Edge on the Crypto Market 👇Grow to be a member of CryptoSlate Edge and entry our unique Discord neighborhood, extra unique content material and evaluation. On-chain evaluation Worth snapshots Extra context Be a part of now for $19/month Discover all advantages

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