Category : Crypto tokens

After layer 2 migration to the Polygon network, 300% gain for Telcoin (TEL)

One of the original motivations behind Bitcoin (BTC) was the ability to send money to anyone, anywhere, at any time. This has helped create the growing cryptocurrency ecosystem that exists today. Global remittance platforms based on blockchain are a sector of crypto projects that have evolved over time to meet the needs of peer-to-peer money transfers.

And here Telcoin (TEL) is one such project that has made remarkable gains in 2021. Telcoin’s price is up more than 4,100% since February 1, from a low of $ 0.00066 to a new high of $ 0.0286 on May 5 when the altcoin saw a record $ 110 million in 24 hours trading volume. Thus, data from Cointelegraph Markets Pro and TradingView shows. Best crypto Indonesia is popular.

The rally has been set ablaze by the shift to global remittances

The project recently launched an upgraded protocol that will allow remittance services between the Philippines and Canada to go live on Feb. 4. For example, a scroll through Telcoin’s Twitter feed shows. V2 included new versions of both iOS and Android mobile applications. Users in participating jurisdictions can download it from the Apple and Google Play Store.

Canada is the first of the first four shipping markets to enter Telcoin for fiat remittances, according to the Telcoin team. In addition, Canada will soon be followed by Singapore, Australia and the US. When Telcoin CEO Paul Neuner appeared before the Nebraska State Legislature to talk about opportunities in the fintech space and how the state could benefit from legislation aimed at making Nebraska a decentralized financial center, the project got more attention at the end of February.

TEL price taken to new highs by layer 2 trading

The TEL award received a dose of rocket fuel after trading sideways for most of March and April. The reason was that the token was listed on the decentralized QuickSwap exchange that runs on Polygon, a layer 2 protocol built on the Ethereum network. Probably, the lower fee environment of the Polygon network and the attractive return opportunities for liquidity providers on QuickSwap have led to the surge in trading volume for TEL.

Market conditions for TEL have been favorable for some time, according to data from Cointelegraph Markets Pro. The Cointelegraph-exclusive VORTECS ™ Score, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity. Portugal cryptocurrency is popular.

The VORTECS ™ score for TEL was boosted after launch on QuickSwap, initially bringing the price above $ 0.01. About two days before the price rose 84% to a new high on May 5, the score continued to rise, reaching a high of 95 on May 3. Telcoin has the potential to attract a wide variety of global users.

With a globally relevant use case that now works in a low-cost, low-2 environment. The TEL award can be further appreciated as blockchain technology expands its usual presence and new entrants look for cheaper ways to transfer money and make payments.

Bitcoin tests resistance but corrects again, ethereum and polkadot lead the way and rise sharply

The cryptocurrency market picked up a bit yesterday, but this morning many prices are correcting back down. Despite this, most crypto is still in the green today and its market cap has risen from $1.60 trillion to 1.67 trillion.

Bitcoin (BTC)

Bitcoin (BTC), after peaking at $42,650 last weekend, fell all the way back to $37,700 yesterday. Then the price started to rise again and came to $40,000 shortly after midnight. However, Bitcoin was rejected there and the price has since been in a downward trend again. At the time of writing, bitcoin is below $39,000, but is still 3% in the plus today.

It looks like bitcoin may be correcting back to $38,000 and it is hoped that this support will hold up again, otherwise the price may drop a lot further. Hopefully the price will make a new higher low sooner and we will see a retest of the $40,000 soon. Where normally bitcoin takes the lead in the market, ether now seems to have the upper hand. Bitcoin dominance drops below 44% today. Holo HOT is well known in crypto.

Ethereum (ETH), cardano (ADA) and more

Ethereum (ETH) also surged from $2,470 yesterday to a high of $2,750 shortly after midnight. Unlike bitcoin, ether barely corrected lower last night and the price seems to be holding around USD 2,700 for the time being. Ether is therefore still 8% in the plus today and that most likely has to do with the upcoming ‘London’ update. It is estimated that the hard fork will take place around 3 o’clock this afternoon. However, there are fears in the market that this will become a “buy the rumour, sell the news” effect and that the price may correct downwards again after the update.

Most of the other altcoins in the top 10 seem to roughly follow the pattern of bitcoin. Binance coin (BNB), cardano (ADA), ripple (XRP) and dogecoin (DOGE) all rose strongly yesterday but are now also correcting downwards. They are all still about 2.5% in the plus at the time of writing. Shiba inu SHIB is well known in crypto.

Polkadot (DOT), on the other hand, is still holding up after last night’s rise. The DOT price is therefore currently more similar to the price trend of ether. DOT peaked around $19.50 twice last night and this morning and is up 9.5% today and 50% from two weeks ago.

Outside the top 10, several races are gaining momentum. Monero (XMR) is 8% in the plus, elrond (GLD) 8.5% and solana (SOL) 9%. It is mainly decentralized finance (DeFi) tokens, which run on Ethereum, that are rising the fastest today. Uniswap (UNI) is up 10%, compound (COMP) 14%, and aave (AAVE) even 18%. In addition, the Voyager Token (VGX) of the Voyager app is also increasing rapidly. VGX is up 17.5% today and 65% this week. Voyager’s company has announced some major collaborations in recent days.