The cryptocurrency market has recently been volatile, with significant price jumps and drops across the board. TMS Network (TMSN) is one coin that has been rising. TMS Network (TMSN) is an Ethereum-based decentralized exchange platform that solves most of the challenges associated with centralized trading platforms. TMS Network (TMSN) allows users to trade derivatives, including cryptocurrencies, stocks, forex, and CFDs, using crypto payments rather than fiat currency.
The TMSN token has seen its price rise from $0.025 during the launch of its presale to $0.12 today. This reflects the increasing enthusiasm among DeFi users and investors who have flocked to the presale. Near Protocol (NEAR) and Decentraland (MANA), on the other hand, extended their bearish run this week, falling even further.
In this article, we will take a closer look at TMS Network (TMSN) and explore the factors that have contributed to its recent surge in price as well as the price declines of Near Protocol (NEAR) and Decentraland (MANA).
Near Protocol (NEAR) is down 10% in the Last 24 hours
Near Protocol (NEAR) is a layer-1 blockchain platform aimed at addressing blockchain scalability challenges. Near Protocol (NEAR) is based on the Sharding technique, which involves breaking the network’s infrastructure into many segments so that nodes only have to handle a fraction of the network’s transactions. Sharding improves transaction speeds and reduces costs on the Near Protocol.
Near Protocol (NEAR) recently partnered with Chinese e-commerce giant Alibaba Group to deliver a set of technical functionalities such as remote procedure calls and multichain data indexing. This news resulted in a slight rally for Near Protocol. The surge, however, has since peaked, and the token has resumed its downward trend. Near Protocol (NEAR) is currently trading at around $1.47, down 10.23% in the last 24 hours. Technical indicators suggest a further drop to around $1.29 soon.
Decentraland (MANA) Price Retreats
Decentraland (MANA) is a metaverse (digital universe that simulates the real world in 3D) project that allows people to develop their environments, marketplaces, and dApps. Decentraland users govern this universe using a decentralized autonomous organization (DAO).
Decentraland (MANA) has been on a steady rise, surging more than 15% in the last week. However, just like Near Protocol (NEAR), Decentraland (MANA) recently peaked and is currently having a bearish week.
One of the causes for the reversal is the ease of the market-wide rally. Last week, the entire crypto market embarked on a week-long rise following some positive news about Bitcoin
The Decentraland (MANA) ecosystem has also been shaken by a drop in active users. DappRadar reports that the platform has only recorded 2.4k Unique Active Wallets in the last 30 days. These troubling figures have also been observed in other metaverse projects, raising concerns about this sector. Decentraland’s (MANA) current market cap is roughly $275 million, down from around $1 billion in March 2023.
TMS Network (TMSN) Jumps Nearly 500% in Presale
While Near Protocol (NEAR) and Decenetraland (MANA) slipped this week, TMS Network (TMSN) maintained its presale dominance. The token is currently 480% higher than its presale launch price. So far, the presale has been a big success, raising over $6 million. It is still ongoing, with a Uniswap launch scheduled upon launch.
After that, TMS Network (TMSN) will be listed on major exchanges, attracting more users and investors. This will push the price of the TMSN token higher. Analysts predict that the coin will be worth more than $1 by the end of August 2023.
TMS Network (TMSN) has a unique revenue-sharing model in which investors receive a percentage of the revenue generated by a tiny commission imposed on each trade executed on the platform. Launching on big exchanges will bring in more traders, increasing revenue for token holders. The revenue is distributed through smart contracts, ensuring transparency and fairness.
TMS Network (TMSN) is a decentralized, all-in-one trading platform that aims to revolutionize the traditional trading industry by addressing the industry’s most pressing issues, such as price manipulation, wash trading, and transaction delays. It is the first trading platform of its kind, allowing users to trade derivatives in a completely decentralized environment.
For more information on TMS Network (TMSN):
Presale: https://presale.tmsnetwork.io/
Website: https://tmsnetwork.io/
Telegram: https://t.me/tmsnetworkio
Twitter: https://twitter.com/tmsnetwork_io
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