The cryptocurrency market has been volatile and unpredictable in the past year, with many coins experiencing significant price swings and corrections. Among them, two projects that have attracted much attention are Solana (SOL) and Terra Classic (LUNC), both of which have ambitious goals and innovative technologies.
However, they have also faced challenges and setbacks that have affected their performance and outlook. Read on to find out why TMS Network (TMSN) is expected to perform better.
Solana (SOL): A victim of its success?
Solana (SOL) is a high-performance blockchain platform that aims to provide scalability, security, and decentralization for various applications and use cases. Solana (SOL) claims to be able to process over 50,000 transactions per second (TPS) with low fees and fast finality. Solana (SOL) has attracted many developers and users looking for a faster and cheaper alternative to Ethereum, the leading smart contract platform.
However, Solana’s (SOL) rapid growth and popularity have also come with some drawbacks. In September 2021, Solana (SOL) suffered a network outage that lasted for over 17 hours due to a surge in transaction load that overwhelmed the validators. The incident raised questions about Solana’s (SOL) reliability and resilience, as well as its governance and decentralization. After this outage, Solana (SOL) has continued to experience more outages from time to time, pushing investors and developers away which has caused the token’s price to slump.
Moreover, Solana (SOL) faces stiff competition from other blockchain platforms that are also vying for market share and adoption. Ethereum (ETH) and Aptos (APT) are just two examples of Solana’s long list of competitors. Solana (SOL) must prove its technical superiority and maintain its network stability to retain its edge and attract more demand. Solana is currently over 90% below its all-time high.
Terra Classic (LUNC): A case of bad timing?
Terra Classic (LUNC) is a fork of Terra, a blockchain platform that creates stablecoins pegged to various fiat currencies. Terra Classic (LUNC) aims to provide a more decentralized and community-driven version of Terra, with its native token LUNC and stablecoin USTC. Terra Classic (LUNC) supports staking, governance, and cross-chain interoperability.
However, Terra Classic (LUNC) has faced challenges and difficulties since its launch in April 2021. One of the main issues was the instability of USTC’s peg to the US dollar, which caused fluctuations and arbitrage opportunities for traders.
These developments have cast a shadow over the future of stablecoins, especially those that are not fully compliant or transparent. Terra Classic’s (LUNC) USTC falls into this category, as it is not backed by collateral or reserves.
As a result, Terra Classic (LUNC) price has been on a downward trend since February 2022, losing more than 80% of its value from its all-time high of $0.0008 in May 2021. Terra Classic (LUNC) staking has declined from over 1 trillion LUNC in February 2022 to less than 700 billion LUNC in April 2023. Terra Classic must overcome these challenges and regain trust and adoption to recover from its slump.
TMS Network (TMSN): A rising star?
TMS Network (TMSN) is a decentralized Ethereum-based trading platform, seeks to transform how transactions are performed completely. TMS Network (TMSN) provides investors with a real one-stop shop that tackles a variety of long-standing difficulties that have plagued traders. These include insufficient security, time-consuming transaction processing, and complex trading methods. TMS Network (TMSN) allows users to trade all derivatives including stocks, cryptocurrencies, forex and CFDs in a decentralized environment and through crypto payments.
TMS Network’s (TMSN) non-custodial portfolio management solution gives traders complete control over their assets at all times. This eliminates the need for them to rely on a central clearing house, providing them with greater peace of mind and security when trading. Traders simply connect their wallets to the TMS Network (TMSN) and trade across all major exchanges while withdrawing back to their wallets.
TMS Network (TMSN) also rewards token holders with a commission on trading volumes generated by other users on the platform. The commission allocated to each trader increases as the platform usage grows.
TMS Network (TMSN) has maintained its lead in presale, selling out the first two stages of the presale ahead of schedule. As the presale continues, the platform has raised over $3.9 million. TMS Network (TMSN) is in the third stage of its presale campaign and is currently trading at $0.075. Post-launch, market research has predicted a 100x rally by the end of the year.
Visit the links below 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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