TMS Network (TMSN) has recently been on a rally, tearing through all-time highs, while other cryptocurrencies such as Conflux (CFX) and Render Token (RNDR) have seen negative market trends, losing significant amounts of money in short periods.
In this article, we will look at the three tokens and their recent market performance to determine why Conflux (CFX) and Render Token (RNDR) are in free fall and whether TMS Network (TMSN) is an investment to consider in 2023.
Conflux (CFX) Falls 12% After DWF Investment
Conflux (CFX), regularly referred to as the Chinese Ethereum, is a public layer-1 blockchain established in China that powers dApps and Web.3 infrastructure. Conflux (CFX) has emerged as a highly scalable network due to its tree-graph consensus mechanism, which supports up to 6,000 transactions per second (TPS).
Conflux was trading at $0.20 at the time of press, down 12.12% in the previous 24 hours. Conflux (CFX) is trading 88.04% below its all-time high of $1.70.
Recently, Conflux (CFX) announced on Twitter that Web3 investment firm DWF Labs had increased its Conflux (CFX) holding after purchasing an additional $18 million worth of CFX. DWF had previously purchased $10 million in CFX in March.
Conflux (CFX) investors were not pleased with the news, with some pointing out that DWF works more like a market maker than a venture fund. This resulted in a sell-off, which sent Conflux (CFX) tumbling.
Render Token (RNDR) Extends Losses
The Render Token (RNDR) powers the Render Network, a decentralized network that offers GPU-based rendering solutions. Rendering entails converting 2D or 3D computer models into realistic images and scenes. Render Network connects users performing render jobs with others who have idle GPUs using the Render token (RNDR) as a means of exchange. The owners link their GPUs to the Render Network to receive and complete rendering jobs.
Render token (RNDR) has recently been losing ground, owing in part to market-wide negative sentiment. The current price of RNDR is $1.92, down 5.91% in the last 24 hours. Render Token (RNDR) has also shrunk on higher time frames, falling 16.75% in the last 7 days, 24.3% in the last 30 days, and 78.18% from its all-time high.
TMS Network (TMSN) Gains Investor Acceptance
With Conflux (CFX) and Render Token (RNDR) underperforming, holders of these tokens can find a haven in TMS Network (TMSN), a DeFi-focused platform that is disrupting the industry. The newly launched trading platform has swiftly gained popularity among traders, and its token has gained popularity among investors.
TMS Network (TMSN) aims to transform decentralized trading by addressing key issues in the industry, such as price manipulation, high trading costs, wash trading, and a lack of trading expertise. The platform is the first of its kind, allowing users to trade all types of derivatives in a completely decentralized environment through crypto payments. TMS Network (TMSN) is built as a highly scalable platform on Ethereum, powering instant transaction processing while leveraging Ethereum’s security.
TMS Network (TMSN) employs non-custodial portfolio management, ensuring that traders always maintain complete control over their funds. In addition, there are no KYC requirements to trade on the platform. Traders simply connect their wallets and trade across all major exchanges, withdrawing all profits back to their wallets.
TMS Network (TMSN) has emerged as one of the most profitable investments in 2023. On top of 100x growth potential, TMSN token holders earn a portion of the revenue generated from trading activity on the TMS platform. The more TMSN you own, the higher your share. Smart contracts automate distribution, assuring transparency and fairness. This revenue-sharing mechanism is self-sustaining, providing TMS Token holders with a direct financial incentive to boost trading volume on the platform, generating additional revenue for the platform and its users. The token is available for purchase through the platform’s ongoing presale campaign. It is trading at a discounted price of $0.12.
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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