The crypto market has been buzzing with activity from its newest players. The most promising of them, TMS Network (TMSN), just announced the launch of a dApp on their network, which has led to a price rally. However, Binance (BNB) and Chainlink (LINK) are trading under massive selling pressures. Here’s what’s happening in the crypto market.
TMS Network (TMSN) Catapults 78% in a Single Day
TMS Network (TMSN) has been creating one impressive milestone after another in the crypto market. The not-so-conducive market conditions make the feat of TMS Network (TMSN) even more impressive. The DEX has become popular amongst investors for its unique use case of allowing multiple asset classes on the platform for trading. These include cryptocurrencies and CFDs, along with equities and forex. The DEX also offers other features like arbitrage trading, AI bot trading, social trading, MetaTrader compatibility, and more that add to its charm.
Since the stage 1 presale, TMS Network (TMSN) has created more than 300% returns. It started trading at $0.025 in the stage 1 presale, $0.05 in the stage 2 presale, $0.078 in the stage 3 presale, and is currently trading at $0.12 in the ongoing stage 4 presale. After the developers announced the launch of a prototype dApp on the platform, TMS Network (TMSN) exploded. The token has appreciated by 78% in just one day of trading, which has increased the expectations of its already happy investors.
Experts predict this is just the beginning for TMS Network (TMSN). It is at the cusp of a major growth spurt that will increase its price by more than 3700% in the weeks following its launch. So, it looks like its early investors are right after all.
Bears Control Binance (BNB)
Binance (BNB) is one of the biggest crypto exchanges in the world. BNB is the native token of the platform. The crypto exchange has been fencing with legal troubles for a while now. The unforgiving macro environment has resulted in a depletion of Binance’s (BNB) value.
Binance exchange has been legally served by the U.S. Securities & Exchange Commission (SEC) for trading in unregistered securities. SEC has listed more than 60 cryptos in the list of securities. This one news has made the whole crypto market come crashing down.
The native token of the exchange, Binance (BNB), has not been included in the list of unregistered securities by the SEC. However, the price of Binance (BNB) has fallen dramatically from $306.39 to $239.6 after the news spread.
The market capitalization of Binance (BNB) has also taken a massive hit. It has dropped from $47.7 billion to $36.7 billion in under a month. Binance (BNB) has lost over $10 billion in market cap in a few short weeks. With more than 21% erosion in its value, Binance (BNB) has become one of the biggest losers of 2023.
For now, Binance (BNB) will not escape the red zone. Bears control Binance’s (BNB) price and will continue to dominate the crypto.
Whales are Moving Away from Chainlink (LINK)
Chainlink (LINK) has been on a seemingly never-ending downtrend since 2021. At its all-time high in May 2021, Chainlink (LINK) price reached $49. Since then, Chainlink (LINK) has lost almost 90% of its value and plummeted to $6.2. Even at such a discounted price, Chainlink (LINK) is struggling to stand firm on its new support price. Investors were already growing wary of their investment in Chainlink (LINK) when the news of a substantial Chainlink (LINK) sale by a whale emerged.
According to a tweet by a crypto observer, roughly $600,000 worth of Chainlink (LINK) has been sold by a whale. So, a little over 97,000 Chainlink (LINK) were offloaded by the whale investor in just one day. It is a significant event because it will further drive down the price of the Chainlink (LINK) and increase the circulation of the Chainlink (LINK) coins. Since it is a whale transaction, it can lead to a major sell-off, further depleting the value of Chainlink (LINK).
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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