Friday, June 9, 2023

Why Telos Just Hit a New High


TLOS has risen 229 percent since its January low, thanks to new alliances and the launch of various NFT and DeFi applications.

In fact it appears that users are experiencing crypto winter. Indeed traders typical reward projects that continute to push forward by focusing on development and expansion. These traders are trying to set up long holdings where strong fundamentals override the lack of short-term rewards.

Telos (TLOS), a blockchain network established using the EOSIO software. It seeks to offer speed and scalability to smart contracts for decentralized finance (DeFi), nonfungible tokens (NFTs), gaming, and social media. On the otherhand, it has withstood the storm in the crypto markets to set a new all-time high.

TLOS has climbed 229 percent to a new high of $1.39, according to data from Cointelegraph Markets Pro and TradingView. This is since it hit a low of $0.42 on Jan. 10. This is attributed in part to a record-high trading volume of $26 million.

Several new partnerships that expanded awareness of the project. These includes the launch of nonfungible token and decentralized finance initiatives on the TLOS network, and the token’s integration with the Anchor wallet are three reasons for the rising price and momentum for TLOS.

Collaborations Help to Raise Brand Awareness

In recent weeks, the Telos network saw several collaborative initiatives and integrations. These have served to raise public knowledge of the protocol.

In fact one of the most prominent connections was with DappRadar, which allows users maintain control of decentralized applications (dApps) on the Telos network.

In addition, the Telos Foundation recently announced a partnership with BikeChain, a self-governing ride-sharing service that would use the Telos blockchain to execute all of its transactions.

New DeFi and NFT dApps are Now Available

Secondly, the development of many new NFT and DeFi applications on the Telos network is attracting attention to the protocol.

The network has released OmniDEX, the first native decentralized exchange built on the Telos network.

Specifically, the new Telos projects are the TelosPunks NFT project, the cross-chain NFT marketplace tofuNFT, the NFT social media tool APPICS, and the AristotleDAO DeFi protocol.

Wallet Integration with Anchor

The Telos ecosystem’s most recent development, which coincided with the price increase, was the network’s integration with greymass’ Anchor wallet.

Moreover, TLOS holders can now securely sign in to the network’s many applications. Additionally, this includes the Telos web wallet, Decided Voter, and the Staker One platform, thanks to this integration with Anchor.

VORTECS™ data from Cointelegraph Markets Pro began to detect an optimistic outlook for TLOS on Jan. 23, prior to the latest price spike.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic assessment of past and present market circumstances. Furthermore, a variety of data elements comprises it. Elements including market mood, trading volume, recent price changes and Twitter activity.

Vincent Sanchez
Vincent Sanchez
Vincent Sanchez currently writes articles for Cryptoconstellation. He completed his Msc in finance and had a successful career as an accountant. Vincent enjoys travelling and working out.

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