Market Analysis Wall Street Today

Telos (TLOS) price has risen by 120% over the past month: this is why it is rising

Telos (TLOS) has maintained a bullish outlook since January 27th. It set a new all-time high at $1.43 on February 7 before taking a slight pullback to $0.986 and later resuming its bullish trend.

It is currently trading at $1.12 after a 10.84% surge in the last 24 hours.

In this article, we shall take you through what is propelling the current Telos (TLOS) Bull Run.

What is Telos (TLOS)?

Before we delve into the current bullish trend, it’s important we first explain what Telos is.

Telos is a blockchain network that incorporated with an EOSIO software aiming at bringing scalability and speed to smart contracts for NFTs, social media, gaming, and decentralized finance (DeFi). Its native token is called TLOS.

Why is the price of TLOS rising in February?

Three reasons are being attributed to the current bullish TLOS bullish trend. These include new partnerships, TLOS integration to the Anchor wallet, and the increased launching of NFTs and DeFi projects on the Telos network.

New Partnerships

Over the past few weeks, Telos has had several integrations and partnerships that have increased its brand awareness across the globe.

For example, the integration of Telos Foundation with DappRadar has helped Telos users to keep track of their dApps on the Telos Network.

The Telos Foundation also partnered with BikeChain, a self-governing ride-share application that processes all the transactions on the Telos blockchain.

Launching of NFTs and DeFi projects on the network

There has been an increase in the number of DeFi and NFT projects launching on Telos; something that has attracted liquidity and users to the protocol. The most recent DeFi project is the OmniDEX which is the first native decentralized exchange to be built on the Telos network.

Other projects that have been recently launched from Telos include the cross-chain NFT marketplace tofuNFT, the AristotleDAO DeFi protocol, the TelosPunks NFT project, and the NFT social media app APPICS.

TLOS integration to the Anchor wallet

The other significant development in the Telos ecosystem was the network’s integration to the Anchor wallet from Greymass, an organization built to facilitate the growth of distributed ledger technologies and the infrastructure powering them, this led to a huge price hike.

Through this integration, TLOS holders can sign in safely to various applications like Staker One platform, Telos web wallet, and the Decided Voter, that operate within the network.

The post Telos (TLOS) price has risen by 120% over the past month: this is why it is rising appeared first on Coin Journal.

Previous post Algorand (ALGRO) price is up 7%, here’s where to buy it
Next post How To Hedge Your Bets Once You’ve Realized A Mistake Was Made

More Stories