Projects are consistently evolving, and whales can have a major role in the value of a specific coin or token. Each cryptocurrency and its utility carries a high responsibility regarding its overall appeal, value, and momentum.
The most notable projects that have sparked interest among investors include Shiba Inu (SHIB), Cardano (ADA), and TMS Network (TMSN), but not all of them have performed equally, and we will be exploring why this is the case.
Shiba Inu (SHIB)
The Shiba Inu (SHIB) ecosystem and cryptocurrency experienced $300 million in trading volume.
News surrounding the financial issues at Silvergate Bank spooked the market, and the SHIB cryptocurrency saw a massive whale sell-off.
With the launch of Shibarium, a Layer-2 network, hype surrounds the ecosystem. Despite those aspects, as of March 3, 2023, the SHIB cryptocurrency is trading at $0.00001134.
This level of volatility and liquidity can help SHIB rebound in the upcoming days, but nothing is certain.
This development decreased SHIB’s value by 13.67% in the last seven days or 5.46% in the last 24 hours. These aspects have made SHIB investors worried, as the cryptocurrency could also dip in the upcoming days instead of rebounding.
Cardano (ADA)
The development team behind the Cardano (ADA) blockchain has discovered a new way to enhance the overall Hydra scaling system and released the latest update surrounding it.
They recorded another milestone on the on-chain activity, where according to the data, 117 projects have been launched on top of Cardano (ADA). Aside from the live projects, 1,205 are currently getting built on the protocol.
Plutus Scripts recorded on Cardano (ADA) equalled 5,857, of which 762 were Plutus V2 scripts.
A major update surrounding the Hydra Protocol was shared, where they announced that they completed work on a different method of dealing with the contests throughout the contestation period.
Future development could spark a higher level of appeal and trust in the ecosystem from the perspective of the network. Hydra can potentially scale ADA to 1,000,000 transactions per second (TPS). ADA is trading at $0.3391 as of March 3, 2023.
TMS Network (TMSN)
TMS Network (TMSN) has also grabbed the attention of a lot of investors and traders, as it’s on a mission to completely revolutionize the way the trading industry operates by becoming a decentralized trading platform available to anyone from anywhere in the world. The platform enables access to the trading of stocks, FX, and CFDs with crypto directly.
By taking advantage of the opportunities behind the TMS Network (TMSN) platform, users can buy or trade any derivative, and all of it is available without the need to create an account. All users need to do is connect a crypto wallet and get access to all of the features alongside the TMSN token. For those new in the trading space, a Copy Trader feature is available, alongside access to MT4 and MT5.
Stage 2 of the presale has begun. The TMSN token is at the forefront of the project and can be purchased at just $0.029 initially. Those curious about engaging with the token and ecosystem need to do so quickly by following the links below, as analysts predict that it can spike to $2.20 by December of 2023. The TMSN token enables investors the unique opportunity to invest in a project that can assert itself as an industry leader.
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