One of the original motivations behind Bitcoin (BTC) was the ability to send money to anyone, anywhere, at any time. This has helped create the growing cryptocurrency ecosystem that exists today. Global remittance platforms based on blockchain are a sector of crypto projects that have evolved over time to meet the needs of peer-to-peer money transfers.
And here Telcoin (TEL) is one such project that has made remarkable gains in 2021. Telcoin’s price is up more than 4,100% since February 1, from a low of $ 0.00066 to a new high of $ 0.0286 on May 5 when the altcoin saw a record $ 110 million in 24 hours trading volume. Thus, data from Cointelegraph Markets Pro and TradingView shows. Best crypto Indonesia is popular.
The rally has been set ablaze by the shift to global remittances
The project recently launched an upgraded protocol that will allow remittance services between the Philippines and Canada to go live on Feb. 4. For example, a scroll through Telcoin’s Twitter feed shows. V2 included new versions of both iOS and Android mobile applications. Users in participating jurisdictions can download it from the Apple and Google Play Store.
Canada is the first of the first four shipping markets to enter Telcoin for fiat remittances, according to the Telcoin team. In addition, Canada will soon be followed by Singapore, Australia and the US. When Telcoin CEO Paul Neuner appeared before the Nebraska State Legislature to talk about opportunities in the fintech space and how the state could benefit from legislation aimed at making Nebraska a decentralized financial center, the project got more attention at the end of February.
TEL price taken to new highs by layer 2 trading
The TEL award received a dose of rocket fuel after trading sideways for most of March and April. The reason was that the token was listed on the decentralized QuickSwap exchange that runs on Polygon, a layer 2 protocol built on the Ethereum network. Probably, the lower fee environment of the Polygon network and the attractive return opportunities for liquidity providers on QuickSwap have led to the surge in trading volume for TEL.
Market conditions for TEL have been favorable for some time, according to data from Cointelegraph Markets Pro. The Cointelegraph-exclusive VORTECS ™ Score, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity. Portugal cryptocurrency is popular.
The VORTECS ™ score for TEL was boosted after launch on QuickSwap, initially bringing the price above $ 0.01. About two days before the price rose 84% to a new high on May 5, the score continued to rise, reaching a high of 95 on May 3. Telcoin has the potential to attract a wide variety of global users.
With a globally relevant use case that now works in a low-cost, low-2 environment. The TEL award can be further appreciated as blockchain technology expands its usual presence and new entrants look for cheaper ways to transfer money and make payments.