Cryptocurrencies: What to expect from the Telcoin project

By: Bharggavi Ssayee

May 14, 2021 6:17 AM

While it has been around since 2017, the Telcoin project has only exploded since the end of April. This would be the announcement of a partnership with Quickswap which would be the trigger for the current momentum around the project. Let's see together the different features provided by Telcoin as well as the projections on its future price.

Telcoin: what are we talking about?

Telcoin is a crypto project based on the Ethereum blockchain. The project was initially presented as a solution to help large US telecommunications companies like AT&T or Verizon to work together. In particular, by simplifying international payments. At the time, Telcoin mainly wanted to revolutionize the cryptocurrency universe by focusing entirely on a mobile solution.

Today, it looks like Telcoin is focusing on slightly different horizons. With a focus on international money transfers. Ultimately, Telcoin could provide a competing solution to companies like Western Union. But the group especially emphasizes the possibility of providing payment solutions to those excluded from the global banking system. And they are many. According to 2019 figures, nearly 40% of adults worldwide do not have access to a bank account.

Telcoin: A sensational entry into the top 100 cryptos

The soaring price of the TEL token has allowed the project to comfortably enter the top 100 of the largest crypto projects. Indeed, as of this writing, Telcoin is ranked 55th among the largest capitalizations.

A Telcoin token is exchanged today for $ 0.057. Currently, it is possible to buy the Telcoin token on decentralized exchange platforms (DEX). Via platforms like Uniswap, Balancer or Kucoin. Eventually, it could also be available on centralized exchanges such as Binance, Kraken or Coinbase.

In terms of protocol, the project is limited to 100 billion tokens. At the launch of the project, 25% of these amounts had been reserved for the creators of Telcoin. Currently, almost half of the tokens are in circulation in the markets.

What to expect from the TEL token?

The meteoric rise of the project is surprising. Unlike some cryptocurrency projects that explode a few days after they were put on the market, it took several years for the Telcoin project to take off. As shown in the graph below:

Relatively stable for several years, the project has seen its price multiplied by 80 since the end of January. Such a sharp and rapid rise could translate into a major market correction. Indeed, traders who joined the project at the start of the year might want to validate their profits and disengage massively from the TEL token. This imbalance between supply and demand would then inevitably result in a fall in the price of the asset.

However, if the risks of a market correction are present, Telcoin remains an ambitious project with high potential. It might then be wise to enter this one after the market correction. By using trading tools such as technical analysis indicators.

If the solution deployed by Telcoin addresses a gigantic market, it would also appear to be an ultra-competitive issue. It is therefore difficult to predict which project (s) will ultimately benefit from the theme of banking inclusion. A problem that remains particularly visible in Africa, South America and Asia.