04.02.2022, 14:59

3 reasons why the price of Telos (TLOS) is fixing ATH

It seems like the crypto winter is coming, and at times like this, projects geared towards growth and expansion, like Telos, are often noticed by traders and try to build long positions where fundamentals exceed short-term gains.

One project that has weathered the crypto market storm to establish ATH is Telos (TLOS), a blockchain network built with EOSIO software with the goal of bringing speed and scalability into contracts, DeFi Smart , NFT, gaming and social networking platforms.

Data from TradingView shows that since hitting a low of $0.42 on Jan. 10, the price of TLOS has surged 229% to a new high of $1.39 thanks to record trading volume of $26 million.


3 reasons why the price of Telos (TLOS) is fixing ATH

TLOS Price Chart | Source: TradingView

The three reasons behind the TLOS bull run and momentum include the creation of many new partnerships to increase project awareness, the launch of NFTs and DeFi projects on the TLOS network, and the integration of tokens into the TLOS network anchor wallet.

Establish multiple partnerships to increase brand awareness

The Telos network has seen a number of new partnerships and integrations in recent weeks, bringing greater public awareness to the protocol.

One of integrated most notably with DappRadar, which helps users track dApps on the Telos network.

The Telos Foundation has also announced a partnership with bike-sharing app BikeChain, which will process all of its transactions on the Telos blockchain.

Introducing new DeFi and NFT dApps

The second factor that helped draw attention to Telos was the launch of many new NFT and DeFi applications on the network, which helped attract liquidity and increase the number of users coming to the protocol.

Last has the network witness Implementation of OmniDEX, the first decentralized exchange built on top of Telos.

Other projects recently launched on Telos include TelosPunks NFT, the tofuNFT cross-chain marketplace, the NFT APPICS social network app, and the AristotleDAO DeFi protocol.

Integration with Anchor Wallet

The latest development from the Telos. ecosystem coincidentally with the price spike is the integration of the network with the Greymass Anchor wallet.

Integration with Anchor allows TLOS holders to securely log into various applications operating on the network, including the Telos web wallet, Decided Voter and the Staker One platform.

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According to Cointelegraph