Tectonic Crypto (TONIC): Will the rally be able to reverse its losses?

Highlights 

• The Tectonic crypto is a cross-chain protocol that offers the user the opportunity to earn passive yield and other features such as instant-backed loans.

• As a decentralised protocol, the users can deposit the digital assets and earn or borrow funds to unlock the liquidity of the assets. 

• On 4 May, the 3175th ranked TONIC token was trading at US$0.0000005013 with a volume of US $1,113,481 over a day, according to CoinMarketCap.

Tectonic (TONIC) crypto has been witnessing red for some time now. In the past 30 days, it has seen a string of losses with its value going down by 47.9% from 15% gains which it witnessed in February earlier this year. On 4 May, it seems it has finally broken the vicious circle of losses with a much-desired rally. 

Although too early to say whether it has recovered from its lows, the current rally, even momentary, will surely bring joy to the TONIC crypto investors.

The Tectonic crypto is a cross-chain protocol that offers the user the opportunity to earn passive yield and other features such as instant-backed loans. The TONIC crypto was witnessing a rally of 5.09% at the time of writing. 

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All about Tectonic Crypto

Built on Cronos blockchain, the Tectonic users can participate on the platform either as liquidity providers or as credit seekers. The liquidity providers can participate by staking their cryptos, which results in liquidity. Meanwhile, credit seekers use these staked tokens to trade them, thereby managing to keep the protocol flowing. 

As a decentralised protocol, the users can deposit the digital assets and earn or borrow funds to unlock the liquidity of the assets. 

Reasons for the rally 

The reason for the rally is still unclear. Almost a month back on 11 March, the token announced its token staking and token airdrop, which had seen it build up its momentum slightly. But it soon fizzled out primarily due to the bearish sentiments prevailing in the market.

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How is Tectonic cryptos price faring?  

On 4 May, the 3175th ranked TONIC token was trading at US$0.0000005013 with a volume of US $1,113,481 over a day, according to CoinMarketCap. While the token seems to be presenting a rally in terms of price, volume-wise, it wasn’t able to attract much attention. 

TONIC crypto’s volume was down by 30.77% at the time of writing, with a fully diluted market cap of US$250,663,688 and a maximum supply of 500,000,000,000,000 TONIC coins. 

The rally was much needed. The market participants will be keen to watch how long this phase will last. The TONIC crypto investors would be hoping for a sustained rally and an increase in participation in the protocol, resulting in better performance. 

Rallies and slumps make one thing clear the crypto market is highly unpredictable, and hence one must be prepared for unexpected ups and downs. At the same time, it’s pertinent that one does proper market research and then enters this market. 

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