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

May 04, 2022 09:16 AM BST | By Manu Shankar
 Tectonic Crypto (TONIC): Will the rally be able to reverse its losses?
Image source: © Jiraart1986 | Megapixl.com

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. 

Also read: Why are DeFi attacks increasing by the day?

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.

Also read: Will Algorand's FIFA deal open a new chapter for blockchain networks?

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. 

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next