The craze around stablecoins was already declining, but the de-pegging of USD Coin (USDC) has catalyzed the downfall. Even Binance USD (BUSD), which has the backing from the biggest crypto exchange in the world, has also plummeted on the social graph. Meanwhile, TMS Network (TMSN), a new crypto project, has stolen all the limelight with its presale success. TMS Network (TMSN) has raised over $3.2 million, and grown by 1200% in the first month of its launch.
Binance USD (BUSD) Enters Red Zone After Regulatory Attacks
The crypto market has suddenly become unfavorable toward stablecoins, including Binance USD (BUSD). Binance USD (BUSD) is a stablecoin of the Binance exchange. The value of Binance USD (BUSD) is pegged to the US dollar. However, recent weeks have pulled Binance USD (BUSD) down to the ground. The drop in Binance USD’s (BUSD) value began after regulators intensified their attack on the stablecoin. Binance USD (BUSD) suffered a major hit after a leading exchange, Coinbase, delisted it. The market capitalization of Binance USD (BUSD) has fallen from $12.5 billion to $8 billion in just a month. Currently, Binance USD (BUSD) ranks 12th by market capitalization.
USD Coin’s (USDC) De-pegging Event Scares Investors
De-pegging of the USD Coin (USDC) became a momentous event in the crypto world. USD Coin (USDC) is a stablecoin that has been pegged to the value of a US dollar. USD Coin (USDC) was designed to make transactions faster, and reduce the volatility in price. However, the recent collapses of Silver Valley Bank, and Silvergate Capital dragged USD Coin (USDC) to a critical situation where it had to de-peg itself from the US dollar. As per market data, USD Coin (USDC) had deposits worth about $3.3 billion in the Silver Valley Bank. USD Coin (USDC) has witnessed a steep fall in its market capitalization in the past 30 days, dipping from $42 billion to $34 billion. However, USD Coin (USDC) is still the 5th largest cryptocurrency by market capitalization.
TMS Network (TMSN) Brings Revolutionary Innovations to The Market
TMS Network (TMSN) is a blockchain-based platform that combines cryptocurrencies, and traditional derivatives. It is a decentralized trading platform that solves major issues like centralization, low transparency, slow transaction speed, and high fees. TMS Network (TMSN) allows users to trade without resorting to fiat payment. It enables the trading of stocks, Forex, futures, CFDs, and other derivatives by using cryptocurrency as payment. Also, traders will not be asked to open new accounts on TMS Network (TMSN). All they have to do is connect their crypto wallet, and make transactions.
TMS Network (TMSN) is equipped with institutional-level liquidity to allow traders to execute transactions instantly. TMS Network (TMSN) also has an on-chain analysis mechanism to provide advanced price analysis. Moreover, TMS Network (TMSN) has deployed smart contracts to keep middlemen away. It protects TMS Network (TMSN) from any wash trading, price manipulation, and tampering.
TMS Network (TMSN) boasts better scalability than other platforms. Hence, it can allow an increased number of trade activities at lower costs. The platform has also launched TMS Trader Education, and TMS Social Trading Club to help inexperienced traders make informed and profitable decisions. To grant users full control of their order book, TMS Network (TMSN) will offer non-custodial portfolio management, and auto-rebalancing of holdings.
$TMSN is the native cryptocurrency of the platform’s ecosystem, and stage 2 of its presale has begun. A TMSN token can currently be purchased at $0.41, which is 1200% above its launch price of $0.003. Experts have opined that purchasing presale TMSN tokens now can give investors a 100x return on their investment.
To find out more please check the links below:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/TMSNetworkIO
Twitter: https://twitter.com/tmsnetwork_io
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