As altcoins and the broader crypto market are starting to show signs of life, an Ethereum rival with a low market cap has suddenly started making big moves.
Telos (TLOS)is an Ethereum Virtual Machine (Ethereum Virtual Machine) compatible blockchain built on the EOS.IO network with a processing speed of 10,000 transactions per second.
Telos EVM aims to be a scalable solution for Solidity-based applications as users can run and deploy Ethereum applications.
The project’s website describes Telos as:
“Unlike other scalable EVMs, Telos EVM is not just a fork of the original Go Ethereum code, but an entirely new EVM redesigned from the ground up to take full advantage of the performances offered by the Telos Native blockchain.”
Less than a week ago, TLOS, the native token of Telos, was trading near the $0.57 level. At noon on the morning of February 2, TLOS reached an all-time high of $1.28. The rally gave its Ethereum rival a 124 percent gain, while larger cryptoassets recorded more modest rallies or traded sideways.
The cryptocurrency, which lost some of its gains at the time of writing, recorded nearly 14 percent from its ATH, as low as $1.11.
According to the platform itself, there are more than 100 different projects built on top of the Telos network. In a recent blog post, Telos even announced its involvement in BikeChain, which functions as a “100% self-driving ride-sharing mobile Dapp”:
“BikeChain is helping to make a real difference in the world by moving towards more eco-friendly forms of transportation, enabling users to win while continuing to let them have a say in the future of BikeChain as a whole.”
In the same blog post, Telos also announced that it has integrated with DappRadar, the world’s largest decentralized app tracker. DappRadar users will now be able to track projects built on Telos, as well as with Ethereum (ETH), Solana (SOL), or Binance Smart Chain (BSC).
At the time of writing, TLOS is currently trading at $1.11, up 97 percent from the past seven days and 2491.8 percent from last year.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.