Telos (TLOS) rose 229% from its January low on the back of investor interest following new partnerships and the launch of various NFT and DeFi applications. In this article, let’s list 3 factors that trigger the demand for the altcoin project.
3 reasons why the altcoin project has risen to the ATH level
Data from TradingView shows that the price of TLOS has risen 229% to $1.39, with record trading volume of $26 million since dropping to $0.42 on Jan. 10. Three reasons for the rising price and momentum for TLOS are several new partnerships that raise awareness about the project, the launch of NFTs and DeFi projects published on the TLOS network, and the integration of the token into the Anchor wallet. Further in the article, cryptocoin.com Let’s take a look at these 3 factors listed by the analyst Jordan Finnesth, whose analysis we share.
Partnerships of Altcoin project increase brand awareness
The Telos network has seen several new partnerships and integrations in recent weeks that have helped bring a new level of public awareness to the protocol. One of the most notable integrations has been with DappRadar, which helps followers track dApps on the Telos network. The Telos Foundation also announced its partnership with BikeChain, the self-driving car-sharing app that will process all its transactions on the Telos Blockchain.
New DeFi altcoin and NFT dApps launch
A second factor that helps to draw attention to Telos is the release of a large number of new NFT and DeFi applications on the network that help attract liquidity and users to the protocol. Recently, the network saw the launch of OmniDEX, the first local decentralized exchange built on top of the Telos network. Other projects to be launched at Telos in the near future include the TelosPunks NFT project, cross chain NFT marketplace tofuNFT, NFT social media app APPICS, and AristotleDAO DeFi protocol.
Anchor wallet integration
Coinciding with the increase in price, the latest development from the Telos ecosystem is the integration of the network with the Anchor wallet from greymass.
This integration with Anchor enables TLOS traders to securely log into a variety of applications running on the network, including the Telos web wallet, Stable Voter, and Staker One platform.
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