The movers and shakers of the crypto-verse for the week were Stacks (STX), Polygon (MATIC), and the TMS Network (TMSN). As Stacks (STX) and TMS Network (TMSN) rose, Polygon (MATIC)’s investors had to suffer another downtrend.
What’s happening in the crypto market, and why are cryptos moving like they are now?
The bulls have successfully pushed Stacks (STX) above the psychological barrier of $1. Since the start of the year, Stacks (STX) has gained over 500% in its value. Stacks (STX) now sits among the best-performing tokens of 2023.
The recent rally in the price of Stacks (STX) is largely considered a response to the Stacks 2.1 upgrade. The upgrade took place on March 20, 2023. Most blockchain tokens usually shoot up in anticipation of a major overhaul, and the same has happened with Stacks (STX).
In a Tweet from their official account, Stacks (STX) said, “Stacks 2.1 introduces several improvements to Stacking that will eliminate inefficient or confusing aspects of Stacking, the PoX reward & security mechanism. For example: continuous Stacking allows for Stackers to avoid missing a reward cycle in between Stacking their $STX.”
It is difficult to say how long the uptrend in Stacks (STX) will continue. For now, Stacks (STX) has breached the psychological barrier, and the bulls will keep its price there.
The DeFi market is growing and is attracting new investors. Most of the blockchains are showing an uptrend because of the rise in the market capitalization of the smart contracts market. Amid such market conditions, Polygon (MATIC) should rally, but just the opposite is happening.
The competition is high in the smart contracts markets. There are many new players, and the existing competitors of Polygon (MATIC) are getting better too. Polygon (MATIC) has introduced many network upgrades, but there seems to be no respite for its investors. Most of them are cutting their losses and moving out of Polygon (MATIC).
Polygon (MATIC) has come up on some hard times, and they don’t seem to be ending anytime soon either. Polygon (MATIC) is expected to experience even more downtrends in the coming weeks.
TMS Network (TMSN) has been making waves since its presale began. After all, the platform offers unique use case – a DEX that allows traders to buy and sell cryptocurrencies, stocks, CFDs, and forex. The use case has resonated with many crypto users who want to benefit from investing in all these asset classes. For this reason, demand for TMS Network (TMSN) has only been rising since the announcement of its presale.
The stage 1 presale saw TMS Network (TMSN) raise $500,000 at $0.025. With the ongoing stage 2 presale, TMS Network (TMSN) has already raised a total of $300,000 at $0.047. TMS Network (TMSN) has shown its potential by growing more than 100% between consecutive presale stages.
TMS Network (TMSN) has delivered incredible benefits for its early investors. Experts believe that TMS Network (TMSN) will continue to grow with the same momentum. Predictions say that it will grow by more than 1,000% in the weeks following its launch.
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