In a competitive market, such as that of cryptocurrency, you have to do something extraordinary, something that is in front of everyone but nobody can see it. You have to seize the opportunity and become the pioneer lest someone else plucks away your shot. This is especially true in the crypto market where one innovation after another is being presented in the digital currency landscape. And one coin that has succeeded in achieving being a pioneer is Telcoin (“TEL” is the utility token of Telcoin).
The main innovation of Telcoin is that it employs Ethereum blockchain technology to facilitate high-speed, low-cost international remittances. It has achieved this by partnering with telecoms and mobile money platforms around the world. If I were to simplify what they have been able to achieve in a sentence, I would say that sending money through TEL has become as easy as sending a text message. The token itself is traded across a range of centralized and decentralized exchanges.
With the headquarter stationed in Shibuya, Tokyo, Telcoin started its venture in 2017, intending to increase financial inclusion worldwide through convenient and affordable digital money transfers on any mobile device. In other words, the main focus of the TEL coin is to facilitate trans-border transactions. The sending of remittances, which has been termed as the Telcoin Remittances, can be executed through the Telcoin Application.
If the technical aspect of the coin is explored a little, although it is based on Ethereum, it uses its proof-of-concept consensus. The PoC consensus mechanism allows the verification of the real-world feasibility before validating any transaction.
Currently, the TEL coin has a value of $0.01964. There has been a gradual increase in its value over time. On 9/14/21, it peaked at $0.0198. It has been fluctuating quite a bit with the highest it reaching at $0.02984 and the lowest at $0.01562 in the last month. In the last week, however, the TEL coin has shown a great deal of resistance as it recovered its position when it dropped on 9/10/21, with the weekly low at $0.01579.
The market cap of this currency has been fluctuating around $900 million and $1.2 billion. The resurgence of Bitcoin last week has played a great role in the stability of the coin. But TEL showed a recovery unlike any of its peers and kept growing with an 82% gain against the dollar and a 43% gain against Bitcoin (BTC) over seven days.
Factors that may have contributed to this upshot trajectory, although still less than its all-time high value of $0.022 it achieved back in May, maybe its $10-million fundraising round and concurrently, introduced a new Telcoin platform stack and two new user-owned decentralized finance (DeFi) Products.
In conclusion, it is pertinent to say that the TEL utility coin has a great deal of potential. For the unbanked masses, it would certainly be a great opportunity. The centralized banks are also in great danger due to the potential of the ease of doing business of the TEL coin. Truly an innovation that was in front of everyone.