The news and events in the finance space take a toll on the crypto market which influences the performance of cryptocurrencies. In light of this, Authlete, a security solution leveraged by digital asset institutions has secured a $4 million series A funding from SBI Digital Assets Holdings, a firm well known for its investment in crypto companies.
With this investment, some cryptocurrencies have remained unrivalled why others have been. An example is TMS Network (TMSN) which has remained unshaken by this, leaving Stacks (STX) & Fantom (FTM) behind in terms of performance.
TMS Network (TMSN)
TMS Network (TMSN) is an Ethereum L2 network, designed to address existing problems experienced by traders in the crypto space. TMS Network (TMSN) has provided a multi-tier security feature that provides its users with dogged security.
Solving the problem of wash trading and price manipulation, TMS Network (TMSN) has deployed sophisticated algorithms to detect and prevent price manipulation and wash trading. These algorithms deployed on TMS Network (TMSN) ensure traders can trade in fair and transparent markets, with prices that accurately reflect market conditions.
Reacting to the investment Authlete secured from SBI Digital Asset Holdings, TMS Network (TMSN) has remained unrivalled and its value has continued to increase since its inception. The price of TMS Network (TMSN) took off at the presale at $0.0047, and from there, it has recorded an astonishing 2240% increase. TMS Network (TMSN) currently trades at $0.05, despite being in its presale phase.
Stacks (STX)
Stacks (STX) is a Bitcoin layer that allows smart contracts and Dapps to make use of Bitcoin to transact on the Bitcoin blockchain. All Stacks (STX) transactions are transacted on the Bitcoin L1, and Stacks (STX) blocks are totally secured by Bitcoin hash power.
Already struggling to find its position in the market, Stacks (STX) has fallen from its all-time high of $3.6. Following SBI Digital Asset Holdings’ investment in Authlete, Stacks’ (STX) woe in the market has been prolonged as Stacks (STX) has plummeted from its former 0.89 value.
Stacks (STX) is currently trading at 0.79, over a 2% decrease from its former value. In this same period, TMS Network (TMSN) defied all odds, breaking new frontiers, while Stacks (STX) continued to search for a stable position in the market.
Fantom (FTM)
Created as an alternative to Ethereum, Fantom (FTM) is an open-source decentralized blockchain, geared to build on the shortcomings of existing blockchains. Fantom (FTM) boasts of offering top-tier scalability, security and decentralization. To facilitate Defi and other related services off smart contracts, Fantom (FTM) of an independent consensus layer, Lachesis.
In response to SBI Digital Asset Holdings’ investment in Authlete, the value of Fantom (FTM) plummeted, which has contributed to Fantom’s (FTM) continued search for stability in the crypto market. Fantom (FTM) has struggled to maintain its $0.46 rest price.
While trying to do this, Fantom’s (FTM) price fluctuated, going as low as $0.43 from $0.46. Currently, Fantom (FTM) trades at $0.44. While this is going on, the price of TMS Network (TMSN) has experienced a stunning uptrend recording over a 1400% increase in this same window.
Conclusion
With the SBI Digital Asset Holdings’ investment in Authlete, it’s expected that the prices of cryptocurrencies will be affected just like Stacks (STX) and Fantom (FTM) were.
However, TMS Network (TMSN) has successfully surfed the raging waters, maintaining its price stability and proving itself as a strong project. The $4 million TMS Network (TMSN) garnered in its presale has contributed to this feat
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetwork
