- Telcoin is a cryptocurrency based on the Ethereum blockchain
- Backed by Batara Eto, a Japanese businessman
Benzinga.com reports that Telcoin (TEL) values are surging and have reached $0.0037 Wednesday late night. The crypto added more than 80% in matters in the last 24 hours.
Telcoin is a cryptocurrency based on the Ethereum blockchain founded in 2017 by Paul Neuner. TEL received its first round of seed funding in September 2017. Batara Eto, a Japanese businessman, invested. The seed round is defined as the funding round raised by a new company to support early product development and market research.
Benzinga.com adds that TEL is a cryptocoin associated with projects dealing with the remittance market. TEL traded 81.37% higher at $0.033 at press time. It has grown by 405.14% in a seven-day trailing period. In comparison, the numero uno bitcoin(BTC) traded 4.49% higher at $56,932.76 at press time.
Since January 2021, TEL value has surged by 18,639.35%. It is better than DOGE, whose values rose by 13,132.58% appreciation in the same period. However, DOGE has support from powerful quarters like Elon Musk and others.
Reason for Telcoin Crypto values growing.
The current jump in values of TEL could be related to listing on the QuickSwap decentralized exchange, which operates on Polygon (MATIC). It is a twin layer protocol resident on the Ethereum (ETH) blockchain at the end of last month.
Why It Matters
According to a report on Cointelegraph, the low fees on the polygon network and attractive returns for liquidity providers on QuickSwap are possible factors for the surge in trading volumes for TEL. CoinMarketCap data reveals that TEL values grew by 147.51%. On Thursday, volumes stood at $118.09 million, while on Wednesday, they were $47.71 million.