The crypto winter seems to be here, and at times like this, projects that continue to move forward with a focus on growth and expansion are often rewarded by traders looking to buy when strong fundamentals prevail over the absence of short positions. Urgent profit. .
One of the projects that weathered the crypto market storm and hit an all-time high is Telos (TLOS), a blockchain network built using EOSIO software that aims to provide speed and scalability to decentralized finance (DeFi) smart contracts. Non-fungible tokens (NFT), games and social networks.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.42 on January 10, TLOS has surged 229% to a new high of $1.39, thanks in part to an all-time high of $26 million.
TLOS/USDT 1-day chart. Source: Trading View
Three reasons for the high price and momentum of TLOS include several new partnerships that have raised awareness of the project, launching non-functional tokens and decentralized funding projects on the TLOS network, and integrating the token into the Anchor wallet.
Partnership increases brand awareness
In recent weeks, the Telos network has seen many new partnerships and integrations that have helped elevate the protocol to a new level of public awareness.
One of the most notable integrations was with DappRadar, which helps subscribers track decentralized applications (dApps) on the Telos network.
The Telos Foundation has also announced a partnership with BikeChain, a standalone sharing app that will process all of its transactions on the Telos blockchain.
New DeFi and NFT decentralized applications launched
Another factor that helped draw attention to Telos is the launch of several new NFT and DeFi implementations on the network that are helping to bring liquidity and users to the protocol.
Recently, OmniDEX was launched on the network, the first native decentralized exchange built on the Telos network.
Other recently launched Telos projects include the TelosPunks NFT project, the tofuNFT Network NFT marketplace, the APPICS social media application NFT, and the AristotleDAO DeFi protocol.
Related: Telos raises $8M ahead of EVM launch to avoid token sale
Anchor wallet integration
The latest development for the Telos ecosystem to coincide with the price increase was the network’s integration with the gray matter wallet Anchor.
This integration with Anchor allows TLOS holders to securely log into various applications running on the network, including the Telos web wallet, the scheduled voting platform, and Staker One.
VORTECS data from Cointelegraph Markets Pro began showing a bullish outlook for TLOS on January 23, before the recent price rally.
The VORTECS Male Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions drawn from a range of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.
VOTECS™ result (in green) compared to TLOS price. Source: Cointelegraph Markets Pro.
As shown in the chart above, TLOS valuation VORTECS began to rise on January 23, roughly 24 hours before the price began to rise 190% over the next nine days.