TMS Network (TMSN) Bolts Towards $12 Million Funding, While Sui (SUI) and Stacks (STX) Recoil Under Bears
TMS Network (TMSN) is fast approaching its hard cap of $12 million in funding. While the new DEX surges, the likes of SUI (SUI) and Stacks (STX) are wiping off their gains as they recoil under the bears.
Why is TMS Network (TMSN) not affected by the bearish pressures while Sui (SUI) and Stacks (STX) have been completely butchered? Here’s what you need to know. Sui (SUI) is a layer-1 blockchain predominantly used as a smart contract platform. An influential crypto trader has accused Sui (SUI) of selling staking rewards generated from locked Sui (SUI) on Binance.
DefiSquared, the crypto trader, has claimed that the Sui (SUI) management team intentionally misrepresented the Sui (SUI) emission schedule. According to him, the actual inflation figure of the Sui (SUI) token stands at around 20% every month.
After the claim was made, the Sui (SUI) Foundation has released a statement of clarification. They have denied selling any staking rewards from locked Sui (SUI) on any platform, including Binance. They have shared details about the supply and distribution figures of Sui (SUI).
The market has not taken kindly to this development, and the price of Sui (SUI) has taken a nosedive. It is trading at around $0.68. It has dropped by more than 22% in a matter of days. Sui (SUI) price will continue to slip for now.
Stacks (STX) Price is Under Major Price Correction
Stacks (STX) is a layer-1 chain for Bitcoin (BTC), which enriches the chain by lending it the capability to develop smart contracts and dApps. Despite the seemingly useful use case, Stacks (STX) has been unable to create any major waves in the market. The primary reason for the inactivity on Stacks (STX) is the hesitation of the Bitcoin (BTC) userbase to adapt to new features and deviate from the current nature of the coin.
Stacks’s (STX) price is also suffering due to its reliance on Bitcoin (BTC) and its own acceptance by Bitcoin (BTC) users.
Given the little demand for Stacks (STX) in the market, it is not expected to grow much anyway. However, for the past few days, market forces have been driving up the price of Stacks (STX), which has not hit the $0.82 mark. It looks like Stacks (STX) is in a period of major correction right now. That is why its price has slid to $0.68 and is expected to fall further.
TMS Network (TMSN) Bolts Towards $12 Million Funding
TMS Network (TMSN) is a decentralized exchange allowing users to carry out trades anonymously and transparently. Unlike centralized exchanges, traders on a DEX are completely in charge of their assets and capital. But, TMS Network (TMSN) has gone above and beyond a regular DEX. It allows its users to trade in crypto assets and traditional assets like stocks and forex. This unique functionality of TMS Network (TMSN) has accelerated its growth and helped it to get the market’s attention.
On top of being a versatile DEX, TMS Network (TMSN) also pays attention to user experience. Its MetaTrader compatibility allows traditional traders to trade in a familiar environment. It has built a library of resources for its users and a trader community where users can interact with each other. This is apart from the AI bot trading, social trading, arbitrage trading, and other features that the DEX offers.
By building an incredible platform, TMS Network (TMSN) has grown 300% from the stage 1 presale to the ongoing stage 4 presale. It has already raised more than 50% of its funding target of $12 million and is accelerating toward the finish line. Experts strongly believe that TMS Network (TMSN) will easily register a 3,000% growth after its launch.
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