TMS Network (TMSN) has been growing at lightning speed, recording triple-digit growth in weeks. In the same crypto market, cryptos like Dogecoin (DOGE) and Cardano (ADA) struggle to register any significant price movement. How are participants in the same market behaving so differently? Let’s find out.
TMS Network (TMSN) Sets Its Sights on The Moon
TMS Network (TMSN) is a new decentralized exchange that has attracted a lot of attention from the biggest crypto investors. The developers have created a high-value platform that caters to traditional and crypto traders. The asset classes listed on TMS Network (TMSN) include equities, forex, cryptocurrencies, and CFDs. Traditional traders can now enjoy the benefits of DEXs, like anonymity, transparency, security, and more. Other features of TMS Network (TMSN) include AI bot trading, arbitrage trading signal, MetaTrader compatibility, and more.
As a result of the positive sentiment, strong use case, and unique platform features, TMS Network (TMSN) has been growing fast. It has jumped from $0.025 in the stage 1 presale to $0.12 in the stage 4 presale. That’s over a 300% increase in presale sessions alone. After the launch, TMS Network (TMSN) is estimated to grow by another 4,500%, multiplying the wealth of its investors.
Dogecoin (DOGE) Is in the Red and Flat
Dogecoin (DOGE) has always been volatile. It has a particular affinity to the adventures of the tech billionaire and Tesla CEO, Elon Musk. Dogecoin (DOGE) rallies and retreats on what is happening with Elon Musk. Given that Dogecoin (DOGE) is a meme coin, it has no distinctive use case, and market sentiment is the sole driver of its value.
For the past week, Dogecoin (DOGE) has traded in the red, and its market price has remained relatively flat at around $0.6. It looks like the bearish pressures are resulting from the class-action lawsuit that Elon Musk is currently embroiled in.
The lawsuit alleges that Musk has intentionally misled Dogecoin (DOGE) investors, which has caused major financial losses to those investors. The plaintiff has accused Musk of inflating Dogecoin’s (DOGE) value by promoting the currency through his social channels. Such promotions brought him direct profits through the sale of his personal and Tesla’s holdings of Dogecoin (DOGE).
Regulatory Issues Stall Cardano’s (ADA) Growth
Cardano (ADA) has been losing value since September 2022 due to various market factors. However, the recent lawsuit by the U.S. Securities & Exchange Commission (SEC) has pushed Cardano’s (ADA) prices off the cliff. The prices of Cardano (ADA) have gone down from $0.376 to $0.26 in just a few days. That’s a drop of over 30%, which means Cardano (ADA) has lost around a third of its value, and it’s showing no sign of recuperating from the fall.
After being classified as a “security” by the SEC, Cardano (ADA) has been under massive selling pressures. Robinhood has already delisted Cardano (ADA) from its exchange along with other major cryptocurrencies. As a result, the price of Cardano (ADA) has fallen deeper than the broader crypto market. For now, Cardano (ADA) price will tumble even more as investors look for better and safer avenues to park their capital.
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