By Nathan Ferguson
Telos (TLOS) gained 229% from its January low. That came after the cryptocurrency project entered new partnerships and launched multiple DeFi and NFT services, attracting investors’ attention.
As the market seems to experience a crypto winter, projects that focus on expansion and developments often attract market players interested in long positions where massive fundamentals trump near-term gains absence.
Telos is one of the projects that withstood the storm within the cryptocurrency industry to record a new ATH. Telos (TLOS) is a blockchain platform that uses the EOSIO software, targeting to ensure scalability and speed to DeFi ‘smart’ contracts, social media, gaming, and non-fungible tokens (NFTs).
Data from TradingView and Cointelegraph Markets Pro shows TLOS gained 229% since touching the 10 January low at $0.42, hitting the new peak of $1.39 as trading volume soared to $26 million.
Reasons behind TLOS upswings include new partnerships that led to the increased popularity of this project, Anchor wallet integration, and non-fungible token (NFT) plus decentralized finance (DeFi) introduction.
Partnerships Increases Project Awareness
Telos platform witnessed multiple new integrations and partnerships over the recent weeks, leading to the protocol’s increased awareness. DappRadar is among the integration, helping users track Dapps on the Telos blockchain. Also, Telos Foundation announced partnering with BikeChain, a self-controlling ride-share app, which will handle all transactions within the Telos network.
NFT and DeFi Dapps Launch
Telos network has attracted market players’ attention by launching many new DeFi and NFT applications on the blockchain, attracting users and liquidity to the protocol. Recently, the platform saw the first native DEX, OmniDEX, created on the Telos platform.
Other projects that launched on Telos recently include AristotleDAO DeFi, APPICS social media app, tofuNFT marketplace, and TelosPunks NFT.
Anchor Wallet Integration
The latest update that matched the price increase was Telos’ collaboration with greymass’ Anchor wallet. The integration allows TLOS holders to sign in to several apps, including the Staker One platform, Decided Voter, and Telos web wallet.
Cointelegraph Markets Pro’s VORTECS data started observing TLOS’s bullishness on 23 January, before the latest price upswing. VORTECS compares current and historical market conditions by combining different data points, including trading volume, latest price movements, Twitter activity, and market sentiment.