The Recent Market Downfall and its Impact
The recent market downfall has posed serious threats to the position of well-established players like Solana (SOL) and Cosmos (ATOM). Their investors have suffered severe losses. Meanwhile, a new project, Tradecurve (TCRV), has astonished crypto enthusiasts with its presale success.
Cosmos (ATOM) Proposes To Hire A Lawyer
After the SEC described ATOM as a security in the Binance lawsuit, Cosmos has entered into a firefighting mode to protect its network from crashing. Cosmos (ATOM) has proposed to hire a lawyer to take legal advice before the emergence of any worst-case scenarios.
The draft proposal states that with this development, Cosmos will be able to respond proactively if the court asks for clarity on ATOM’s status. After the lawsuit’s filing, Cosmos has suffered several market jolts, with ATOM’s delisting from some exchanges being the most significant one.
Experts have already pointed out that the lawsuit will have a far-reaching impact on Cosmos. Meanwhile, the exchange rate of Cosmos has crashed by 18% in the past month. Currently, Cosmos is changing hands at $8.73.
Solana’s (SOL) New Contracts Deployment Increases
Just a week ago, the Robinhood exchange had announced delisting Solana (SOL) from its platform. Now, Solana is faced with another blow as Bakkt has also announced that it would stop providing services related to SOL.
Growing regulatory concerns around Solana have been the primary reasons behind the delisting of SOL from the two exchanges. Subsequently, the market value of Solana has also taken a dip of 22% in the past month.
At the time of writing, Solana trades at $15.79. However, the latest on-chain data from Artemis has brought some cheer to the Solana community. According to the data, the new contracts deployed on Solana have reached a year-to-date high.
Tradecurve Leads The Market’s Growth
Tradecurve is a Web3-based trading exchange supporting a wide range of tradable asset classes on a single platform. It enables users to trade cryptocurrencies, futures, equities, forex, and other assets with a single account. A trading account on this platform can be opened with an email Id.
Notably, the number of cryptocurrencies has surged by around 330,000% in the past ten years. Thus, the crypto trading volume has also exploded during this period. Propelling this growth, Tradecurve has made crypto trading more accessible and profitable. It helps traders diversify their portfolios at the lowest transaction fees.
The key advantage of the platform is its privacy mechanism. It protects traders from undergoing any KYC verification process, becoming more privacy-oriented than others, such as Gate.io and Robinhood, where users are required to submit their personal information.
- The platform’s TCRV tokens have been built on the Ethereum blockchain,
- Cyber Scope has fully audited their smart contract.
The fourth stage of the project’s presale is live and is expected to give 80x return to its investors within a few weeks. TCRV’s value has increased from $0.01 to $0.025 during the presale, with a prediction of reaching $1 in 2023.
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