When the cryptocurrency industry was launched, the main goal behind its formation was decentralization. The other reason behind its creation was to allow people to process transactions at any time, any place, and any person.
This is the major reason why the cryptocurrency industry has gained so much adoption and is recognized all over the world.
At present, many sectors and branches can be found within the cryptocurrency industry. One of the major sectors is the global remittance platforms that are based on blockchain networks.
This sector has experienced tremendous growth and advancement in recent years and it is constantly evolving to new levels. The sector is mainly popular among users who are in need of guidance and assistance to process peer-to-peer transactions.
Although the entire remittance platform on the blockchain network has been thriving, one of the most prominent projects is Telcoin (TEL). That TEL platform has experienced a significant amount of growth and has demonstrated huge gains in the running year.
Some of the major online cryptocurrency data-analyzing firms have shared information around the growth and gains of Telcoin (TEL). According to the analytical firms, Telcoin (TEL) has gained a tremendous rally from February 1, 2021, until today. The stats show that the price of Telcoin (TEL) has grown by 4,100% in the provided tenure.
The stats from the firms show that back on February 1, 2021, the price of Telcoin was $0.00066 per TEL. However, as of May 8, 2021, the price of Telcoin (TEL) has experienced an all-time of $0.286 per TEL. Furthermore, Telcoin (TEL) has also experienced a surge in its trading volume in the past 24 hours, which is $110 million.
Ever since Telcoin’s (TEL) price surge, many analysts have been trying to come up with a reason that has led to surge a significant surge.
According to reports, the protocol recently made an upgrade to the remittances service it is offering. The reports suggest that Telcoin upgraded its protocol allowing more countries to be able to benefit from the remittance service.
With the latest upgrade in place, the users will now be able to perform transactions for remittances way quicker than other’s will. The protocol has announced that the remittance service will go live between Can Canada and the Philippines. The launch of the upgrade for the remittance platform had been carried out back on February 4, 2021.
The upgrade in the remittance platform now has the platform project reach all-time high stats. The program is also available for the platforms that have smartphones. The best factor about Telcoin’s layer-2 solution is that the platform is available for users on Samsung and Apple.
As of now, Telcoin has entered the remittance market with Canada, but it has three more countries that will be joining the platform. According to the reports, it is planning to launch the same service in the USA, Australia, and Singapore.