Arbitrum (ARB) and Dogecoin (DOGE) Hit Lower Circuits as TMS Network (TMSN) Makes an Earth Shattering Splash on Thursday
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The ongoing ICO of TMS Network (TMSN) hit another milestone this Thursday when it witnessed a 45% spike in its token value. The stage 4 presale has been a big hit among investors, but such a sharp move in price is a first for the token. This pushed the value of the TMS Network (TMSN) token to $0.11, right in the vicinity of the psychologically critical $1 mark. The impact of this sudden spike was immediately visible on other tokens in the market, as investors squared off their positions in them to divert their funds to TMS Network (TMSN). Arbitrum (ARB) and Dogecoin (DOGE) are among the worst hit, as they hit lower circuits during the day.
TMS Network (TMSN)
TMS Network (TMSN) is a new decentralized exchange where investors can trade cryptos, CFDs, forex, stocks, and futures. TMS Network (TMSN) is the first DEX to support fiat asset trading, which is a big thing for both crypto and fiat traders. While fiat traders get a taste of decentralization, crypto investors can indulge in the more stable fiat asset trading for once. And they can do all of these using cryptocurrencies exclusively without using any fiat currencies.
The disruptive potential of TMS Network (TMSN) is not lost on investors, who have beelined for their share of the new platform’s success. Their participation took TMS Network (TMSN) from $0.025 in stage 1 presale to its current value of $0.11. As TMS Network (TMSN) races towards its fundraising hard cap of $12 million, its token soars in price.
Arbitrum (ARB)
Arbitrum (ARB) is a new layer 2 scaling solution for Ethereum (ETH) that was launched in 2023. Arbitrum (ARB) uses optimistic rollups to batch together hundreds of transactions and process them simultaneously. They are then recorded on the base chain, which in this case is Ethereum (ETH). Unfortunately, the market is rife with layer-2 scaling solutions for Ethereum (ETH). There are dozens of established L2 chains, and innumerable more are launched each year. Although they do offer some degree of differentiation, which can appeal to a specific group of audiences, L2 chains like Arbitrum (ARB) do not have a vast appeal. After all, Ethereum (ETH) is slowly upgrading its blockchain, which can render Arbitrum (ARB) obsolete in a few months.
For these reasons, Arbitrum (ARB) never took off. In fact, Arbitrum’s (ARB) value has stagnated since its launch. As TMS Network (TMSN) rolled into stage 4 presale, even the investors on the ledge left Arbitrum (ARB) to capitalize on the former’s growth potential. So, Arbitrum (ARB) has dropped below its launch price.
Dogecoin (DOGE)
Bitcoin (BTC) has recovered 40% of its all-time-high value, but Dogecoin (DOGE) continues to mop at less than 10% of its ATH. Clearly, there’s a gulf of difference between the relative performances of Dogecoin (DOGE) and Bitcoin (BTC). Why is Dogecoin (DOGE) struggling to recover its lost value, despite substantial progress in the crypto market?
The reasons for Dogecoin’s (DOGE) struggle are plenty. Firstly, Dogecoin (DOGE) has never found its footing in the crypto industry. It’s a meme coin and has always been a “good joke” at best. Some of its price action was fueled by Elon Musk’s commentary on the token, Dogecoin (DOGE) offers little practical utility. The most utility Dogecoin (DOGE) has found among netizens is as a currency for tipping content creators on Reddit and Twitter.
So, it’s hardly a surprise that Dogecoin (DOGE) investors jumped ship and ran to TMS Network (TMSN) at the first sign of a better opportunity.
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