Telcoin Crypto Price Overview, Its Platform & Use Cases

Telcoin crypto is based on the Ethereum blockchain. It serves as the native medium of exchange, reserve asset, and protocol token for its user-owned, decentralized financial platform and was created to enable end users to access and power a global suite of decentralized financial products seamlessly.

The Telcoin Platform

The Telcoin Platform uses a multi-layered design, consisting of an application layer (the Telcoin app), a liquidity engine (TELx), and a settlement network (Telcoin Network). Driven and synchronized by the TEL token, these components work together to create a suite of mobile-based, user-owned, decentralized financial products.

What is TEL used for?

Medium of Exchange: TEL is the native token of the Telcoin Platform and functions as the gas fee token of its Network. This means consumers use it to pay for transaction fees on the network.

Staking and Governance: Miners and validators stake TEL on the Telcoin Platform. The amount of TEL they stake determines both their earnings from transaction fees and their influence in platform governance. Validators who stake more TEL have a higher probability of securing a block on the blockchain, thus earning more TEL over time.

Revenue Source for Validators: Validators make TEL in two primary ways. First, they obtain gas fees in TEL from consumers to secure their transactions on the blockchain. Second, they can harvest TEL issuance flows from each block they secure.

Liquidity and Transactional Use: Validators can exchange TEL for other assets using TELx liquidity pools. They also pay TEL gas fees to ensure their transactions are included in blocks and secured on the Telcoin Network blockchain.

Telcoin Crypto Price Overview

As per the data of coin gecko price of Telcoin crypto is $0.00222301 today with a 24-hour trading volume of $0.76 Million. This means a 1.40% price decrease in the last 24 hours and a 6.10% price decrease in the past 7 days. With a circulating supply of 73 Billion TEL, Telcoin is worth a market cap of $162.06 Million.

The trading volume of Telcoin crypto is $0.76 Million in the last 24 hours, showing a -26.00 % decline from one day ago, indicating a recent slump in market activity.

The highest price paid for Telcoin crypto is $0.064483, which was recorded on May 11, 2021 (over 2 years). Comparatively, the current price is 96.60% lower than the all-time high price.

The lowest price paid for Telcoin is $0.00006474, which was recorded on Mar 13, 2020 (almost 4 years). Comparatively, the current price is 3,324.70% higher than the all-time low price.

The fully diluted valuation (FDV) of Telcoin crypto is $221.87 Million. This is a statistical representation of the maximum market cap, assuming the maximum number of 100 Billion TEL tokens are in circulation today. Depending on how the emission schedule of TEL tokens is designed, it might take multiple years before FDV is realized.

Conclusion

Telcoin is a decentralized financial platform that uses the Ethereum blockchain and its native token TEL to enable users to access various financial products. TEL has multiple utilities, such as paying transaction fees, staking for rewards and governance, and exchanging for other assets. Telcoin’s price has declined recently, but it still has a significant market cap and potential for growth.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.