- Tectum price has jumped by over 400% from its lowest point in December.
- The total value locked in its ecosystem has risen to over $40 million.
- It has risen without being listed in tier-1 exchanges like Binance and Coinbase.
Tectum(TET) price has done well in the past few days as investors cheered its ecosystem growth. The token surged to a high of $44.75 on Monday, its highest level since November 22nd. At its peak, Tectum was up by more than 400% from its lowest point in December, giving it a market cap of over $184 million.
What is Tectum and why is it rising?
Tectum is a blockchain project that aims to be the leading player in the industry, thanks to its superior speeds and low transaction costs. According to its website, it can handle over 1.3 million transactions per second.
This is a huge metric considering that Ethereum handles less than 30 and Bitcoin less than 10. Mastercard and Visa, the biggest card companies in the world, handles less than 100k transactions per second.
Tectum has also developed SoftNote, a high-speed transactionless payment solution for the future. This is a service that enables people to pay without paying any fees and at a much gaster speed. It works with Bitcoin, the biggest cryptocurrency in the world.
According to the website, the process is fairly simple. The system creates an empty BTC crypto wallet using the Tectum BTC node. Then, a minter spends their TET token to mint a SoftNote pack of bills, which are assigned an individual serial number, which can be used for transactions.
Tectum is gaining popularity as over 1.7 million bills have been minted so far with a potential liquidity of over $618 million. At the same time, the total value locked (TVL) in the ecosystem has jumped to over $40 million.
It is worth noting that Tectum token is surging without being listed in any major CEX platform like Coinbase and Binance. According to CoinMarketCap, most of the coin’s token is being traded in Uniswap, MEXC, and Bitget.
Tectum price forecast
The 4H chart shows that the TET crypto price has been in a strong uptrend in the past few days. This rally coincided with the performance of Bitcoin and other cryptocurrencies. It has remained above the 50-period and 25-period Exponential Moving Averages (EMA).
The Relative Strength Index (RSI) and the MACD indicators have pointed downwards. It has also formed a small double-top pattern. Therefore, Tectum token will likely pull back in the near term and then resume the bullish trend. If this happens, the TET token will likely rise above $50 as major exchanges start listing the token.
