Despite the impediments in the crypto sphere, optimism among cryptocurrency traders and enthusiasts has unwaveringly grown. Blockchain technology has been instrumental in developing novel financial solutions aimed at resolving primary everyday difficulties, and more than ever before, the demand for cryptocurrency innovations is on the uprise. Telcoin (TEL) is one of these financial products seeking to transform global remittances.
Telcoin (TEL) was created in 2017 by Claude Eguienta and Paul Neuner, and its core mandate is to create a bridge between the crypto space and fiat currencies with the aid of the blockchain. Telcoin Pte. Ltd. is situated in Singapore and boasts a diverse and competent team in Japan, Tokyo.
What is Telcoin?
Telcoin is a decentralized cryptocurrency and remittance system built on Ethereum. It was designed to make worldwide money transfers easier by integrating blockchain and the telecom industry. Telcoin aims to take over the remittance market, currently dominated by Western Union (WU) and other competitors, by partnering with worldwide telecom enterprises, mobile money platforms, and billing platforms to provide consumers with instantaneous and low-cost digital remittances via a mobile platform and secure wallet.
Telcoin leverages the best features of the Ethereum blockchain to achieve its goal. It relies on Proof of Concept (PoC) rather than traditional validators to verify consistency in transactions. Also, it determines whether a transaction has some degree of real-world practicality before confirming the transaction.
There are three parts to the Telcoin model: the infrastructure, telecommunications enterprises, and consumers. It guarantees the appropriate application of wallets as well as the network’s implementation. Telcoin users retain complete ownership and management of their tokens, which is commonplace with any decentralized digital coin.
In other words, token holders retain the power to send their tokens straight to a peer wallet. However, due to Telcoin’s security design, activating these transactions requires a minimum of two private keys. This security architecture can further be strengthened by utilizing a multi-signature approach that guarantees a more security-conscious system.
Telcoin (TEL) distinguishes itself from competition in providing efficient remittance and financial services to its consumers. These offerings include incentivized adoption, affordable transaction fees, instantaneous transfers, flexible API integrations, top-notch security architecture, multi-platform compatibility, and the ability to interact with existing mobile money wallets.
The utility token of the Telcoin ecosystem is TEL – an ERC 20 token. Users must own this token to facilitate interactions with the core offerings of the Telcoin network. Telecommunications operators leveraging the offerings of Telcoin can issue TEL tokens. The higher the TEL token integrations a telecom or mobile operator accommodates, the more the incentives it earns from the TEL network- this is in line with the incentivized adoption approach. TEL can be traded on decentralized exchanges such as Sushiswap and Uniswap. Also, it is listed on Kucoin and several centralized exchanges.
Telcoin Price history and technical analysis
At the inception of the Telcoin (TEL) project in 2017, the maximum token supply on the network was 100 billion TEL. Currently, TEL has a circulating supply of over 54 billion tokens (over 50%). One-quarter of the tokens were distributed to investors in a crowd sale, and another 15% was reserved for the development team, including a 5% liquidity fund. The incentives redeemable by telecom operators amount to 50% of all tokens. Also, ongoing developments and community incentives get 5% of all Telcoin tokens.
Taking a look at the dynamics of Telcoin, its first significant price action was in January 2018, when it hit a market price of $0.00387607. It fell below the $0.001 mark in June 2018 and reached an all-year low price of $0.00014220 in December 2018. TEL spent the first quarter of 2019 between $0.0004 – $0.0007 and ended the year around the $0.00035 mark.
On March 13, 2020, TEL plunged to an all-time low of $0.00006516. The price ramped up until it attained an all-time high of $0.0649 on May 11, 2021. However, a further upside movement was rejected, and the TEL price momentum was reversed.
The current price of Telcoin is trading around the $0.019 mark, with a 24-hour price drop of about 0.21%. However, its market momentum has taken an upward trend in the past few weeks, and a breakout well above the current price is expected soon.
Market prediction for Telcoin price 2021-2028
Among the digital assets making the headlines in 2021, Telcoin is probably the most surprising for many crypto enthusiasts because its price dynamics share no direct connections with Bitcoin (BTC). TEL made its entry into the crypto space in 2017, and since the wake of 2021, it has seen a couple of bullish price movements that vastly exceeded the previous ones. TEL made the headlines in May 2021 after hitting its highest price yet – $0.0649.
With the massive developments ongoing in the Telcoin ecosystem, and of course, if market sentiments are in favor of TEL, the digital asset could hit the $0.036 mark by the end of 2021 or even surpass expectations. Let’s look at other Telcoin price forecasts.
TEL price prediction from TradingBeasts
TradingBeasts, well-known for its in-depth price predictions for cryptocurrencies, has released an extensive Telcoin forecast for the remainder of 2021 and beyond. The TEL price prediction for October is pegged at a minimum of $0.0218578 and an expected maximum coin price of $0.0321438.
For November 2021, TradingBeasts Telcoin price prediction pegged the coin at an expected maximum price of $0.0324212 and a minimum of $0.0220464. This forecast projects some stability and optimism with a 1.14% growth from October 2021.
The optimism and stability are further projected in its Telcoin price prediction for December 2021. TradingBeasts reveals that Telcoin (TEL) could trade at a minimum price of $0.0222317 and a maximum coin price of $0.0326937 with a growth of 1.12%.
As predicted by TradingBeasts, Telcoin has a positive outlook and could hit a maximum coin price of $0.0362841 in 2022 and $0.0401841 in 2023. Also, the expected minimum prices for these periods are pegged at $0.0224260 and $0.0248930, respectively.
Telcoin price prediction from Wallet Investor
On a short-term basis, Telcoin price prediction by Wallet Investor forecasts a slightly bearish end to September 2021, with TEL price expected to trade below the $0.018 mark.
However, the long-term Telcoin price prediction, beyond 2021, projects a very bullish cycle for the digital asset.
Telcoin price prediction by Longforecast
According to Longforecast, TEL is expected to have a minimum coin price of $0.014 and a maximum of $0.026 for September 2021. Further predictions are as shown below:
Telcoin price prediction 2021
By December 2021, the average Telcoin price is expected to be $0.026 and may approach the $0.030 mark. As such, it will be a good investment to purchase Telcoin at the current market price to earn significantly by the year’s end.
Telcoin price prediction 2023
The long-term TEL price prediction shows that the coin may underperform in the first few months of 2023, with prices falling below the $0.030 mark but will put up recovery after that.
Telcoin price prediction 2025
DigitalCoin‘s long-term TEL price prediction depends on the market’s overall sentiments and the digital asset’s price cycle. If TEL market prices go above the $0.030 mark by the end of 2021, we could see the coin rise to about $0.06 by 2025, with a corresponding surge in market cap.
The Telcoin price prediction by DigitalCoin forecasts a TEL/USD price of $0.06937 by 2026, $0.075897 by 2027, and $0.088637 by 2028. Telcoin could well turn out to be a profitable investment.
Conclusion
As seen from the analysis above, the Telcoin predictions are pretty optimistic, and it may exceed expectations if investors decide that TEL is a worthwhile investment like Ethereum and Bitcoin.
However, there is no guarantee that future TEL price changes will be negative or positive, as the possibility of future growth will be dependent on several factors. Some of these factors include deploying novel technological solutions, announcements, sentiments in the crypto market, etc. Regardless, before investing in Telcoin, it is essential to do due diligence as with any crypto-based project.
TEL FAQs
Is Telcoin an Ethereum-based coin?
Yes, TEL is an Ethereum-based cryptocurrency launched in 2017 to bridge the divide between cryptos, blockchain, and telecom.
Is Telcoin a good coin to add to an investment portfolio?
Based on Telcoin predictions, it is a good investment. However, before investing in any initiative or sanctioning a crypto trade, constantly evaluate historical data on leading exchanges, do your research, familiarize yourself with fundamental analysis, and seek investment advice from a crypto expert.
How to buy Telcoin?
TEL can be purchased on a crypto exchange. These cryptocurrency exchanges offering several assets include KuCoin, HitBTC, Bilaxy, 1inch Exchange, and Bitbns. At the moment, it is impossible to buy a TEL token directly from an exchange. Users interested in buying Telcoin will have to purchase a different digital asset and then swap the help for TEL.
All ETH-based wallets are compatible with Telcoin. With further developments in the network’s ecosystem, TEL coin could be available in more crypto exchanges with the possibility of a direct purchase.
Can Telcoin (TEL) reach $0.1?
Yes, given the price prediction of Telcoin crypto, it is entirely plausible for the coin to hit $0.1 soon. Again, this is not a piece of investment advice; always DYOR (do your research). It is not enough to rely on a Telcoin price prediction.