Cryptocurrency exchange Bittrex recently filed for bankruptcy in the US, becoming the latest crypto venture to go bust. Bittrex pledged to return customer funds and wind down its US operations while continuing to operate overseas, citing the increasingly strong regulatory environment in the US as becoming untenable after a lawsuit brought by the US Securities and Exchange Commission (SEC).
The fall of Bittrex has cast a shadow over the future of crypto big-hitters such as BNB and XRP. At the same time, the exciting new project TMS Network (TMSN) outperforms expectations during its monumental presale event.
TMS Network (TMSN)
As crypto markets continue to act with volatility in 2023, despite an overall improvement in the early months of this year following 2022’s extensive crypto winter, asset diversity is one of the best weapons against market insecurity. TMS Network is thriving with its social trading suite allowing users to trade crypto, Forex, CFD, futures, and traditional shares on the same platform.
TMS Network is a diversity-focused platform with 100% decentralization allowing users to control the future governance and direction of the project. As competitor trading platforms require users to access different tools for each asset class, TMS Network (TMSN) allows users to quickly and easily make profitable decisions thanks to the vast array of experienced trading tips available to members.
TMS Network recently launched its native token in a highly-anticipated presale event at $0.0047, and it hasn’t disappointed, raising $5.6 million in liquidity. Now available at $0.088, an increase of 1700%, it has significantly disrupted the crypto trading sector.
BNB is a long-established cryptocurrency pioneer with its innovative crypto exchange supported by the 2017 BNB token release. The coin took off in 2020 and has cemented itself amongst the top 10 cryptocurrencies by market cap ever since.
However, with Bittrex’s bankruptcy proving the latest in a raft of exchanges to fail in recent months, investors are beginning to show concern about the long-term viability of BNB. In addition, with new exchanges popping up regularly, shrugging off the restraints of new US regulations, BNB finds itself under renewed pressure to retain its supremacy.
As innovative new projects such as TMS Network (TMSN) look to disrupt established platforms, BNB must respond with agility and innovation to keep up and avoid being overtaken in the coming years.
XRP is another project threatened by increased regulatory powers imposed by US bodies and a continuing lawsuit launched by the SEC alleging securities irregularities. A leading facilitator of rapid, efficient, and cheap microtransactions and cross-border payments, XRP has retained the backing of some big-name traditional financial bodies to challenge the supremacy of existing payment facilitators, such as SWIFT.
With the recent failure of Bittrex following a legal challenge from the SEC casting a massive shadow over the future viability and functionality of XRP, investors are beginning to show nervousness about whether the platform has a long-term future despite continuing backing from the likes of the Bank of England and Santander.
Although crypto markets have responded well to the challenges of 2022 this year, increased regulation keeps price growth low in the US. The collapse of Bittrex is the latest in a long line of bankruptcies to challenge crypto investor confidence.
TMS Network (TMSN) is managing to deftly navigate this volatility, with its presale gaining tremendous momentum. With investors seeking out pioneering new projects to back in their droves rather than established platforms, TMS Network looks set to capitalize on this confidence by driving serious gains during the rest of 2023 and beyond.
For more information on the TMS Network (TMSN) presale, follow the links below:-
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