The post TMS Network (TMSN), MAGIC (MAGIC), and Filecoin (FIL) Look to Capitalize the Crypto Recovery appeared first on Coinpedia Fintech News
2023 has been good for crypto. Well, at least so far. With all the bad news that made headlines in the crypto market in 2022, it feels like the light at the end of the tunnel is finally here. The beginning of 2023 has been encouraging for crypto traders, and the momentum seems to continue for now. Some cryptocurrencies have been able to capitalize on this recovery. These include the TMS Network (TMSN), MAGIC, and Filecoin. How have they managed to do it better than other cryptos in the market? Here’s the lowdown.
TMS Network (TMSN)
The TMS Network (TMSN) is attracting both new and existing crypto traders to its platform. The use case of TMS Network (TMSN) is innovative and utility-driven. They have built a decentralized trading platform for traders across the market, not just a crypto trader.
A trader can sign in on the platform and trade in Forex, equities, CFDs, and cryptocurrencies. They can do all of this while enjoying the benefits of decentralized trading, like low transaction fees, quick transactions, transparent functioning, tamper-proof trades, easy withdrawals, and more.
The TMS Network (TMSN) has also succeeded in building a thriving community of traders on its platform. It doesn’t just provide a platform for trading but a hub for financial education through videos, blogs, and other resources. It is truly capitalizing on crypto recovery by offering a great product and marketing it right.
MAGIC is the utility token for the Trove Marketplace built on Arbitrum. Trove marketplace has become a brand among gamers who play, trade, and collect NFTs on the platform. MAGIC is primarily used in this ecosystem to buy and sell those NFTs.
With the recovery in the crypto market, the NFT market is gathering steam again. The value of NFTs and MAGIC go hand in hand. Trove is an incredibly popular marketplace. With the market booming and gamers trading in NFTs again, the demand for MAGIC will increase. It will serve as a currency to trade as well as a currency to stake.
MAGIC is already witnessing a rise in value thanks to a renewed interest in NFTs. The trading volume, as well as the price of MAGIC, is slowly going up, and it will continue to do so in the near future.
Filecoin is a decentralized platform based on blockchain where users can share their unused cloud storage space. The native token FIL is used to encourage and reward users on the Filecoin network. Filecoin does not necessarily work as a store of value or a platform to build dApps but as a service offering unused cloud space.
In the current crypto recovery phase, Filecoin has positioned itself as a rather stable cryptocurrency. It offers a use case, unlike meme coins. It is completely decentralized as well. Given the increasing demand for decentralized storage space, Filecoin is certainly a worthy contender in the market.
While it will not be easy to determine the capital appreciation Filecoin can provide, Filecoin does offer a unique service for which there is ample demand.
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