Telcoin Pte. Ltd. is a Singaporean team of telecom-focused developers who created an ERC-20 token called Telcoin (TEL). The project aims to bring instant international money transfers to mobile phone users by integrating blockchain technology with worldwide mobile networks.
The TEL token, Telcoin Wallet app, TELx Network, and a settlement layer called Rivendell are all part of the Telcoin platform. The TEL token and Telcoin Wallet app were initially released by the company.
TEL Token Transfer Without Gas Fees
Downloading the Telcoin app from the App Store or Google Play allows users to transfer TEL to third parties without paying commission fees associated with global money transfers. Users can also store, secure, and trade digital assets and send and receive fiat remittances in 16 countries using the Telcoin app.
Telcoin’s goal is to make money transfers easier and smarter, whether it is in peer-to-peer transactions to individuals’ phone numbers or while interacting with e-commerce stores. Telcoin is working closely with major mobile networks in regions where traditional financial institutions are not easily accessible. This partnership benefits disadvantaged populations who only require a working smartphone with a phone plan to participate.
Telcoin uses an API to promote network interaction and cooperation, allowing operators and networks to integrate with Telcoin. This integration qualifies them to receive constant TEL issuance. Networks that receive more traffic and have higher integration maturity will earn more TEL as a reward.
Apart from the official Telcoin wallet, existing mobile wallets can integrate with Telcoin too. Payments transferred through partnered mobile wallets are free, with the only fees being the ones from converting TEL into other cryptocurrencies and converting those cryptos into fiat.
The project’s ultimate goal is to provide an alternative to traditional money transfer platforms via cheap remittance, payments, credit, and other blockchain technology-based perks. This will facilitate the overall unbanking of the world.
Technical Analysis and Prediction of TEL Token
The TEL price has been rising since the middle of October. However, when the price reached a resistance of $0.00271 the bullish investors left. This resulted in the price falling below the 150 and 50-Day EMAs.
At press time, the immediate support level for the bulls is at $0.00132 and the 2nd support level is at $0.00089. The next target for the TEL price could be to fill the gap that was created during the breaking of the 50 and the 150-Day EMAs.
Conclusion
Telcoin is a Singaporean team that created TEL token for smarter and easier money transfers via blockchain technology. The TEL price has been rising since October but recently fell below EMAs after reaching a resistance of $0.00271.
Technical Levels
- Support Levels: $0.00132 and $0.00089
- Resistance Levels: $0.00181 and $0.00271
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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