The Tectonic cryptocurrency has become a trending cryptocurrency in 2022, with its TONIC coin seeing some pretty drastic price changes as a result. But what is tectonic crypto?
The cryptocurrency market is always buzzing with new cryptocurrencies and tokens being launched every day. In January, we saw an incredible surge of Grimace Coin, a cryptocurrency launched based on a McDonald's tweet.
So, after TONIC's recent price surge, here's a rundown on what Tectonic is.
What Is Tectonic Crypto?
The Tectonic platform is a decentralized money market protocol that allows users to participate as liquidity suppliers or borrowers.
In simpler terms, it's a cross-chain money market that intends to make borrowing and lending easier for investors and users. Tectonic Crypto makes lending and borrowing convenient and decentralized through which users can earn attractive yield and passive income.
The platform's native crypto TONIC saw another notable surge in January, reaching 0.0000012 on January 30. Its price was just $0.00000041 a week earlier (via CoinMarketCap). However, putting this in context, TONIC is down over 75% from its All-Time-High of $0.000004029, reached just after its December 2021 launch, before crashing.
Tectonic Crypto offers additional returns to HODLers from interest by supplying assets to the protocol without the need to actively manage their assets. It also provides users with a chance to borrow certain cryptocurrencies and capitalize on their short-term trading view.
Users can also gain access to other cryptocurrencies for multiple purposes (ICO bonding participation ) without the additional need to liquidate their original assets.
Why Is The Tectonic Crypto Price Rising?
The Tectonic Crypto token surge can be attributed to some recent developments in terms of its listing and community interest. The token was recently listed on Crypto.com and Hotbit which helped the token seek credible momentum in the crypto space. The increased user activity associated with the token is one of the reasons why it's the price has been rallying ahead.
Moreover, the network is keeping no stone unturned to popularize its project. Tectonic has announced an upcoming giveaway of Tectonic Coin and has released airdrop snapshots that have gone viral on social media.
Earlier this month, the tectonic crypto revealed their roadmap for the year 2022 unveiling some big details about their crypto path ahead.
The updated roadmap includes maturity lock vaults, reward bounty, market insights, and rewards/token visibility as some of the key elemental changes which will be going live sometime around Q4,2022.
The updated roadmap has been considered ambitious by several crypt enthusiasts which might be one of the many reasons why $TONIC is up 61% in the last 48 hours. At press time, the token is up 1.51% and is sitting at $0.0000001951.
The trending $TONIC coin news has also spurred a fake airdrop campaign that the tectonic team warned its users about a week ago. The team cautioned its investors adding that they are not hosting any airdrop and that the users should be vary of such hoax campaigns.
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Of course, as with any new cryptocurrency or new NFT collection, there is likely a heap of prospective investors seeking to jump on TONIC before any predicted future growth - a practice known as FOMOing. It is vital to do further research and due diligence on TONIC and any other cryptocurrency before buying into what remains a volatile industry in terms of prices.
How To Buy Tectonic Crypto Or TONIC?
The TONIC coin is available on Crypto.com, Pancakeswap, Uniswap, and Gate.io. You'll need to go to your preferred cryptocurrency exchange and go through the following steps to buy TONIC.
- To purchase the coin, visit the exchange and link your wallet address with the exchange of your choice.
- Purchase Ethereum, Binance smart coin, or Dogecoin to ensure the exchange of your TONIC with these cryptocurrencies
- Purchase the TONIC after paying in the above-mentioned cryptos
- Store the TONIC coins in your wallet to trade them in the future.