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The Tensor price dipped 12% in the last 24 hours to trade for $1.8572 as of 06:20 a.m. EST time.
It comes after an explosive rally that saw the TNSR price record an all-time high of $2.6890 on the Binance exchange. The rally came after the token went live on April 8, with the Solana-based non-fungible token (NFT) marketplace opening its doors to traders.
Trading is officially live on @tensor_hq!
The first epNFT collection by @epplex_xyz minted under the WNS standard @wenwencoin.
Link: https://t.co/jLNFXGVUIm pic.twitter.com/xgVGLVR6CP
— Blessed Burgers (@blessed_burgers) April 8, 2024
As reported, NFT marketplace Tensor launched its native token $TNSR, which caused Tensorians NFT sales to jump 800%. TNSR is the governance token for Tensor, a digital marketplace for Solana NFTs. Professional traders can buy, sell, and trade digital collectibles running on the Solana blockchain network on Tensor.
Follow these Tensorian chads 👇https://t.co/tMXorjHb4W
Who else should we add? 👾
— Tensor ⚡️ (@tensor_hq) April 5, 2024
Meanwhile, the community of TNSR holders have eyes peeled on the airdrop event for Tensor NFT marketplace users.
$TNSR is live.
All treasure boxes (S1, S2 and S3) are now opened.
You have 180 days to claim your $TNSR. pic.twitter.com/SqZjAZtw9I
— Tensor Foundation (@TensorFdn) April 8, 2024
TNSR Tokenomics As Tensor Price Tests The Midline Of The Market Range
With the token going live, TNSR features a fixed supply of 1 billion tokens, with 125 million of this being released in the initial airdrop. The Tensor team has also allocated 55% of the total supply to the community, 27% to core contributors, and 9% to investors and advisors, reserving the remaining 9%.
What is TNSR?$TNSR is @tensor_hq’s governance token, which allows you to guide and impact the protocol's direction via on-chain governance.
Total supply: 1 billion
Initial airdrop: 125 million (12.5%) pic.twitter.com/Q2meVhiVri— Phantom (@phantom) April 8, 2024
Amid the rise of crypto scams, users are advised to claim tokens via only the official website.
As a side note, TNSR token is available for spot trading on multiple exchanges, including Binance and KuCoin. Other exchanges expected to list the token include Bitget exchange, which could provide significant tailwinds for the Tensor price as it gains wider exposure.
Tensor Price Outlook As Tensor Joins A Rapidly Growing List Of Leading NFT Marketplaces
The Tensor price is testing the midpoint of the market range at $1.8597, marked by the 50% Fibonacci placeholder. This market range is measured from when selling pressure peaked at $1.5993 to where buying pressure peaked at $2.1201. The mean reversal principle played out in the TNSR chart against the USDT, and now the Tensor price is primed for its next move.
From a technical standpoint, the market is leaning in favor of the downside, hinting at a possible breakdown below the 50% Fibonacci placeholder. For starters, the Parabolic Stop and Reverse (SAR) indicator is trailing the Tensor price from above at $2.1000.
Moreover, the Relative Strength Index (RSI) is below the ‘50’ mean level, which suggests a weakness among the bulls. The position of this momentum indicator below the yellow band of the signal line also accentuates the bearish thesis.
If the bears take over the market, the Tensor price could extend the fall, possibly providing a buying opportunity at the 38.6% or 23.6% Fibonacci retracement levels of $1.8004 or $1.7223. In a dire case, the dump could send the Tensor price all the way to the bottom of the market range at $1.5993.
TradingView: TNSR/USDT 30-min chart
Converse Case
On the other hand, if the 50% Fibonacci placeholder holds as support at $1.8597, the Tensor price could bounce above it to move north. A flip of the 61.8% Fibonacci retracement level, which is the most critical retracement level, would encourage more buy orders.
The ensuing demand pressure could see the Tensor price forge higher, likely as high as to reclaim the peak of the market range at $2.1201. Such a move would constitute a climb of nearly 15% above current levels. Investors looking to open new long positions should wait for the RSI to reclaim above the 50 mean level decisively.
Investors looking for cryptos with greater rewards, and with a stomach for the risk, might consider eTukTuk, which is ranked by some among the best crypto ICOs of 2024. It’s already raised almost $3 million.
Promising Alternative To Tensor
eTuktuk is the AI-integrated, eco-friendly future of transportation, which allows you to invest and earn right away. The project provides entry into a sustainable transportation revolution with its green $TUK token presale. It stands among the most recommended choices for the best penny cryptos in 2024.
"eTukTuk is one of the most creatively revolutionary projects to enter the EV sector in a long while. Although there are many EV projects, few align with the reality of people living in developing economies." – @CoinGapeMedia
Read more here:https://t.co/ZfqdSLkbG7
— eTukTuk (@eTukTukio) February 6, 2024
eTukTuk is committed to helping Tuk Tuk drivers in less developed countries in South Asia and Africa use less energy. As governments in Asia and Africa embark on ambitious electric vehicle adoption goals over the next two decades, eTukTuk could be well-positioned to play a crucial role in driving this transition.
1/ Witness the groundbreaking transformation of Jammu's public transport!@TataMotors, India's vehicle giant, has just rolled out a fleet of Ultra EV air-conditioned electric buses for Jammu Smart City 🧵⚡ pic.twitter.com/TUAwJHlMaz
— eTukTuk (@eTukTukio) February 1, 2024
The project sets out to help Tuk Tuk drivers adopt a more energy-efficient mode of transportation, and will leverage the $TUK token to establish Electric Vehicle Charging Stations (EVSEs).
Ready to drive change? 🌍
Accelerate towards a sustainable future with eTukTuk! 🚗💨
Participate in the $TUK token sale now and become a part of the green mobility revolution.https://t.co/XIXcperneW
— eTukTuk (@eTukTukio) December 27, 2023
eTukTuk Staking And Presale Updates
eTukTuk’s staking mechanism offers investors a 193% annual percentage yields (APY). Users will get 4.75 $TUK for each BSC block in $TUK Token incentives. Rewards will be payable over 3 years and are determined by your share of the staking pool and annual returns percentage.
Buy TUK, a utility token and the ticker for the eTukTuk ecosystem, for attractive discounts at the presale.
TUK tokens sells for $0.0295 each, but in about 30 hours there will be a price hike. So, buy now if you are interested to lock in the lowest price.
Also Read:
- Green AI Revolution in Web3 – Here’s How You Can Seize the 100X Opportunity With eTukTuk
- eTukTuk (TUK) Storming Into 2024 With Massive Funding, Learn Why Here
- eTukTuk Strives to Bring Sustainable Transport to Developing Nations With Its Innovative Three-Wheeler EV and Charging Infrastructure
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- $40+ Million Raised at ICO - Ends December
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