Tenet Coin Surged As new Partnership Unlocked

Tenet Coin recently surged above 40% in value after the platform engaged with various big projects to lead the web3 world with its finest and smooth Liquidity staking option.

Tenet, a liquid staking tier 1 blockchain built on the Cosmos network, will collaborate with Conflux and Qtum, two blockchains with a strong presence in China, to strengthen the liquid staking industry's position in those countries.

Users of Conflux and Qtum will each stake a minimum of $1 million in their native tokens to help secure each blockchain and get liquid staking derivatives (LSD) produced by Web3 infrastructure provider Ankr. Let's see what this partnership holds for Tenet Coin.

Tenet Coin's Mainnet Launch and Recent Partnerships Driving the Prices

The partnership between Tenet, Conflux and Qtum will allow Conflux and Qtum investors to transfer their LSDs to Tenet's network and resell them to gain access to enhanced yield and utility.

The partnership will strengthen the Chinese market to adopt the liquid staking options without any haze. As China is rumoured to uplift the ban on cryptocurrencies, Tenet's native coin TENET will automatically become one of the best choices for investors.

While the partnerships aren't alone driving the Tenet coin's price, recently, Tenet announced its mainnet launch roadmap on Twitter.

"In the next 30 days, the LSD firm is trying to provide a fully integrated LSDFi environment, the release of Tenet tLSDs for Top 100 assets, important partnerships, exchange listings, a vibrant DeFi ecology, and the much-anticipated Season 1 - Tenet Drop are among the highlights."

Along with the announcement, Tenet coin is now listed on seven big crypto exchanges from where traders could trade the token easily. The exchanges are Bybit, KuCoin, Bitfinex, Huobi, Gate, MEXC and Bitmart.

Let's focus on how the Tenet coin has surged and moved to a newer peak this month.

Tenet Coin Price Analysis

At the press time, TENET (TENET) price is trading around $0.242465, with a 24-hour trading volume of $6,723,304. This represents a 46.20% increase in the last 24 hours. TENET has a market worth of $11,638,319 with a circulating supply of 48 million TENET.

On the daily chart, the tenet coin is looking positive as the price is certainly moving upwards which confirms the bullish pressure around the ecosystem. The community is strong and hence 3.2K holders are holding the token right now.

Looking at the price chart, as not much data is available, TENET is making a rising flag pattern which makes sense also as the current bull run will soon see a correction. The volume has been increasing over the past day and reached the $12.88K mark. Additionally, the 10 days and 5 days SMA is below the trading price which confirms the bullish movement.

Source: KuCoin | TradingView

About Tenet Protocol

Tenet is a layer-1 founded by Ankr + Cosmos core project members and mentored by OpenAI contributors.

Tenet has created a novel consensus model that supports the use of Liquid Staking Derivatives (LSDs) in network validation. As a result, it is the most secure blockchain in the business.

Liquid Staking Dollar (LSDC) and Eva are Tenet's flagship products. LSDC is the first over-collateralized stablecoin minted from LSD deposits in the industry.

Eva is the only layer-1 wallet that does not require key management. It is the simplest way to introduce ordinary folks to DeFi.