This article will analyze the TOMI coin according to www.coinmarketcap.com data. First, we will discuss the TOMI coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is TOMI Coin?
TOMI Coin is a cryptocurrency that powers the Tomi platform, which aims to provide a decentralized and democratic way for small businesses to access financial services. TOMI Coin can be used for payment, reward, or staking on the platform. It operates on its blockchain and uses a proof-of-stake consensus mechanism for transaction validation. The supply of TOMI Coins is limited to 100 million tokens, with about 20% in circulation.
What are the projects of TOMI?
TOMI Coin is associated with the Tomi platform, which has several projects in development. Some of these projects include:
TomiDEX: A decentralized exchange that allows users to trade cryptocurrencies without intermediaries.
TomiSwap: A liquidity provision and staking platform that enables users to earn rewards by providing liquidity to pools.
TomiVault: An investment platform that enables users to invest their cryptocurrency assets into various strategies managed by professional traders.
TomiBridge: A cross-chain bridge that allows for the transfer of digital assets between different blockchains.
These are just a few examples of what TOMI Coin can be used for within the Tomi ecosystem, but there may also be more developments in the future.
Factors Influencing TOMI Price
Like any other cryptocurrency, the price of TOMI Coin is influenced by various factors. Here are some of the critical factors that could affect its price:
Market demand: The fundamental law of supply and demand also applies to cryptocurrencies. If there is a high demand for TOMI Coins, its price will increase.
Adoption rate: The more people start using the Tomi platform and its services that require TOMI coin transactions (such as TomiDEX or TomiVault), the higher the adoption rate of this cryptocurrency will lead to an increase in its value.
Competition: Several decentralized finance platforms are competing with Tomi, which may impact user adoption and ultimately influence the coin’s price.
Regulatory changes: Cryptocurrency regulations vary from country to country; if rules change in a way that impacts trading or ownership of TOMI coins, it could affect their value.
Overall performance of the crypto market: As with most cryptocurrencies, fluctuations in Bitcoin and other major digital currencies can also impact TOMI Coin’s market value due to the correlation between them.
It’s important to note that cryptocurrency prices are highly volatile and subject to rapid changes based on these influencing factors and many others not listed here.
TOMI COİN TECHNICAL ANALYSIS
After seeing its historical high of $ 5.51 in March 2023, TOMI is currently trading at $ 3.87. According to www.coinmarketcap.com data, TOMI, which has a size of $158,907,341, has had a volume of $18,779,654 in the last twenty-four hours.
TOMI Chart Analysis
One of the newest coins, TOMI, has only been trading for a few months. Although the graphical data of the past is not very much, we will interpret it daily. Opening trading in January 2023, TOMI, after seeing its highest value of $5.51 in March, could not break this resistance even though it has approached this value twice in the last few months. When we examine the daily chart of TOMI, $3.49 is the daily support zone, and $5.51 is the resistance zone. If it breaks above the $5.51 resistance, the TOMI coin can be expected to move up quickly. If the $3.49 support zone is broken down, it can be expected to fall to the $2.00 support quickly.
This article does not certain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
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