Up 40 spots in 5 days and currently sitting at #56 by Market Cap, $2.9B almost-midcap Telcoin (TEL), continues its bullish destruction of the top 100 coins as it sets sight on being a top 50 coin. I believe this will happen this week as we have some extremely bullish news developing.
Institutional money is flowing into TEL as billion dollar Dubai based Crypto Investment firm FD7 Ventures plans major investment this week into TEL. Prakash Chand, @askthedr on Twitter, discloses he personally placed half of his personal crypto assets into TEL and is making some insane price predictions.
I only started following him this morning, so I don't know the accuracy of his portfolio or if he is even quote-worthy. His TEL price predictions are extremely bullish and I honestly think they won't happen this quick, but I love his enthusiasm and they give me a tingle in my nether-regions:
Multiple remittance corridors are opening over the next 1-2 months and August is when the much awaited V3 of their app is slated for launch, so while I definitely think we will see an uptick in price, this is 3X my initial price prediction. Guess we will see, as I wasn't planning to start selling my bag until September/October anyway.
I do believe we will start to see a pile on effect as additional institutional money starts flowing in according to the infallible Law of Monkey-See-Monkey-Do.
Nebraska LB649, written by the Telcoin Team, is up for vote today by their legislature. You can read it here, but the jist is that it basically provides TEL with a bank charter. This is the type of development team we are dealing with- they continually work within regulatory guidelines and gain approval, building out the underlying business. If you're really into TEL nerd-dom or hate yourself so much that you are willing to watch politics in action you can view the livestream at 0900 PST.
Telcoin is starting to gain media attraction and hype as seen in yesterday's Investing.com article:
Telcoin has managed to get where it is without the help of major exchange listings; it is based on organic business growth. More people, institutions, and media outlets are starting to see this. I have seen several comparisons to XRP- I missed that boat but I sure as hell didn't miss this one and I hope you don't either. You are still early to the party, so take a look at this asset now before the starship sets sail.
Now, I'm off to tether up in preparation to DCA some more in the event we catch a quick consolidation. Thanks for reading and feel free to give your resident TEL shill a thumbs up if you enjoyed the content.
disclosure: I own TEL; you can read my other articles about it and other things here.