TNSR Price Analysis: Tensor Crypto Marketplace Takes 70% of Solana NFT Volume—Sell Airdrop?
By:C, Fiona
Sixty to seventy percent of Solana‘s daily NFT transactions currently take place on the Tensor (TNSR) NFT Marketplace, which has had an incredible start. But how is the TNSR pricing analysis coming along as Tensor crypto handles $2Bn in initial sales?
Launching Tensor proved that NFTs are not extinct and can still yield substantial profits.
Instantly after its launch in July 2022, the Tensor NFT marketplace surpassed all others in Solana’s ecosystem, breaking 640 million Ordz games and announcing a new console.
With 70% of the network’s NFT volume in the past three months, Tensor Crypto has processed $2Bn in sales and accounts for 60-70% of Solana’s daily NFT transactions. Regardless, the launch of Tensor’s token this week is crashing to the ground.
With a market price of $1.58 (a move of -13.5% in 24 hours), Tensor is presently testing the bottom of the trading channel.
This occurs as the project’s market cap drops to $200 million from $1.16 billion at the beginning of trade, a decrease of -27.85%.
Tensor has a lot of credibility thanks to backers like Solana Ventures and the co-founder of Solana. So, is it a solid investment for the future?
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Is It Time to Sell Your TNSR Airdrop Bags for Tensor Crypto?
Tokenomics analysis of the project reveals a 1 billion TNSR supply with the following initial tokenomics:
- The community will get 550 million (55%) TNSR, of which 12.5% will come from the first airdrop;
- 270 million (or 27%) of the total TNSR went to the main donors;
- 90 million TNSR, or 9%, were given to advisors and investors;
- 90 million (9% TNSR) set aside for development reserves and upcoming fundraising.
A downtrend has been observed over the past two days, even if the technical structure is still evolving. Price action has failed to break above major resistance around the $2.25 mark, which is a crucial level for upside targets.
We anticipate a price range of $2.05 to $1.60 to $1.75 for the consolidation. If the price breaks out over the $2.05 resistance, it may be time to purchase, with $2.45 and $2.65 as possible goals.
The airdrop for Tensor token on April 8 caused a staggering 739.86% price spike in the first day, therefore the current consolidation could be viewed as price movement retracing from a seismic launch – an enticing entry point.
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Conclusion: How Does Tensor Crypto Fare?
Tensor provides a smooth, fast, and expert trading platform. With Magic Eden as its sole rival, it has emerged as Solana’s top spot for NFT launches.
Along with cheap costs, decentralized administration, and royalty-free sales, Tensor already has a thriving community that is actively developing the platform through initiatives like the Tensor Super Fan program.
So, is it a good idea to sell your Tensor bags right away?
The 99Bitcoin team has concluded that Tensor is here to stay, based on their examination of the TNSR price and the platform’s remarkable performance. They predict that the price of TNSR will continue to rise throughout 2024.
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