Tomb Shares is one of the best performing tokens in the market in the daily timeframe. The cryptocurrency had been declining during the past week; however, the daily price trend has effectively reversed the earlier-established downtrend as it spiked upwards. At the time of writing, TSHARES token stands at a price level of $9,760. TSHARES is highly volatile as the daily high and low stands at $10,714 and $4,798 respectively. The cryptocurrency has increased by nearly 1005 during the past twenty-four hours which is a phenomenal gain. On the other hand, the daily trading volume has declined by 40%.
What is Tomb Shares?
We need to first understand the protocol behind Tomb Shares to fully grasp what the token actually is. TSHARES token is an essential element in the Tomb Finance ecosystem. Tomb Finance is an algorithmic platform built on the blockchain of Fantom and the stablecoin of the platform is not pegged to any fiat currency but rather to the native token of Fantom, FTM. The reason behind pegging the stablecoin to Fantom is because FTM is one of the top projects in the markets and has excellent growth potential.
TOMB is the stablecoin of the platform but there are two more tokens that make the ecosystem complete: TSHARES & TBONDs. TBOND or Tomb Bonds are utilized to ensure the price of the TOMB token stays pegged to FTM. Tomb Shares tokens are the essential building blocks of Tomb Finance as they enable users to have governance rights and help the growth of the ecosystem.
Future Outlook
Tomb Shares’ current price trajectory indicates growth in the upcoming days. Moreover, there are a lot of developments underway on the platform of Tomb Finance which will enable the token to further cement its bullish outlook. The platform is going to launch a new product, TombSwap, by the end of the week which will further increase the efficiency of the platform by enabling users to swap tokens on the Tomb Finance. The new product is also expected to unlock additional liquidity for the platform. There are plenty of other products under development as well – all geared towards further enhancing the growth of Tomb Finance.
In light of the recent developments, future predictions are bullish. According to the estimates of Digital Coin Price, Tomb Shares is expected to end the year above $13k and potentially cross $40k in the long-term window.
