A new player has been gaining attention from various corners of the community. The cryptocurrency, known as $TARA, is being hailed by some as an incredibly undervalued asset that offers true decentralization while maintaining high scalability.
$TARA is currently trading at $0.003131 with a 15% increase in price in the last 24 hours.
Source: CoinStats
$TARA is a part of the Taraxa Project, a scalable, fast, and decentralized Layer-1 network based on Block DAG and is EVM-compatible. The project focuses on leveraging decentralization and AI to solve real-world problems. It is this unique combination of features that has led to a growing interest in $TARA among crypto enthusiasts.
One of the key selling points of $TARA is its impressive scalability. It is reported to have a transaction speed of over 5000 transactions per second (tps), a figure that puts it ahead of many well-established cryptocurrencies. Furthermore, the system requirements for running a node are remarkably low, with no need for expensive servers, only a basic Raspberry Pi.
The Taraxa Project has also been praised for its strong community and effective marketing strategies. The project’s community is seen as a crucial factor in its success, with a focus on risk/reward, narrative, utility, adoption, and branding. The project’s marketing has been effective in spreading the word about $TARA and attracting new investors.
In the competitive world of cryptocurrencies, rivalries are inevitable. There has been some tension between the holders of $KAS and $TARA, with each group promoting their preferred cryptocurrency and criticizing the other. However, some believe that this rivalry could actually benefit $TARA, as it draws more attention to the cryptocurrency and could potentially attract investors from $KAS.
Overall, in the TARA community, most traders and investors agree that TARA can mimic KAS’s recent bull movements.
Despite the competition, there is a call for unity among the different factions within the crypto community. Some voices within the community urge the maximalists of different cryptocurrencies to avoid undermining each other, as it doesn’t contribute to the overall growth of the crypto ecosystem.
In terms of market capitalization, $TARA is still relatively small compared to some of its competitors. However, its rapid growth and the increasing interest from the crypto community suggest that $TARA could soon become a major player in the crypto world.
Top analyst, Crypto Phoenix, recently shared his personal insights on $TARA. He acknowledged the fundamental strength of the cryptocurrency, highlighting its solid foundation. However, he also expressed certain reservations that have kept him from investing in it.
Typical VC Chart.
— Crypto Phoenix (@phoenix_gems47) August 5, 2023
Team Holding 15% of coins seems quite much to me.
Plus it was silent over months and is suddenly shilled all over twitter.
Long retrace after this candle is most realistic outcome IMO pic.twitter.com/1ReltK7XTf
Crypto Phoenix pointed out a few concerns, including the fact that the team behind $TARA holds 15% of the coins, a figure he considers to be quite high. He also noted a sudden surge in the promotion of $TARA on social media platforms like Twitter, after months of relative silence. This abrupt shift in attention raised some eyebrows for him. Based on these observations, Crypto Phoenix anticipates a long retracement following the current surge, suggesting a potential downturn in $TARA’s immediate future.
The rise of $TARA is a testament to the dynamic nature of the cryptocurrency market. As the crypto landscape continues to evolve, it will be interesting to see how $TARA and other emerging cryptocurrencies will shape the future of digital finance.
