- Tomb (TOMB) and Tomb Shares (TSHARE) market price declines.
- TSHARE dip to more than -50%.
- Bitcoin trades below $35k.
The crypto space is now experiencing a market bloodbath and it is felt in every corner of the market. The Tomb (TOMB) and Tomb Shares (TSHARE) networks are some of the biggest digital assets in the Fantom space that were hit hard by the bearish market. In detail, TOMB, which is a crypto peg to the price of Fantom (FTM) has been under peg for several days now.
Furthermore, TSHARE, a digital asset in the TOMB network, also plummeted its price to more than 50%. Currently, TSHARE trades at a low price of $7.5K from the high price of $20k in the past weeks. Indeed, this is a price performance that could spread FUD among its network community including its investors.
This made DeFi Signals, a Twitter (NYSE:TWTR) member that provides market updates react in a tweet post,
$TSHARE crashes more than 50%. Price of $TOMB has been under peg for several days now. End of $TOMB is nearing?DeFi community on Fantom seems to be moving away from #tomb to other, more reliable platforms! #fantom #ftm $ftm pic.twitter.com/ZqWWOjLNOl
— DeFi Signals (@DeFiSignals) January 24, 2022
The tweet posted by DeFi Signals exposed the current situation of the TOMB network. “$TSHARE crashes more than 50%. Price of $TOMB has been under peg for several days now. End of $TOMB is nearing?”
On the other hand, TOMB and TSHARE are not just the crypto assets that experienced the wrath of the bearish market. The king of crypto assets, Bitcoin also bends down its knees on the market dip when it plummets below $35k. This price performance of BTC records a decline rate of over -22%, a price level that the global investors do not favor.
At the time of writing, Tomb Finance ranks sixty-fourth in the TVL standing made by the Fantom network.