Following the implementation of a new framework for offshore stablecoins by Japan's Financial Services Agency on June 1st, Telcoin has once again come into the market's spotlight. Driven by related expectations, TEL rose by about 20% at one point during trading, and the market began to focus on whether its eJPY stablecoin would have the opportunity to be included in the new electronic payment instruments.

New Japanese regulations draw attention

Under the new regulations, some stablecoins issued overseas can be recognized as official electronic payment instruments, and eligible products may no longer be treated as securities. This change is seen by the market as a more favorable signal for payment-oriented stablecoins.

Telcoin subsequently publicly welcomed the framework, mentioning that eJPY could potentially benefit from it. While the specific scope of application and implementation progress remain to be seen, discussions surrounding TEL on social media platforms have clearly intensified, and buying interest has also rebounded accordingly.

The price recovered from $0.002.

Looking at the price trend, TEL has been gradually recovering since the beginning of May, finding support around $0.002 earlier. Since then, the price has slowly risen along an upward trend, indicating a return of funds.

The recent pullback to the trendline did not break the structure; instead, it provided support for the current rapid upward movement. As news unfolded, TEL's short-term gains expanded rapidly, once again attracting traders' attention.

Watch for a target of $0.0035.

If buying continues, TEL needs to break through the 200-day moving average before it can further test the area around $0.0035. If the upward trend continues, $0.004 will become the next important level to watch.

Currently, demand for TEL has improved, but whether it can form a more sustainable upward trend still depends on whether subsequent funds continue to follow up and the actual applicability of the new Japanese regulations to eJPY.