Must be the price of Yobit's exchange, which is obviously fake. Trades of TES on Yobit are manipulated and they are actually trading on a wrong fork of the coin. DO NOT send you TES over there, they will be lost. If you have TES already there, well... you can sell them for this crazy price and enjoy the moolah
Be patient and maybe TES will reach this price on legit exchanges. I don't know if we'll ever see $2.90 TES, but a $1/$1.5 is something we can shoot for without a doubt!
Happy new year!