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You are here: Home / Archives for Tezos price

Tezos price

Tezos Performance Set to Out do Bitcoin Performance in 2020

May 16, 2020 by Arnold Kirimi

Bitcoin has outperformed almost every other asset in the market so far this year. The flagship digital currency is on track to one of the best bets this year. After its price dipped massively back in March due to a coronavirus driven sell-off, the price of BTC has surged by about 30 percent so far in 2020. Regardless, Tezos performance is set to outdo bitcoin performance after almost doubling its price since January.

In addition, the majority of analysts are anticipating for the altcoin to surge even further. Tezos, which trades by XTZ, has surged by a massive 85 percent since the start of 2020, adding to the 2019 gains to give XTZ a total market cap of about $1.8 billion. Back in January, Tezos was the 15th most valuable digital currency according to Coinmarketcap. Currently, the cryptocurrency has broken into the top ten, and is set to surpass its rivals if its impressive rally continues.

Real estate tokenization and security tokens opting for Tezos blockchain

Tezos, which uses the proof-of-stake model has surfaced as the preferred blockchain and digital currency for tokenized real estate and security tokens. According to the founder of Quantum Economics, Mati Greenspan who is a holder of Tezos himself:

“Tezos seems to be one of the most popular platforms for new projects to build on at the moment..Several projects that I’m currently advising are using it. As well, the tokenomics are structured in a way that a lot of the incoming supply are diverted to staking and taken off the market.”

It has been reported that Bitcoin miners who run the Bitcoin Network, have closed shop since last Monday’s halving event, shifting their focus to other digital currencies. As for Tezos, which unlike Bitcoin uses a proof-of-stake rather than the proof-of-work cannot be mined the same ways as Bitcoin.

As for proof-of-stake blockchain networks, they are believed to be more expansive and do not require a lot of energy, as miners are not required to solve complex mathematical puzzles to mine the blocks. Additionally, Tezos incentivizes holders participation in the network’s security. 

“Tezos is not a proof-of-work based coin, so it can’t be mined. However, it is one of the more promising projects to come out of the initial coin offering-era, which gives it an edge in times such as these, when the bitcoin price appreciates and lifts the market for a select-few, quality projects,” stated Joe DiPasquale, CEO of hedge fund manager BitBull Capital.

Tezos performance boosted by XTZ staking services

Furthermore, Tezos performance has been boosted by various platforms that have offered XTZ staking services in recent months as per the BitBull Capital CEO. He cited Binance.us adding that staking helps boost the price of the token.

Moreover, the minor cryptocurrency which began its bullish run November last year, has massively reaped the rewards of key partnerships in the financial industry. In particular, the Tezos Foundation’s Faucet which rewards XTZ holders with almost 0.01 XTZ every 12 hours; has been a massive boost. 

Filed Under: Altcoin News Tagged With: Bitcoin (BTC), Tezos (XTZ), Tezos foundation, Tezos price

Tezos Foundation Decides to Settle Multiple Lawsuits to put Behind “Meritless” Legal Battles

March 22, 2020 by Utkarsh Gupta

Over the past three months, Tezos Foundation’s XTZ has been one of the most successful altcoins in the space. The asset entered the top ten cryptocurrency list as well ousting the likes of Cardano, Stellar and Tron on the way.

However, things haven’t always been completely smooth sailing for the foundation.

After conducting an incredibly profitable ICO of $232 million back in 2017, the situation got worse in July 2018, as the foundation was slapped with multiple lawsuits, claim that the ICO was an illegal and unregistered securities offering.

Now, according to a recent blog post on Tezos Foundation, the organization has entered into a settlement of all the class-action lawsuits. The blog post read,

“The Tezos Foundation chose to settle all claims because the Tezos Foundation believes it is in the best interest of the Tezos project and community as a whole. The Foundation continues to believe the lawsuits were meritless and continues to deny any wrongdoing.”

The foundation also emphasized on the fact that class-action lawsuits were intensely cost-heavy and time-consuming with deters the development of the space. Hence they agreed on a one-time financial payout for the settlement rather than continuing legal battles in the courts and carrying the brunt of the expenses.

The settlement is currently pending approval from California state and federal courts.

Tezo’s Rise Since November

Tezos first burst onto the scenes back in November 2019, when the asset registered a growth of 55 percent, incurring a substantial rise in terms of its market value within 7 weeks. During the same period, major assets such as BTC and ETH suffered massive dips but XTZ maintained its periodic rise.

A report suggested that the periodic rise was due to the increasing number of addresses with small balances of Tezos, which could have contributed to the rise in valuation.

The data indicate that from the period of August 2019 to December last week, the number of addresses hiked from under 60,000 to over 100,000, indicating a growth of almost 30+ percent.

On December 15th, the number of addresses with 0.1 XTZ had increased over 105,000. Earlier, Coinbase has also exhibited its support for Tezos staking on its platform, which may have boosted its market value as well. Taking a leaf out its book, Kraken and Binance followed its path as well, and the potential in the Tezos foundation was identified.

With major exchanges extending their commitment to the foundation, it is imperative for the organization to clear out its legal battles in order to sustain development for the virtual asset.

 

Filed Under: Industry Tagged With: Binance, Class-action Lawsuits, Coinbase, lawsuits, Tezos (XTZ), Tezos foundation, Tezos price, XTZ

Tezos Extends Gain as Bitcoin and other Cryptocurrencies Struggle

February 4, 2020 by Arnold Kirimi

Moreover, Tezos (XTZ) has surged up by nearly 400% in the last 12 months. This huge rally has been driven by the firm’s numerous partnerships with financial institutions across the globe. Meanwhile, as Tezos price is becoming stronger; Bitcoin (BTC) has been straining to break back over the psychological $10,000 mark.

The world’s most popular cryptocurrency has risen only by almost three folds in the last 12 months. On the other hand, Tezos price has rallied up by over 400%; surging from just $0.40 per tezos token in February 2019 to over $2 today.

Over the past 24 hours, Tezos (XTZ) has surged by almost 24%. The bullish run has allowed the digital currency to finally turn the $1.80 resistance level into support. This significant price barrier was preventing XTZ from soaring higher since September 2018, when it was launched. This rise has taken Tezo’s market capitalization to around $1.4 billion. It currently seems to be preparing for a parabolic move.

TEOZ

Infact, an inverse head-and-shoulders pattern seems to have formed on XTZ’s 3-day chart. This technical formation estimates a momentum reversal to become bullish. This move above the $1.80 resistance level; known as the neckline, might be the fuel to a significant price increase.

XTZ Closing the Gap to Top Ten

Moreover, during the start of the year, Tezos was ranked as the 15th most valuable digital currency. At the moment, the token is ranked at the 11th most valuable cryptocurrency. It is within touching distance to make it to the top ten.

The token, which brands itself as a “self-amending cryptographic ledger” on top of using the proof of stake consensus model; has turned up to be the favored blockchain and cryptocurrency for tokenized real-estate and security tokens.

In addition, Tezos holders can “stake” their XTZ and get more tokens as a recompense for creating and verifying new blocks in the chain.

What has Pushed Tezos up?

The rally which commenced back in November last year has been fueled by the many partnerships in the financial industry; on top of Tezos Foundation’s Faucet, which awards users up to 0.01 XTZ every 12 hours.

Back in 2019, Brazil’s BTG Pactual bank and a Dubai-based asset manager; Dalma Capital announced a partnership with Tezos for blockchain for security tokens. Furthermore, Elevated Returns announced it will use Tezos to tokenize its real estate based in Aspen.

The XTZ tokens started trading back in  2017 during the global bitcoin and crypto-mania. The Switzerland-based Tezos Foundation raised $232 million during its initial coin offering (ICO). During its peak, Tezos was worth just a little bit over $10. However, during the so-called Crypto winter of 2018-2019, the token lost almost 95% of its value.

Overall Market Thought

Basing my argument on Crypto Fear and Greed Index, cryptocurrency traders seem to be immensely bullish over Bitcoin. In fact, this technical index has discerned huge greed among traders within the last few days. Greed is perceived to be a negative sign, which means that a selling opportunity might come soon. Warren Buffett at a time said, “be fearful when others are greedy and greedy when others are fearful.”

 

Filed Under: Altcoin News, Market Analysis Tagged With: Bitcoin (BTC), Crypto Adoption, Crypto Price Tracker, Tezos (XTZ), Tezos price

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