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You are here: Home / News / Tezos [XTZ] soars by 68% in 4 days following high profile partnership
Tezos [XTZ] soars by 68% in 4 days after high profile Partnership

Tezos [XTZ] soars by 68% in 4 days following high profile partnership

December 8, 2021 by Lipika Deka

Tezos’s [XTZ] price skyrocketed by more than 68% in a short span of time after the last week’s flash crash that saw major crypto assets capitulating under intense sell pressure. Tezos started the week on a fairly quiet note rising by a modest 10% on 7th December which dramatically changed when the smart-contract platform’s token jumped by 16% in a span of just 15 minutes on massively higher trading volume.

At the time of writing, the asset was changing hands at $5.49 surging by more than an impressive 27% in the last 24 hours. Its market cap was found to be at $4.77 billion. The native token’s 24-hour trading volume stood at $1.52 billion. Let’s delve deeper into the price technicals.

Tezos [XTZ] 1-day price chart analysis

XTZUSDT 2021 12 08 14 47 53

From the above daily chart, the diverging Bollinger Bands [BB] indicator is depicting the possibility of price volatility in the coin market. With respect to the trading aspect, the Relative Strength Index [RSI] climbing just above the half-line is projecting buyers struggle to gain control amidst a minor price pullback Further, the candles flipping to the green of the Awesome Oscillator [AO] is gearing towards a much-needed switch to bullish price movement in the asset market.

Reason behind Tezos’ incredible price recovery

The native token’s overall optimistic outlook is attributed due to the recent announcement of a high-profile collaboration with French video game giant Ubisoft. The gaming entity launched Ubisoft Quartz, a platform where users can purchase unique NFTs called Digits, that can be used in-game and most importantly incorporated on the Tezos blockchain. Further, the press release revealed that the beta version for Ubisoft Quartz is scheduled to launch on December 9, this year.

.@Ubisoft Quartz is built on @Tezos, an energy-efficient and self-upgradable Proof of Stake blockchain.

Learn more at https://t.co/MzfgmL4IrX#Tezos #CleanNFT #BlockchainEvolved https://t.co/XlSEZeVlmM

— Tezos (@tezos) December 7, 2021

The Blockchain gaming sector has emerged as one of the sought-after crypto spaces in recent times and the latest partnership with one of the largest video gaming firms in the world could impact the Tezos ecosystem tremendously.

Filed Under: News, Altcoin News Tagged With: Tezos (XTZ), Tezos price, ubisoft

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