- Recently Tezos teamed up with Google Cloud for web3 development.
- Tezos (XTZ) price surged about 3% in the last 24 hours.
Aside from Stablecoins, Bitcoin (BTC), and Ethereum (ETH), other cryptocurrencies are also performing well in the market. Also, crypto investors are already paying attention to alternative currencies, some of which have the possibility of being the next big thing in the crypto industry.
Top amongst these cryptocurrencies, Tezos (XTZ) in the list. A Proof-of-Stake (PoS) blockchain region called “Tezos” is built to expand over time without anticipating a sharp split. Additionally, it was a test that was headed upward in the previous month.
Since its launch in 2018, Tezos, a blockchain platform that utilizes “smart contracts,” has made waves in the cryptocurrency community. But the prolonged bear market has posed a challenge for XTZ as well as all the other cryptos. Also, competition in the market surged due to the new crypto tokens arrivals. However, now investors’ attention has slightly turned toward Tezos native token, XTZ, with a price increase.
Tezos Current Performance
Today, Tezos market performance seems positive, with a price surge of more than 3% in the last 24 hours, from $0.8823 to $0.9088. But since hitting its all-time high in October 2021, the token has fallen by roughly 77% due to the uncertainty that macroeconomic factors have created in the cryptocurrency and broader markets.
It is challenging to predict with certainty whether Tezos will increase after experiencing a period of sharp rises and falls. Still, investors are in a dilemma regarding the market performance of XTZ.
At the time of writing, Tezos/XTZ traded at $0.9025 with a 24-hour trading volume of $13 million, which rose about 5%. When looking at Tezos simple moving average is below 50, which indicates a bearish pattern for XTZ.
However, experts in cryptocurrency believe Tezos could outperform its rival tokens by providing a greater return. Also, after the first quarter of 2023, speculation is circulating about whether this year will be different for XTZ.
Recommended for you
Disclaimer: CryptoNewsBook is an online aggregator that fetches latest crypto news from different sources. This article is provided for general information purposes ONLY and contains data fetched from third party sources; hence, we do not endorse its accuracy. For more details, kindly visit The Source. Please report any fake news or false statement to Our Support Team. If you are the original owner of this content and wish it to be removed on this platform, kindly forward your request to Our Support Team.
Also Note: Cryptocurrencies are unregulated, and no part of this article should be understood nor interpreted as a recommendation/advice. #s6
