Fyggex

Local crypto news

Affiliate

Affiliate

News The World Uncategorized

TEZOS: This minor crypto grew by 400% reaching top 11

Image: Geralt

Tezos is by market cap the best-gainers among the top 20 cryptocurrencies over the last 1 week. Tezos value has seen a substantial increase to the positive side over the last few months. The latest increase of nearly 40 per cent pushed (in one month) Tezos market cap to 11th position on the top cryptocurrencies. As per Forbes, data from CoinMarketCap, Tezos was the 15th most valuable cryptocurrency by market capitalization at the beginning of the year, but has now risen to 11th and is in striking distance to reach top ten. 

Based on the trading volume, it seems that Tezos is gaining more bubbling pace. Once the market continues to follow the bullish sentiment, should expect the price to keep increasing. Tezos was trading below 1 dollar in early november 2019 as per coinmarketcap and in a span of 3 months has surpassed 2 Dollar mark gaining value above 100 percent. Below is Tezos 1 year chart.

Image source: coinmarketcap

It’s important to bear in mind, however, that the upward momentum may soon end, which could trigger a substantial price drop. A weak sign might push sellers back onto the market. But Tezos remains optimistic at the brief-term trend as of now.

In the last five days of trading against Bitcoin, Tezos has also seen a dramatic climb. The price of Tezos is up 18.85 per cent against Bitcoin.

According to Forbes While Bitcoin, the world’s most valuable and unique cryptocurrency, has risen nearly three-fold over the past 12 years, Tezos rallied some 400 percent  from below $0.40 per Tezos token in February 2019 to just over $2 currently. Tezos ‘ XTZ tokens started trading at the peak of global bitcoin and crypto euphoria in late 2017, after the Swiss non-profit Tezos Foundation raised $232 million in an initial coin offering. Tezos was valued at a little over $10 per XTZ token at its height, but dropped over 95 per cent of its value across the 2018-2019 devastating so-called crypto winter.

Disclaimer: Fyggex, does not give any guidance, advice or recommendations to neither invest or not in any available cryptocurrency directly or indirectly via any trading platform, exchange or provider. Our sole purpose is to make you aware of the related real or potential risks and opportunities so that you can make your own research prior to any financial decisions you may want to take. Past performance and position are not a guarantee of risk-free future returns.

Sources: 
https://www.forbes.com/sites/billybambrough/2020/02/03/as-bitcoin-fails-to-breakout-this-minor-cryptocurrency-has-surged-by-400/#6834875a6fd3
https://finance.yahoo.com/news/tezos-price-smashes-past-2-154224583.html
https://coinmarketcap.com/currencies/tezos/ 

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *