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Tezos price is poised between key suppport around $0.97 and major resistance at $1.28. XTZ bulls could target $2 in April if price breaks higher, or seek support at $0.70. The Tezos blockchain welcomed its 13th network upgrade dubbed Mumbai. The price of Tezos (XTZ) is down roughly 6.2% in the past 30 days, with […]
The post XTZ price outlook as Mumbai upgrade goes live on Tezos appeared first on CoinJournal.
Tezos is a self-upgrading blockchain, but what does that mean? This is certainly something new and fascinating. In this article,...
Tezos, the self-amending proof-of-stake blockchain, and an Ethereum competitor, recently implemented its latest upgrade via Nairobi. In a release, the 14th network improvement went live at block #3,760,129, tagging along platform enhancement and the simultaneous unveiling of the Tezos Ecosystem DAO. Even so, while the upgrade is bullish for network users, there was no significant impact on XTZ prices. As of writing, XTZ, the native currency of the Tezos network, has been lower in the past 24 hours and is yet to reverse June 2023 losses. The Nairobi Upgrade The Nairobi upgrade was the network’s 14th update and a collaborative effort by numerous teams and has introduced several mainnet enhancements that could improve user experience. Teams include Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori. Key improvements tagged by the Nairobi upgrade include enhanced transaction throughput meaning transactions can now be processed faster, and transaction fees will be lower. With this release, the Tezos protocol is faster, as its throughput has increased eight times. This improvement applies to various operations such as transactions, smart contract calls, Smart Rollup maintenance operations, and management operations. Related Reading: Cardano (ADA) Soars 10% In The Last Week, More Rallies Ahead? Moreover, the blockchain now also supports Smart Rollup functions. With new functions and internal Layer-2 messages, Tezos can synchronize rollup kernels seamlessly with future Tezos protocol upgrades. Specifically, the blockchain has also improved its terminology for better communication and understanding. For faster consensus, the upgrade enhances the speed of pre-attestation propagation. Tezos Ecosystem DAO The Tezos community welcomes the Tezos ecosystem DAO to streamline on-chain funds deployment and treasury management for vital initiatives within the Tezos ecosystem. With its launch, the decentralized automated organization (DAO) allows community members to submit funding requests for Tezos-related initiatives. These requests undergo curation, voting, and distributing XTZ. The DAO will be transparent, ensuring all activities are publicly visible to enhance trust and accountability within the community. Related Reading: Kaspa (KAS) Takes Altcoin Market By Storm With 60% Growth Initially, the DAO is governed by a three-out-of-five multi-sig setup, with participating organizations like Trilitech, Tezos Foundation, and Tezos India Foundation holding the keys. Despite all these changes, XTZ prices remain under pressure and trail the performance of Bitcoin and Ethereum. As of writing on June 26, XTZ is changing hands at $0.80, up 13% from June 2023 lows. However, even with optimistic traders, XTZ bulls have failed to push prices above $0.95, marking June 2023 highs. Overall, the cryptocurrency market appears to be bottoming up but is yet to close above crucial liquidation levels marking complete reversals from 2022 pits. XTZ remains bearish, down 45% from February highs, as prices are $0.10 away from December 2022 lows. Feature Image From Canva, Chart From TradingView
According to a recent report by crypto research firm Messari, Tezos has been progressing in its roadmap development, with several new features and upgrades being introduced to the network. The platform’s core developers have announced a strategic shift to hybrid optimistic/zk rollups, with multiple teams committed to building rollups that will enable the platform to process more transactions per second (TPS) and enhance scalability. Tezos DeFi Ecosystem Booms Per the report, the recent launch of the 14th network upgrade, Nairobi, has brought improvements to the platform, new rollup functionality, and enhanced attestations. In addition, Tezos core developers have unveiled the Data Availability Layer (DAL), which operates in parallel with Tezos Layer-1 and ensures data availability while scaling bandwidth and storage capacity. Tezos has also been experiencing growing traction in the Decentralized Finance (DeFi) space, with the Total Value Locked (TVL) nearly doubling in the past year. The platform is seeing the launch of several new DeFi protocols, including novel DEXs, lending protocols, and perps protocols. To further support the growth of the Tezos ecosystem, the XTZ Ecosystem DAO has been introduced to manage and distribute XTZ, Tezos’ native token, to support community initiatives. Nevertheless, despite experiencing a strong Q1 2023, with market capitalization surging from $0.66 billion to $1.03 billion (+55%), outperforming the broader market by 9%, the platform saw a 30% Quarter-over Quarter (QoQ) drop in Q2, ending the quarter with a market capitalization of $0.72 billion, primarily following the SEC’s complaints against Binance and Coinbase. Related Reading: Here’s How Crypto Offers A Lifeline For This Bahamian Payment Company Furthermore, the total crypto market capitalization during Q2 increased by 2%, driven by Bitcoin and Ethereum, which saw a 7% and 6% rise, respectively, propelled by the introduction of Bitcoin Spot Exchange-Traded Funds (ETFs). On the other hand, Tezos’ revenue, measured by total gas fees spent (excluding storage costs), experienced an 82% QoQ decrease in Q2, primarily influenced by a 79% decrease in the average transaction fee. The reduction in the average transaction fee was attributed to the decline of the XTZ price and a slowdown in NFT front-running bidding activities. Fixed Inflation Rate And Burn Mechanisms Tezos’ native token, XTZ, serves multiple functions within the network, including staking, governance, and payment for gas fees. The token has a fixed annual inflation rate of 4.4%, with a total supply of 965 million XTZ. The report notes that Tezos has implemented burn mechanisms by creating new accounts or smart contracts and imposing penalties on misbehaving validators. Moreover, During Q2, Tezos displayed consistent usage levels compared to previous quarters. The network recorded an average of 53,000 daily smart contract calls and 41,000 daily transactions, indicating a 7% decrease and a 1% decline in QoQ, respectively. However, NFTs remain the key driver of activity on Tezos, while DeFi applications continue to see greater adoption. Related Reading: Bitcoin Coinbase Premium Turns Red, US Institutions Disinterested? Conversely, Tezos’ ecosystem experienced mixed activity, with NFTs and gaming remaining relatively flat, while DeFi continues to see increased activity. Regarding decentralization and staking, Tezos has a globally distributed validator set with a high staking rate relative to other base-layer protocols. Looking ahead, Tezos’ strategic shift in its roll-up roadmap, continued developments in the Data Availability Layer, and the anticipated activation of the Hybrid Optimistic/ZK Rollup hold promise for further growth and innovation on the network. Overall, Tezos remains a promising player in the blockchain space, with a robust ecosystem and a growing community of developers and users. Currently, the price of XTZ is $0.810801, representing a 0.41% price decline in the last 24 hours and a 2.06% price decline in the past 7 days. The 24-hour trading volume for XTZ is $15,383,765.48, indicating significant trading activity on the Tezos network. Featured image from Unsplash, chart from TradingView.com
Tezos (XTZ) price is down 2% this past week as cryptocurrencies struggle for direction. XTZ trades near $0.80 and risks declines to $0.65 if bears take control. However, network metrics suggest a resurgence in activity after recent upgrades – which could catalyse upside momentum. Tezos is largely unchanged in the past 24 hours as most […]
The post Tezos price prediction: a look at XTZ and network metrics appeared first on CoinJournal.
While most cryptocurrency prices are down amid the current market downturn, Tezos’ (XTZ) price surged by over 6% in the last 24 hours. In addition, [...]
The Tezos price prediction shows that XTZ is currently pushing higher with 9.04% gains as the coin manages to face the north. Tezos Prediction Statistics [...]
Tezos (XTZ) has risen 27% over the last eight days from $1.0 to highs above $1.284 reached on Tuesday. This rally saw the Tezos price [...]
California's DMV will work with Tezos to build its own private blockchain to make managing car titles easier.
Continue reading California DMV Partners with Tezos for Digital Car Titles at DailyCoin.
The Tezos price prediction renews the bullish trend after crossing above the upper boundary of the channel to touch the daily high at $1.18. Tezos [...]
The Tezos price prediction renews the bullish trend after crossing above the upper boundary of the channel to touch the daily high at $1.18. Tezos [...]
Tezos is a self-upgrading blockchain, but what does that mean? This is certainly something new and fascinating. In this article, we will learn about Tezos, XTZ, its past performance and future prediction, and an analysis of XTZ in terms of being a sustainable investment. Tezos is an open-source, security focussed, self-upgrading platform created with an […]
Tezos (XTZ) network is readying itself for its latest upgrade, called the ‘Mumbai Upgrade.’ On January 17, Nomadic Labs, which is a blockchain developer within the Tezos community, mentioned the Tezos protocol proposal, Mumbai, which is headed toward the implementation process. This will be the 13th upgrade made to the Tezos network. This upgrade will implement various new features. The main features include transfer tickets between accounts and a much shorter block time of 15 seconds. Related Reading: Solana Gleams 30% In Last 7 Days As SOL Bulls Try To Break $21 Barrier Further, this upgrade will add Epoxy, a new technology on Mainnet, which is precisely a validity rollup that can also be referred to as a new layer 2 scaling solution. The Mainnet will gain further strength due to Epoxy, which introduces SNARKs’ proof-of-validity, which will be the reason for quicker transactions. This 13th upgrade, which is called the ‘Mumbai Upgrade’ will be implemented after a number of tests are carried out. However, once implemented, the system will get closer to Tezos’ target of achieving one million transactions per second, according to the Nomadic Lab’s report. The implementation of the upgrade will, as a consequence, increase the value of Tezos’ native token XTZ. The price of the altcoin, XTZ, has reacted positively to this development. XTZ experienced a price reversal, but the altcoin has since resumed its bullish momentum. Tezos Price Analysis: One-Day Chart XTZ was trading at $0.99 at the time of writing. Although the coin started to retrace over the 48 hours, it has regained bullish momentum on the chart. The altcoin has formed a prominent cup-and-handle trading pattern, which is an extension of bullish momentum. This change in price momentum can be attributed to the announcement of the ‘Mumbai Upgrade’. Immediate resistance to XTZ stands at $1.02, but the coin is expected to retrace to $0.97. Once it reaches the $0.97 mark, Tezos can target $1.19, which will mean an 18% appreciation. Over the last week, the coin managed to surge over 8%. The amount of XTZ traded in the last session increased, signifying an increased amount of buying. Technical Analysis XTZ had secured a multi-month high with regard to the buying pressure it witnessed. The Relative Strength Index (RSI) touched the 80 mark a few trading sessions ago, signifying an overvalued tendency. Often, a coin that is overbought experiences a price correction and a fall in demand; Tezos also displayed the same, but at press time, the RSI again noted an uptick. This uptick could mean that the altcoin might head back close to the 80-mark. This unusual uptick can be because of the newest development. On the same note, XTZ rose above the 20-Simple Moving Average (SMA), which indicated that buyers were driving the price momentum. Related Reading: Bitcoin Drops To $20,700 As Miner Outflows Surge The coin was above the 50-SMA (yellow) line too. So with increased accumulation, XTZ can soon breach the 200-SMA (green) line. Overall, Tezos remains quite optimistic on the chart; however, the coin has to remain above its local support line of $0.97 for the uptrend to continue. Featured Image From UnSplash, Charts From TradingView.com
Nomadic Labs, a prominent blockchain developer within the Tezos community, recently revealed that their latest Tezos protocol proposal, referred to as “Mumbai,” is now ready for implementation. According to the post, the main feature of the protocol upgrade proposal introduces the activation of smart rollups and the ability for anyone to deploy decentralized WebAssembly applications. It also […]
XTZ, the native token on the Tezos blockchain is now available to buy, sell, and trade on local platform PDAX.
The post PDAX Lists Tezos (XTZ), the Platform’s First Listing for 2023 appeared first on BitPinas.
XRP, ADA, SHIB, XTZ, and DOGE are worth keeping an eye on in 2023. 2022 has gone against the predictions of several industry pundits who expected crypto assets to continue to create new highs. Notably, unfavorable macroeconomic conditions have led to significant losses for crypto investors. As veteran trader Peter Brandt asserted in October, every […]
The post 5 Altcoins Under $1 To Watch Out For In 2023 first appeared on The Crypto Basic.
Cardano [ADA], Polakdot [DOT], and Tezos [XTZ] are now listed in leading crypto derivatives and spot exchange BitMEX. Besides ADA, users will also be able to deposit and withdraw Shiba Inu [SHIB], Chainlink [LINK], Tron [TRX], Solana [SOL], Polygon [MATIC], and many other cryptocurrencies, via BitMEX wallet. The cryptocurrency trading platform founded in 2014 by […]
We are currently in the bear market for cryptocurrencies. Due to the structural change, the majority of the coins listed indicate a price in a [...]
Tezos is a self-upgrading blockchain, but what does that mean? This is certainly something new and fascinating. In this article, we will learn about Tezos, XTZ, its past performance and future prediction, and an analysis of XTZ in terms of being a sustainable investment. Tezos is an open-source, security focussed, self-upgrading platform created with an […]
The Red Devils score a deal with Tezos in spite of the continuing crypto market bleed.
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