Tezos (XTZ) Defies Market Trend, Surges 7% in Last 24 Hours
- Its performance is not strongly associated with the rest of the crypto markets.
- XTZ’s market worth has reached its greatest level in the previous two weeks.
In the previous several months, the Tezos blockchain has seen rapid expansion in terms of network usage and transaction volume. It is expected that XTZ will be one of the top performers in the upcoming conditions because of the expansion in the NFT sector.
NFT Trading Volume Peak
Tezos has already established itself as one of the most cost-effective and quickest NFT and smart contract blockchains. As digital art became more popular, many new artists and collectors began using Tezos, fueling the platform’s rapid expansion.
As of May 12th, 2021, XTZ was trading for $1.446, down from $9.16 in October 2021. During the week of May 24th, it was trading at $1.98, indicating modest progress. At its most recent lows, XTZ’s price has accumulated some value. However, the current rally will only get it so near to the resistance line in its downward channel before it starts to fall apart.
Its performance is not strongly associated with the rest of the crypto markets. The latter has seen a lack of price movement in the previous two weeks, though. According to CMC, the Tezos price today is $1.96 USD with a 24-hour trading volume of $79,430,525 USD. Tezos has been up 6.30% in the last 24 hours.
XTZ’s market worth has reached its greatest level in the previous two weeks. Between the 19th and the 21st of May, its whale-based supply reached a low point, but it has since seen a big increase. The Tezos show at Hong Kong’s Art Basel had another busy day. Inquiring minds are enamored with the freshly created NFTs. The NFT trading volumes peaked at the beginning of May and are still solid. Even though this is its lowest monthly volume, it achieved $24 million in total transaction volume on May 23rd.
Read more: https://thenewscrypto.com/tezos-xtz-defies-market-trend-surges-7-in-last-24-hours/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
