Can You See Tezos as Ethereum Type Competitor? Winklevoss Twins do

Recently when the founders of the Gemini Cryptocurrency Exchange- Winklevoss Twins mentioned that they see Tezos as ethereum type competitor, the crypto-coin XTZ are enjoying a good soar. There was not a detailed discussion on it, but it was good enough to attract a good price push for the crypto token- XTZ. You can check out the Winklevoss twins mentioning about the crypto-coin in the SXSW 2019 video at around 49: 30-time spot.

Initially, the crypto-coin was trading at 0.41 U.S Dollar rate. But as soon as the SXSW 2019 video was released, the price of XTZ token gained a strong boost. This bullish improvement was covered in the Reddit post too. Tezos is the liquid proof-of-stake (LPoS) smart contract platform. The company seems to be having a hunger for further improvement and growth. In the Reddit post, they posted-

“Tezos: Protocol Amendment #1 Discussion Protocol amendment #1 (Athens)- With Nomadic Labs’ announcement of two competing amendment protocols, we have set up a discussion for everyone to participate in. I’ve selected a few volunteers for admins to guide it on Kialo. Everyone else is welcome and encouraged to join in the debate over which proposal offers the network greater value. Hope to see you all there.”

Although it is still showing strong momentum, the crypto-coin is currently trading at  0.4600 U.S Dollar. This serves as an all-time high in the past seven days. There are predictions about a solid resistance around 0.4700 U.S Dollar mark. This eventually may lead to price corrections in the near future.

More from Tezos land-

Recently American cryptocurrency giant Coinbase hired  Luke Youngblood who is the architect of Tezos’s staking model. Also last December, Coinbase announced that it is considering adding XTZ- Tezos’ crypto coin to its ecosystem along with thirty other cryptocurrencies.

Secondly, the good start to this year has boosted Coinbase’s interest in Tezos. In the early March, a real estate portfolio- ‘Elevated Returns’ which is operated by the entrepreneur Stephane de Baets made a great announcement around Tezos. It said that it had 1 Billion U.S. Dollars worth of properties in a store that can be tokenized and released as STO’s, i.e. ‘Security Token Offerings.’ It will be done through Tezos. Stephane de Baets further added that-

“There is no better solution than working on a Tezos-based token implementation. […] We have some very high-profile deals lined up, and we could not afford to compromise the technological product.”

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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