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Price Analysis

Tezos (XTZ) Price Analysis: Slow & Steady Wins The Race Might Come True For Tezos

Tezos (XTZ), an auto evolving multipurpose blockchain, offers creation of smart contracts and decentralized applications. Formal verification is required every time it’s used assuring full proof security and reducing the cost of bug-ridden code. The auto-upgrade feature also facilitates the integration of future amendments convenient and seamless. Built on OCaml programming language, Tezos is developed by Arthur Breitman, ex-Morgan Stanley & ex-Goldman Sachs analyst, who believes that on-chain governance is a key driver of innovation in Blockchains and Tezos was the first to really push the idea through its proof-of-stake consensus algorithms.

Current Statistics:

Tezos ChartIt is certainly bullish for Tezos as it continues the upsurge. Defying all odds and overcoming the testing times, the coin has secured 16th position in the top 100 cryptocurrencies list by the CoinMarketCap leaving behind ETC (Ethereum Classic). The numbers are further reassuring. As on Wednesday, April 17, 2019, at 15:14:02 UTC, XTZ’s market capital is recorded at USD 791,642,395, ROI stands at -30.30% and total coin circulation were 662,055,854 XTZ. The 24 h volume is USD 5,786,959, and the value of each coin in terms of USD and BTC is USD 1.20 and 0.00022950 BTC. In no time, XTZ can be expected to move past Bitcoin SV and Monero to secure its position in the top 12.

Comparison:

Tezos has been able to cross the USD 1 mark and maintained it throughout the week. Although the coin has shown a downtrend in the past one month, the market capitalization has increased tremendously. The weekend also recorded a huge price upswing which restores investors trust and maintains their interest. The record-high of $232 million fundraising amount in 2017 ICO (Initial Coin Offering) is a mere reflection of the potential of this crypto, and as the founders claim, they have just scratched the surface of the blockchain platform, and there is a lot more innovation and possibilities in this self-amending security based platform.

Prediction:

It’s getting better for Tezos with each passing day. Kraken announcing addition of XTZ ensured brings it at par with BTC and ETH. Very recently, Coinbase Custody also announced the launch of Tezos ‘baking’, bringing focus from key investors and analysts. It can be expected to grow steadily in the next two quarters and reach USD 1.50 by the end of the year. The performance also depends on its peers, mainly BTC and the price may fluctuate relatively between USD 0.80 to USD 1.20 in the coming days. In case the coin survives these bumpy rides full of ongoing legal issues & continues to gain & grow support from the community, it might touch a high of USD 100 – USD 500 by the end of 2022.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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