Tezos (XTZ) is a new network that allegedly claims itself to be the world’s first self-evolving blockchain which is capable of enhancing itself with the latest technological developments through its on-chain governance structure and facilitates formal verification along. The basic unit of the Tezos blockchain is the Tez, a cryptocurrency which is used to power its growing decentralized application (DApp) ecosystem. Tezos incentivizes user participation in the core development process. Unlike other cryptos, Tez tokens cannot be mined; rather, shareholders are rewarded with these.
Tezos is the 19th largest cryptocurrency in the crypto market based on its Mcap value of USD 524,172,198 at 05:34 UTC, which is deduced from the circulating supply of 665,187,094 XTZ coins out of a total supply of 788,855,339 XTZ coins. According to the stats from CoinMarketCap, XTZ is trading with its MCap value of USD 539,959,539 for a 24h volume of $5,247,565. The price of the cryptocurrency as on March 29 at 12:14 UTC is 0.811741 USD or 0.00020120 BTC. The market, on the whole, is stable and has been majorly linear. The Mcap value has been bound to range between USD 160 million and USD 320 million dominantly until March 19. The market was at its lowest on February 09 at 00:34 with the value of USD 229,030,426 and trading price of 0.377012 USD. However, the market has drastically increased and reached its pinnacle on March 22, where the MCap value exceeded 450 million USD and reaching USD 536,470,727, which is 2.29% higher than the present day value. The price value of the cryptocurrency was as high as 0.808842 USD. The 20- day EMA also shows an uptrend with the increase in MCap value and the selling price from USD 252,467,578 and 0.415592 USD on March 09 to the current value, a hike of 100% and 50% respectively. This pushes the cryptocurrency into the bullish market.
Though the current trend shows a stable increase, Wallet Investor analyses and paints a concerned image for Tezos’s future, it predicts that XTZ would be devalued by next year and would dip by more than 76%. On the other hand, technical analysis from Trading Beasts indicates a short term bearish pressure on the market; however by the end of 2091, the market is expected to grow to 1.33 USD. Twitter predicts Tezos could sell for 20,000 USD if it could capture the minimum amount of 10% of the global payment market. Crypto ground expects an improvisation in the cryptocurrency’s market by 2020, where the price might exceed 1.30 USD bringing significant returns to the industry. And by the end of 2023, XZT would reach as high as 24 USD.
The current market trend along with these estimations gives bright hope on the future of the cryptocurrency especially to the merchants and the investors. The comprehensive market shows a positive outcome with inflation in values for the years to come. This result backs the trading values and gives hope for the growth of the cryptocurrency in the future. The current market looks beneficial, and these predictions add more reliability to the cryptocurrency. Nonetheless, the investors are advised to step forward and make use of the current market of this cryptocurrency to earn continual maximum profit in the future.