Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

3 reasons why Tezos (XTZ) price broke its downtrend with a 50% rally

Published 12/07/2021, 03:36 PM
Updated 12/08/2021, 05:20 PM
BTC/USD
-
XTZ/USD
-

2021 has been a breakout year for the cryptocurrency market and aside from Bitcoin price soaring to new highs, the emergence of a vast decentralized finance (DeFi) ecosystem and the rising popularity of nonfungible tokens (NFTs) has thrust blockchain technology into the mainstream in a way that looks guaranteed to ensure mass adoption.

One project that has benefited from its focus on NFTs and the ongoing green revolution is Tezos (XTZ), a layer-one smart contract protocol that is capable of evolving its network without needing to undergo a hard fork.

XTZ/USDT 1-day chart. Source: TradingView
XTZ daily transaction volume vs. total revenue. Source: Token Terminal
VORTECS™ Score (green) vs. XTZ price. Source: Cointelegraph Markets Pro

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.