Tezos tests new all-time highs in a very enthusiastic wave after it increased more than 54 percent in a period of seven days as we see in our Tezos news.
The data from Coin360 shows that Tezos tests a new price level high after the XTZ token hit $3.24 which is a 25% increase in the past twenty-four hours alone which means a 54 percent increase in the past week. The investors had made a return of more than 150 percent in a year which makes Tezos the hot coin among other altcoins which have broadly followed Bitcoin to see a lot of successes in the first quarter of 2020.
With downward pressure on the Bitcoin markets, the last week started failing and dropped so the XTZ bull run was silenced quite a bit and the altcoin became a firm pick on many of the crypto analysts. In the last 30 days, the Tezos price gained more than four times what Bitcoin added in the same period. Even though the Tezos price positions were unexpected for many, the XTZ cryptocurrency made over 60% in gains and the market determining the most dominant coin (Bitcoin) spiked by 17% against the US dollar. One in particular, popular among the crypto community as Mati Greenspan, commented:
“Tezos unaffected,” he told subscribers of his Telegram trading channel on Monday as BTC/USD dipped to $9,700.Tezos is one of the fastest rising blockchain networks at the moment and for good reason and we’ve been overhanded on it since the beginning of the year. Many of the new security token offering (STO) and tokenization projects are being built on it and the token economics are quite favorable as well.”
Tezos tests the new price levels after reaching the headlines over the previous months and not for a good reason, following the insanely popular $232 million initial coins offering back in 2017. As DC Forecasts reported, the investors became extremely frustrated very soon after by the lack of the returns made available by Tezos, while the altcoin had a hard time battling many legal challenges and company infighting. At one point, the XTZ/USD pair even traded at just $0.37 which is below the ICO price of $0.47. Despite its many difficulties, Tim Draper who is a popular venture capitalist and crypto supporter, became a synonym for Tezos because he provided support for both the project and the creators.
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