Tezos ATH reaches $4.4 with a 17% increase since yesterday while Bitcoin’s dominance suffers and BTC fails to hold the $12,000 level again so let’s find out more in the upcoming Tezos price news.
Bitcoin was not able to conquer the $12,000 and got rejected although most top 10 altcoins are retracing slightly and the rest of the market remained in the green including another all-time high from the top 20 coins. Most of the top 10 coins pulled back including Ethereum, Bitcoin Cash, Bitcoin Sv, Chainlink, and Binance Coin while Ripple is the only coin in the green with 2.5% to above $0.30.
The situation further seems quite different and one valid example is Tezos. After seeing Chainlink painting a few consecutive all-time highs, XTZ Decided to follow LINK’s footsteps and exceeded the previous high reaching $4.41. This increase affected the total market cap of the coin and Tezos ATH hit the 11th spot. Other massive gainers include JUST and Yearn.fiannce as both of them pumped hard after the announcement from Binance that it will list them on the platform.
Bitcoin dropped below $12,000 but the resistance and the psychological level turned out a lot for the main cryptocurrency as BTC reversed and dumped by $500 in a few minutes. The drop to $11,500 could be a buy the dip moment as the bulls didn’t allow further declines and pushed the price upwards. BTC stopped before facing $12,000 and pulled back to a current level of $11,800. This serves as strong support in case BTC tanks again following levels of $11,500, $11,600. If this ascends in value, it will have to overcome the $12,000 which is the 2020 high from a few weeks ago. The next resistance level will be set at $12,300 and $12,500.
As Bitcoin retraced yesterday, most of the other coins gained major chunks of value which impacted the dominance of the asset over the market. The metric dropped to 60% which threatened to dip below 60% which was not seen since 2019.
XTZ utilizes a proof-of-based consensus model that isn’t dependent on mining for its blockchain protocol, unlike Ethereum. Tezos employs a democratic model where stakeholders have a hand in managing the protocol which is known as the self-amending blockchain. One of the big takeaways from this model is that the hard forking is avoided which is the exact same thing that caused Bitcoin cash to break off from Bitcoin and Ethereum to break off from Ethereum Classic.
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