Meet Tezos (XTZ) – a cryptocurrency which launched one year ago (July 2017) with the promise of being the first “self-amending” cryptocurrency.
During the past 24 hours, the price of Tezos rose by 10% which is an obvious sign that the altcoin is recovering from some recent setback. The bump today could also see the price of Tezos rise again and stabilize.
However, the surge of Tezos (XTZ) was mainly because the altcoin and its internal disputes and class action lawsuits related to its ICO which raised $232 million.
Tezos went from $1.56 to $1.90 in a single day and then went to $2.07 on July 28th before slumping to $1.56 again. Since then, the price of Tezos has been improving and is right now sitting at $1.90 (at press time).
Right now, the cryptocurrency’s fortunes suffered from some conflicts within the Tezos organization and several class-action lawsuits making people believe that the token was a security. Even though the fall made it one of the biggest losers in the last year, it seems like Tezos is recovering really well.
Most of the good news for Tezos come from PwC (PriceWaterhouseCoopers) and their agreement to audit the Tezos Foundation’s finances and enable the foundation to operate with integrity. This would mark the first time a “big four” auditor agreed to audit a large blockchain organization. In other words, it is a sign that the financial service industry is going more and more in line with (the growth of) cryptocurrencies.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
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