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Tezos Price Summary
Tezos (XTZ), at the time of writing, was trading at a 24hr low of $1.93 and a 24hour high of $2.08 with an estimated market cap of $1,487,815,597. This cryptocurrency has come a long way in a short timeframe. In the year 2020, Tezos managed to rise again and stabilize.
Like other digital currencies, Tezos was affected by the recent cryptocurrency bear market and fell into a period of high volatility. However, it fared better than most. In 2020 Tezos has been on the rise with optimistic price projections that could see the digital currency reach a new all-time high.
Due to Tezos’ ability to stay relevant despite the bear movements has continued to gain the coin some considerable popularity. However, it is essential to remember that cryptocurrency markets are notoriously volatile and should be approached responsibly and with risk assessment in mind.
Tezos Price History
At the end of July 2017, Tezos raised $232 million in one of the most high profile initial coin offerings to date. In recent years Tezos has been dipping and rising but never quite attaining a new record high. In 2020, it’s expected by many enthusiasts to grow from the slump and move towards a much higher market value.
Tezos had one of the best ICO’s of 2017. This impressive feat was, however, overshadowed by the contention that followed. The news was eclipsed by legal battles between the founders of Tezos, Arthur and Kathleen Breitman, and the Tezos foundation appointed head, Johann Gevers.
This event went on to delay the release of XTZ tokens to investors and the network’s launch. Many became somewhat wary of Tezos during this period. However, when the network was up and running, interest began to rekindle, and the subsequent growth of Tezos exploded.
In October of 2017, Tezos tokens hit the exchange market, and the cryptocurrency surged to three times its ICO price of $0.51. By mid-November of 2017, Tezos was hovering between $1.50 and $2.50 before seeing massive growth as the crypto market boomed. By the end of 2017, the token was trading at an all-time high of $8.82, and the market capitalization of this digital currency grew enormously.
However, just a week later, Tezos lost nearly two-thirds of its value. In 2018 the digital currency experienced a short-term growth value of $6, but this went on to drop and hover between $2 to $3 by mid-June.
Amidst the litigation between the head of Tezos and its founders, the digital currency attained two exchange listings. This contributed positively to the price performance of XTZ in August of 2018. Tezos was hit hard by the bear market, and by the end of the year, it was trading at $0.476. The token continued to experience unpredictable gains and losses throughout much of 2019.
The global pandemic has seen a lot of positive attention drawn towards cryptocurrencies. This is in part because crypto markets afford traders and investors a greater sense of security compared to traditional fiat trading markets, which haven’t been faring as well during COVID.
Additionally, Tezos has gained positive attention through its community research pool. Whereby it has offered a reward to the community member who provides the most resources to pandemic research. This shines a positive light onto Tezos, and more companies and individuals are starting to see the benefits that this decentralised blockchain can bring.
Tezos Price Prediction
When looking at Tezos price predictions for 2020 and beyond, it is crucial to remember to remain vigilant of current influencers and situations. To succeed in the crypto markets, appropriate caution is necessary to avoid unnecessary risks.
It is essential to consider a few key factors that play a role in the cryptocurrency’s developing projections. Global events, expert opinions, and various technical analysis tools should be carefully examined to understand how the Tezos market is trending and where it is set to go.
Tezos started 2020 off well with high market gains, and this is due to the digital currency experiencing a bullish period so far. In late February, XTZ was trading at $3.6 before the minor crypto crash of March 2020, which caused it to dip to $1.25. By the end of May, it had recovered to trade just below $3.
The recent global pandemic caused volatility on the crypto markets in March of 2020. Tezos trading value dropped from $3.6 but soon stabilized. More investors began to turn to crypto trading as it tends to offer more security than fiscal currency markets.
Many experts have weighed in on what price range Tezos is predicted to potentially reach. These predict that depending on market trends, the digital currency could enter a trading price range of $1.25 to $8. XLM is at the time of writing trading in the $2 range with high expectations of further growth before the end of the year.
Numerous technical analysis charts predict that Tezos is heading towards a price point near its 2020 high of $4.5. They reveal how Tezos managed a 300% bull rally towards $4.5 just months after the crypto crash. This improvement is mainly due to the digital currency experiencing increased trading volumes and transactions. Several analysis indicators are predicting that a significant bounce could be underway. If Tezos can break above the resistance level, then a breakout could occur, leading to higher market trading prices in the year ahead.
Experts supported by relevant data have speculated that 2021 will usher in a period of exponential growth for Tezos. This speculation surrounds inbound development and adoption. XTZ may trade considerably above the $8 mark, and we could see this digital currency trade within a high range of $12 to $15.
Should Tezos manage to capture and hold even a small percentage of the expected dApp industry growth, it could gain significantly. By maintaining it’s decentralised governance when growing with the emerging market, XTZ could reach as high as $24 by 2023.
Expert Tip on the Price of XTZ
Tezos is unique in it’s belief that hard forks shouldn’t be the standard way that a system is upgraded. Unlike other cryptocurrencies, Tezos is a self-amending cryptographic ledger that can expand according to various industry needs. The network allows for on-chain governance, which provides a number of benefits. The native smart language, called Michelson, allows for formal verification that is often used in highly critical environments like nuclear plants and aerospace projects. The Tezos platform also ensures code correctness and safety for high-value use cases. Tezos has a lot of crypto enthusiasts and financial investors excited due to it’s huge potential for future relevance.
Tezos was co-founded by Arthur and Kathleen Breitman in 2014 and officially launched in 2017. Tezos is a open-source blockchain platform for assets and applications and can evolve by upgrading itself. This decentralised network makes use of a proof of stake consensus system.
The Tezos platform allows for creating smart contracts and the building of decentralised applications that cannot be closed or censored by third parties. Additionally, this digital currency is unique in that it requires those who use its platform to participate in achieving consensus, or their assets are at risk of losing value due to inflation of the network.
The cryptocurrency Tezos has many partnerships and use cases. These enable potential future price growth as more investors become attuned to this blockchain cryptocurrency’s relevance in the real world. In 2019, Banco BTG, together with Dalma Capital, announced plans to utilize the Tezos blockchain technology for security token offerings.
Furthermore, Elevated Returns announced in 2019, that after a careful selection process, they had concluded that they would be using Tezos as the blockchain for which it will offer tokenized real estate to qualified and compliant investors. With Tezos gaining more projects and uses globally, it could become more relevant, attain a more extensive community base, and attract more investment.
Tezos Value Compared to Other Cryptocurrencies
At the time of writing, a single Tezos token is worth $2.08. However, cryptocurrencies experience volatility, so it is important to check the value of XTZ regularly.
Most brokers charge low fees between the range of 0.25% and 5%. A few brokers charge more than this for extra services.
According to expert opinions, 2020 could be an excellent year to invest in Tezos; however, nothing is guaranteed due to market volatility.
The Price of Tezos is influenced by many factors, including world events, news items, and cyber-attacks.
Tezos brings an evolution of blockchain technology in the way that the network is governed. It’s approach to gathering information and research on the coronavirus in particular showcased the massive potential that this cryptocurrency has for the future.
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