Tezos blockchain, which holds the record of the highest ICO, also holds a controversial history. Tezos (XTZ) is among the programmable blockchains that run on tiny pieces of self-executing code called ‘smart contracts. The blockchain follows the PoS(Proof-of-Stake) consensus algorithm and rewards the validators who stake their XTZ coins.
XTZ is the native cryptocurrency of the blockchain used to stake and earn rewards. The Tezos coin underwent a notable journey since its inception. The price maintained decent levels of volatility since inception and hence carries a notable ROI above 700%.
What is Tezos(XTZ)?
The Tezos blockchain was first created by the couple Arthur and Kathleen Breitman in 2014. They founded Dynamic Ledger Solutions, a start-up, initially, specifically meant to develop Tezos. Much similar to Bitcoin or Ethereum, Tezos is also a blockchain but differs a little in its functionalities. Tezos is a blockchain that operates using smart contracts and is linked to its digital token called ‘tez’ or ‘tezzie’ or ‘XTZ’.
Did You Know: Tezos is derived from an ancient Greek work which is another term for Smart contracts according to the developers.
Tezos aims to offer an advanced decentralized network that intends to overcome the shortcomings of Bitcoin like lack of flexibility and scalability. The Tezos team held an ICO in July 2017 and raised nearly $232 million which is considered the largest ever ICO at that time. Further, the blockchain went live to the public in 2018.
Fundamental Analysis of Tezos(XTZ)
One of the features that distinguish the Tezos blockchain is its governance. Unlike the other blockchain that relies on their developers or the mining team, Tezos intends to be completely decentralized in decision-making. The users propose, vote and pass the protocol development process.
Interesting Fact: Tezos tags itself as a ‘Self-Amending’ blockchain with the idea that people who own XTZ can propose and vote for changes without any need for in-person discussions.
However, along with these, Tezos was once surrounded by huge controversies that were initiated just after the ICO. As following the ICO, a significant dispute broke between Tezos President Johann Gevers and the founders for intellectual property rights. This dispute delayed the launch of the Tezos platform. The frustrated investors dragged the Tezos team to court and sought a refund. After going through all the odds Tezos was finally launched in 2018.
Will Tezos Price Hit $10 in 2021?
Tezos(XTZ) price had a huge roller coaster ride in 2021 by surging to greater highs and slicing down to bottom levels. The XTZ price before stepping in the 2021 trade was also trading in a strong position, while the bull market escorted the price to the levels very close to $10. However, the XTZ price failed to secure a 2-digit price tag a couple of times.
Currently, the XTZ crypto price after smashing the highs at $9.47 suddenly fell into a bearish trap. The gains were just sliced and the price revisited the bottom levels around $3.1. However, the asset since the last trading day intends to flip from the bearish divergence and initiated with a rebound. But, before validating with the uptrend, the XTZ price needs to secure some mandatory levels above $5.
Factors Affecting Tezos(XTZ) Price Today
Tezos’s (XTZ) crypto price seems to have prepared hard for the next leg up with huge bullish momentum. The current accumulation appears to be pretty healthy as the support levels stay elevated. No doubt the selling volume is still on the higher side, yet the bulls may wait for some more time before they make a grand entry.
Considering the technicals, the RSI after following a significant downtrend is now slowly rising high. Once the RSI level reaches the mid-way or the average levels, the uptrend may be validated. On the other hand, no notable bullish trend is indicated by MACD as the selling pressure is still mounted on the platform. Yet by reaching the lower levels, the asset tends to flip which may happen any time from now.
Where to Buy Tezos(XTZ)
Tezos(XTZ) cryptocurrency is among the popular crypto assets in the market. Therefore most of the popular exchanges have enabled XTZ to trade with various pairs. However, if you are interested in buying Tezos, CoinDCX is the best-suited platform to deal with. CoinDCX offers hassle-free trades at affordable rates. Also, the CoinDCX mobile App provides its users with a unique experience with additional features. All you need to do is download the app on your smartphone and register following simple steps.
Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.