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Tezos [XTZ] pumps by 15% over two days after series of developments in community




Tezos [XTZ] pumps by 15% in over two days after a series of developments in the community
Source: Unsplash

Tezos pumped by approximately 15% between 27-28 March, causing the price to shoot from $0.6728 to $0.7600. The volume for the coin correlated with the pump. However, the pump stopped soon after, causing the price and the coin’s volume to correct themselves.

Source: TradingView

While some people attributed the rise in price to shilling, others speculated that Tezos was an “honest project” that was seeing a pump after a while. Others speculated that it was because it was the “altcoin season” and that people were accumulating it in preparation for a bull rally ahead.

Additionally, Tezos foundation announced its partnership with MOBI [Mobility Open Blockchain Initiative], a platform that promotes and accelerates blockchain-based adoption.

Further, Cryptium Labs received a grant from Tezos to develop protocol improvements for the Tezos core protocol. With this grant, Cryptium Labs will build a new account system which if implemented via the Tezos amendment process will allow bakers to define their baking operations through Michelson smart contracts.

The coin market has been seeing a rise in altcoin prices for a while now. EOS and Cardano [ADA] pumped by double digits yesterday. This led some people to term the surge as the dawn of the “altcoin season”.

Tezos was also in the news after Tezos Asia attracted young science students to develop their programming skills and create a more innovative nation.

@SatoshiSloth, a Twitter user, said that the pump was due to @cryptodonalt speaking about Tezos on his stream. He tweeted,

“@CryptoDonAlt talked about it on his stream yesterday and tweeted about it today. That started a shill chain reaction.”

@Djangobits, another Twitter user, commented,

“Because it progresses really fast, had not seen a major hype cycle and altseason just started and clever people looking for gems ahead of the pack.”

@eyezeefour commented,

“@CryptoDonAlt talked about it on his stream yesterday and tweeted about it today. That started a shill chain reaction.”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time writer at AMBCrypto and a part-time novice trader.