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Tezos [XTZ] shoots up by 11% post Winklevoss brothers’ comment on Ethereum’s [ETH] competitors

Akash Anand

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Tezos [XTZ] shoots up by 11% post Winklevoss brothers' comment on Ethereum's [ETH] competitors
Source: Pixabay

The price fluctuations in the cryptocurrency market have been an ongoing event, with several coins witnessing bullish and bearish trends. The start of the new week gave way to another cryptocurrency siding with the bulls; Tezos [XTZ].

Source: CoinMarketCap

Source: CoinMarketCap

At press time, Tezos was trading at $0.466 and was rising at a rate of 10.88% against the US Dollar. The total market cap of the cryptocurrency was $283.252 million, with a 24-hour trading volume of $607.489. The total XTZ trade was primarily split between UEX and BitMax, two popular cryptocurrency exchanges.

Source: CoinMarketCap

Source: CoinMarketCap

UEX had control of $1.684 million worth of Tezos transactions, while BitMax had a grasp on $1.115 million of the total XTZ trade.

One of the reasons for the coin’s sudden rise can be attributed to the Winklevoss twins talking about at a recent conference. They said,



“The next few months will be particularly fruitful for the cryptocurrency market with a lot of developments coming in. There are many with good projects with Ethereum [ETH] competitors like Tezos and ZCash.”

XTZ was at the center of multiple controversies of late, with the latest issue being that multiple Tezos wallets were found vulnerable to blind signature attacks. A Reddit thread stated,

“All major Tezos wallets we tested except two, are vulnerable to a simple yet catastrophic attack that can lead to loss of funds (blind signature vulnerability).”

The post continued,

“Cryptocurrency wallets were meant to be trustless, but most Tezos wallets are not… When you’re signing any tx with these wallets you’re trusting the server (RPC) to send you money… The RPC you rely upon could turn malicious (e.g. be hacked) at any moment in time, with no way for you to detect it.”





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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