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Tezos [XTZ] shoots up by 22% as cryptocurrency becomes latest altcoin to see green

Akash Anand

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Tezos [XTZ] shoots up by 22% as cryptocurrency becomes latest altcoin to see green
Source:Pixabay


Price surges in the cryptocurrency market have been dominated by altcoins, with most of the popular ones witnessing double-digit gains. The latest altcoin to surge on the back of the bulls was Tezos [XTZ].

Source: CoinMarketCap

At the time of writing, Tezos was rising by 5.14% on the hourly charts, and by 22.46% on the 24-hour spectrum. The cryptocurrency held a market cap of $367.005 million, while the 24-hour trading volume was at $8.650 million. A majority of the coin’s trading volume was held by UEX and BitMax, two popular cryptocurrency exchanges. UEX contributed to 27.7% of the total XTZ trade, while BitMax posted a trading volume of $1.190 million.

Source: CoinMarketCap

The charts show a perpendicular rise in prices, as the cryptocurrency was moving gradually before it shot up. The price rose from $0.573 to $0.602 in under an hour, according to the charts.

It was speculated by some users that the price rise was owing to the coin’s addition to the Bitfi wallet. Bitfi’s official handle had tweeted,

“Due to popular demand, we are adding Tezos (XTZ). This is a very important smart contracts platform that delivers features that others cannot, like formal verification. #Tezos #XTZ”

Tezos has mainly focused on increasing its developer base, as evidenced by the cryptocurrency organization’s recent partnership with Mainframe.

Mick Hagen, Founder and CEO of Mainframe said,

“We’re witnessing an explosion of developer skills.The blockchain community has turned towards building, and over the next several months with support from Tezos Commons, we’ll host events around the world focused on challenging those developer skills.”

Mainframe’s official release also stated that the partnership entailed strengthening the core developing network, and the resulting DApps. It further added,

“Mainframe and Tezos share the core commitment to advance blockchain development and adoption. With the Tezos Foundation (sister organization of Tezos Commons) announcing plans to train 1,000 developers in 2019, we’re eager to work side by side to accelerate developer experience building dapps using the Mainframe platform.”





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

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