CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$48,613.00
  • ethereum
    ETH$1,535.31
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » The $232 Million ICO Finally Pays Off: Tezos Price (XTZ) Gains Over 90% in a Month, Here Is Why

    The $232 Million ICO Finally Pays Off: Tezos Price (XTZ) Gains Over 90% in a Month, Here Is Why

    Author: Felix Mollen

    Last Updated Jan 24, 2021 @ 14:13

    Tezos is amongst the best performing Altcoins throughout the last month. In 30 days, the cryptocurrency has managed to gain roughly 90 percent of its value.

    XTZ was trading at around $0.44 just a month ago. Its price at the time of this writing is sitting at $0.77, following a daily high of $0.84, which is roughly around a 91 percent increase. On the daily, XTZ is marking an increase upwards of another 10 percent. Tezos’ current market capitalization stands around the $500 million mark, whereas most of its trading volume comes from Gate.io, Kraken, and BitMax exchanges.

    XTZ Monthly. Source: Coinmarketcap

    Tezos gained popularity after managing to raise a whopping $232 million during its successful ICO. However, the project has had a bumpy ride ever since, embroiled in a variety of legal battles, as well as long-lasting scandals. Perhaps one of the most notable issues followed the US Securities and Exchange Commission (SEC) decision to bring Tezos under its regulatory purview.

    The Reason Behind Tezos (XTZ) Gains?

    Looking at the incremental increases in XTZ’s price, mapping out the reasons for its recent moves is definitely interesting:

    It appears that there’s a lot that has been going on with Tezos throughout the past 30 days. Most notably, is that the multi-million dollar blockchain project managed to officially conclude its very first round of voting for two competing system-wide upgrades.

    On March 20, the first round of voting on the Tezos blockchain closed, choosing between two competing proposals called “Athens A” and “Athens B”.

    With as much as 25,855 votes from the community, the upgrade that won the majority of bids from bakers was “Athens A.” The protocol’s proposition is to introduce two different backward-incompatible changes to Tezos’ network.

    The first change is to increase the gas limits on the blockchain, allowing for a higher transaction throughput. The second change concerns roll sizes. These are the aggregated Tezos tokens that are held by bakers in order to be randomly selected in the process of block-creation. It will be reduced from the current number of 10,000 XTZ, to 8,000 XTZ. This amendment would essentially lower the barrier to entry for bakers on the network and, hence, improve block creation.

    While there are other steps to be taken before the proposed changes come into activation, news of the kind are usually a precursor for significant price moves, as it is the case with Tezos’monthly performance.

    Thailand’s blockchain program

    Moving forward, earlier this month Thailand’s Chulalongkorn University announced that it will be teaming up with Tezos Southeast Asia in order to create the country’s premier blockchain education and research program.

    In an attempt to spread further awareness of the project, the Tezos Foundation has partnered up with B9lab, creating educational and training programs that are Tezos-Centric. B9lab is amongst the leading providers of blockchain training and education programs.

    Obviously, there’s a lot of development revolving around Tezos, which is likely to be among the reasons for its increasing price.

    We’re in 2019’s Alt-Season, after all

    Another factor worth mentioning is the overall state of the cryptocurrency market. As Cryptopotato recently reported, there are various rather definite signs that we’ve entered 2019’s Altcoin season.

    Tezos (XTZ) price surge further highlights this period. Altcoin seasons are characterized by substantial moves in the prices of altcoins, as well as a reduced dominance of the market’s forerunner – Bitcoin (BTC).

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    Tags: Tezos Tezos (XTZ) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Felix Mollen
    More posts by this author

    Felix got into Bitcoin back in 2014, but his interest quickly expanded to everything blockchain-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years before that, Felix transitioned to working on blockchain-centered projects and hasn't looked back ever since.

  • bitcoin
    BTC$48,613.00
  • ethereum
    ETH$1,535.31
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!