Tezos (XTZ) Price Hits 1-Month High After Week-Long Rally

Voyager
Voyager

Tezos (XTZ), a blockchain platform that features a self-evolving upgrade system, has quietly been one of the best performing large-cap cryptocurrencies over the past week.

After bottoming in mid-December at roughly $0.34, XTZ rallied to around $0.56 before tumbling through the first 6 weeks of 2019¬†— settling in the $0.35-0.36 range last Friday. Since then, the coin has been moving steadily higher, testing $0.46 on Friday.

XTZ/USD 3-month chart via CoinCodex

A quick look at a shorter-term chart shows that XTZ hit new 1-month high Friday, marking a 25% increase over the course of the week. While the strength of this surge is encouraging, the coin has already started pulling back a bit from this level — as expected before the next leg up.

XTZ/USD 1-month chart via CoinCodex

From a project development perspective, the biggest driver right now is likely the recent announcement that Elevated Returns and Securitize plan to use Tezos to tokenize real-estate for qualified investors. According to the press release, ER has a pipeline of real estate assets in excess of $1 billion targeted for these token issuances.

More: Elevated Returns and Securitize to Tokenize USD $1B of Real Estate on Tezos
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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