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Tezos (XTZ) Gains 200% YTD As Buyers Get Excited

Tezos (XTZ) is making solid gains this year amid continuous buying activities on multiple developments.

Key Developments

For as long as the crypto sphere has existed, Bitcoin has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, Bitcoin’s rise has been nothing but spectacular, and any fluctuation in the price of the token can result in similar effects on all other tokens. In other words, Bitcoin remains the most powerful cryptocurrency in the world, and it is not only because of the incredible gains that it has recorded through the first half of 2019.

However, it is important to point out that despite the 200% gains that BTC has clocked in 2019 so far, there is another cryptocurrency that has been just as impressive this year.

The cryptocurrency that has matched Bitcoin’s yearly gains so far this year is Tezos, which used to be a little known token but is now much better known in the crypto space. At this point in time, the Tezos token has generated gains in excess of 200% this year so far and ranks as the 16th biggest cryptocurrency in terms of market capitalization. Its market cap has climbed steadily as well, and it currently has a valuation of $1.5 billion.

>> Is Ethereum (ETH) No Longer a Crypto Trader Favorite?

In this week alone, Tezos has managed to gain as much as 15%, and it is believed that the current spike was due to a positive development at a major crypto exchange. The influential United Kingdom-based crypto brokerage eTORO rolled out trading support for Tezos, and that proved to be the major trigger behind the significant gains that have been generated in the week so far.

Tezos is definitely on a roll this year and has been attracting a lot of attention from people who matter. It would be interesting to see if the token can continue to generate such impressive gains over the coming months.

Featured image: DepositPhotos © Piter2121

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Tezos

Tezos (XTZ) Outperforms Altcoins | Soars Over 40% This Week

The month has got off to a fairly promising start for a crypto sphere with Bitcoin managing to gallop past the $10,000 mark and many other tokens gaining significantly in the aftermath. While it is true that Bitcoin is almost always the leader of the market in terms of gains when the crypto space starts rising again after a slump, it has not been the same this time. This time, Tezos is leading.

Big Rally

Tezos (XTZ) has managed to gain more than Bitcoin this week, and according to many crypto sphere watchers, it could prove to be a better investment for the short term. XTZ has managed to gain as much as 5% over the course of the past 24 hours, and its market cap rose considerably as well. The market cap of Tezos stood at $952 million at one point.

However, with regards to Tezos, it needs to be remembered that the world’s 16th biggest cryptocurrency in terms of market cap has also been boosted by a significant development this week. This week, Tezos was listed on Coinbase Pro, the world’s biggest crypto exchange, and that resulted in a significant upsurge in price. It remains to be seen whether it can manage to hold on to the gains over the coming days.

>> Bitcoin Recovers 15% in 3 Days: What’s Driving BTC?

On the other hand, Bitcoin’s significant rise has been triggered by the rate cut for the United States Federal Reserve as well as United States President Donald Trump’s decision to impose fresh tariffs on Chinese goods. According to experts, Bitcoin experienced a small downturn just before the announcement from the Federal Reserve yesterday, and as soon as the announcement was completed, the token’s price shot up considerably.

What do you think about Tezos?

Featured image: DepositPhotos © leungchopan

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