Tezos Price Jumps 36% in a Week, Flips Tron, Cardano

Tezos Price Jumps 36% in a Week, Flips Tron, Cardano
(Source: iStock/arthobbit)

After surging almost 36% in the past week, Tezos (XTZ), the best performing digital asset among the top 20 coins this week, is now ranked 11th by market capitalization (USD 1 billion), surpassing Tron (TRX) and Cardano (ADA).

At pixel time (13:02 UTC), XTZ trades at c. USD 1.64 and is up by 7.5% in a day, increasing its monthly gains to 33%. The price surged by 296% in the past 12 months. Moreover, trading volume has also increased in the past week.

XTZ price and trading volume chart:

From a technical perspective, candlestick arrangement suggests that XTZ is resuming H1 bull trend. XTZ prices found support at the 61.8% Fibonacci retracement line of January-May trade range.

Meanwhile, Tezos is now one of the seven digital assets that have been assigned "B" rating by Weiss Ratings, a financial ratings agency. While only Bitcoin (BTC) and Ethereum (ETH) got B+, XTZ, together with Cardano, Litecoin (LTC), Ripple (XRP), and IOTA (MIOTA) has B-.

Recent Tezos news:

At the end of October, the Tezos Foundation announced it would be tokenizing about USD 25 million worth of a Manchester, UK, luxury property development in conjunction with tZERO;Coinbase has begun offering staking rewards to its Tezos customers in most American states; OKEx announced the XTZ staking service and started XTZ spot trading;Tezos Southeast Asia partnered with RF International Holdings in order to promote cooperation in exploring Tezos applications to encourage adoption;Additionally, Swiss primary stock exchange SIX listed a crypto exchange-traded product (ETP) tied to XTZ, issued by fintech company Amun AG.The French Armies and Gendarmerie’s Information & Public Relations Center (SIRPA) announced that the Gendarmerie’s cybercrime division (C3N) “has been validating judicial expenses incurred during investigations and recording them on the Tezos blockchain” since September.Bruno Le Maire, France’s Minister of the Economy and Finance, said recently that “the development of the blockchain ecosystem is a priority for the government,” while one of the startups that has caught his eye is Tezos.

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