{"id":21709,"date":"2024-11-19T14:29:06","date_gmt":"2024-11-19T14:29:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21709"},"modified":"2024-11-19T14:29:06","modified_gmt":"2024-11-19T14:29:06","slug":"tezos-xtz-soars-by-35-daily-is-there-more-room-for-growth","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21709","title":{"rendered":"Tezos (XTZ) Soars by 35% Daily: Is There More Room for Growth?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Tezos (XTZ) surged to $1.30 before stabilizing at $1.10, rejoining the top 100 cryptocurrencies with bullish predictions for further gains.<\/span>
\nXTZ was once a top-20 digital asset with a $7.3 billion market cap during 2021\u2019s bull run.<\/p>\n

<\/a><\/p>\n

The Top Performer<\/span><\/h2>\n

Most of the leading cryptocurrencies have consolidated in the past 24 hours. Bitcoin (BTC), for instance, is currently worth around $91,500 (per CoinGecko\u2019s data), representing a mere 0.6% increase on a daily scale. Ethereum (ETH) is hovering at approximately $3,100, or a 1% rise for the same period.<\/span><\/p>\n

However, some digital assets have still recorded double-digit gains, with Tezos (XTZ) being an evident example. Several hours ago, its valuation pumped <\/span>to<\/span> a seven-month high of almost $1.30. It later retraced to the current $1.10. Its market capitalization soared above $1 billion, marking XTZ\u2019s return to crypto\u2019s top 100 list.<\/span><\/p>\n

<\/a>XTZ Price, Source: CoinGecko<\/p>\n

While the exact reason fueling the rally remains unknown, many analysts expect a further jump <\/span>in the near future<\/span>. The X user JAVON MARKS <\/span>claimed<\/span><\/a> XTZ\u2019s price has surged after \u201crecently displaying a regular bullish divergence and breaking out of a smaller setup.\u201d The trader added that this may be a precursor of a gigantic rally to as high as $7.609.\u00a0<\/span><\/p>\n

CryptoJack <\/span>described<\/span><\/a> XTZ\u2019s latest pump as \u201can explosive bullish rally.\u201d <\/span>According to him, though,<\/span> the price now faces resistance at the 0.5 Fibonacci level.<\/span>\u00a0<\/span><\/p>\n

\u201cI expect a retest of the 0.5 fib level before a bounce and pump on Tezos,\u201d they added.<\/span><\/p>\n

CryptoTony chipped in, too. <\/span>The trader <\/span>promised<\/span><\/a> to <\/span>jump on the XTZ bandwagon as an investor<\/span> if the price surpasses the resistance level of around $1.40.<\/span>\u00a0<\/span><\/p>\n

XTZ\u2019s<\/span> Former Glory<\/span><\/h2>\n

While XTZ is currently the 92-biggest cryptocurrency, it was among the leaders during the bull run in 2021. Back then, its price hit an all-time high of over $9, while its market capitalization pumped to $7.3 billion, positioning it in the top 20 <\/span>club<\/span>.\u00a0<\/span><\/p>\n

Its solid performance was partially fueled by essential partnerships.<\/span> Towards the end of 2021, Tezos <\/span>teamed up<\/span><\/a> with Ubisoft (a platform that allows users to acquire specific NFTs). Shortly after, it <\/span>inked<\/span><\/a> a $27 million deal with one of the most popular football clubs \u2013 Manchester United.\u00a0<\/span><\/p>\n

The platform serves as official blockchain and training kit partner <\/span>of the team<\/span>.<\/span> The collaboration with \u201cthe Red Devils\u201d (as the club <\/span>is known<\/span> in the sports world) remains ongoing.<\/span><\/p>\n

It will be interesting to see if Tezos and its native token will return to its former peak during this bull cycle. <\/span>The odds might be better if the <\/span>overall<\/span> bullish environment lasts in the following months and <\/span>if<\/span> Tezos forms additional strategic alliances.<\/span>\u00a0<\/span><\/p>\n

The post Tezos (XTZ) Soars by 35% Daily: Is There More Room for Growth?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Tezos (XTZ) surged to $1.30 before stabilizing at $1.10, rejoining the top 100 cryptocurrencies with bullish predictions for further gains. XTZ was once a top-20 digital asset with a $7.3 billion market cap during 2021\u2019s bull run. The Top Performer Most of the leading cryptocurrencies have consolidated in the past 24 hours. Bitcoin (BTC), […]<\/p>\n","protected":false},"author":0,"featured_media":21710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21709"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21709"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21710"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}