Cryptocurrencies have been gaining traction around the world lately, with Tezos (XTZ) being one of the popular options for investors in the sector. Tezos is an open source blockchain platform, designed to offer more flexibility, adaptation and self-governance in comparison to other cryptos that have been traditionally ruled by a small group of developers. Through the Liquid Proof of Stake (LPoS) consensus algorithm, users can take part in the network's consensus process by staking their XTZ tokens. This helps to secure the network and ensure that all participants have a say in the decision-making process.

At present, Tezos has a market cap of $1.04 Billion, ranks 51st in the cryptoverse, and has an active stake of 693.08Million, with transactions on a slight decline. Its weekly technical chart suggests a consolidated momentum in price, while the daily chart is trading near the value of $1.11, with a drop of 1% in the intraday session. Meanwhile, the support of the asset price can be seen near $1, with the upside trend possibly halting near $1.5.

The Relative Strength Index (RSI) of XTZ is currently at 46, signifying its presence in the neutral zone, with a downside slope hinting towards a bearish momentum. Analysts expect strong growth in the asset price in the coming months, predominantly due to the Tezos Mumbai upgrade which looks to enhance scalability and transaction speed up to 1 Million Transactions per second. However, investors should remember that any form of investments comes with an associated risk. As such, always exercise caution and due diligence when considering crypto investments.



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