• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Tezos Beats Bitcoin in Latest Price Rally, Up 44% This Week

Davit Babayan by Davit Babayan
2 years ago
in Cryptocurrency news, Technical analysis
Reading Time: 2min read
tezos, bitcoin

Tezos Beats Bitcoin in Latest Price Rally, Up 44% This Week

Advertisement

Tezos (XTZ) is proving to be a better near-term investment than bitcoin this week. The altcoin, accompanied by favorable fundamentals, has surged by 44 percent in the last four days as it looks to close the week at an even higher rate.

As of 12:29 UTC, the XTZ/USD instrument was trading at 1.452, up 3.71 percent in the last 24 hours. The move upside brought Tezos market capitalization to circa $962 million, which makes 0.40 percent of the entire cryptocurrency market valuation. At its highest, the cap was around $1.457 billion.

tezos, xtz price
Tezos has Surged 16% in the Previous 24 Hours | Image Credits: CoinMarketCap.com

The surge accompanied a similar price action across the rest of the cryptocurrency market. Bitcoin, the world’s leading cryptocurrency, broke out of its interim bearish bias soon after the Federal Reserve reduced the interest rates by 25 bps. It further got a boost from US President Donald Trump’s decision to slap additional tariffs of worth $300 billion on Chinese imports.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to…

— Donald J. Trump (@realDonaldTrump) August 1, 2019

Altcoins, which typically move in tandem with bitcoin, surged likewise on the news. Ethereum, the second-largest cryptocurrency by market cap, was up 2.87 percent on a 24-hour timeframe. Other assets, including Bitcoin Cash, Litecoin, and Bitcoin SV also surged similarly.

Nevertheless, Tezos reserved the title of the best performing crypto-asset this week after rising the maximum. It had great fundamentals fueling the price rally.

Coinbase Integration

On July 30, San Francisco-based cryptocurrency exchange Coinbase Pro announced that it is going to add Tezos to its trading platform. The move followed the addition of Tezos staking services to another Coinbase division, Coinbase Custody, injecting confidence in the market about the blockchain project’s growth potential in the US.

“On Monday August 5, transfer XTZ into your Coinbase Pro account ahead of trading. Support for XTZ will be available in Coinbase’s supported jurisdictions, with the exception of New York State. Additional regions may be added at a later date,” — read the announcement.

The XTZ/USD instrument started posting gains right after the Coinbase announcement. On the day, the pair surged by as much as 26.97 percent – from $0.997 to $1.269. By the end third daily session, it had already extended its gains by setting a weekly high of $1.474.

Court Controversy

While Coinbase has lifted the spirits of Tezos bulls, some events could foul the cryptocurrency’s upside.

Like Ripple, Tezos is currently facing a high-profile lawsuit from several investors who claim XTZ is a security, not a utility asset. Should the court agree with the plaintiffs, then trading XTZ on Coinbase – a US-based regulated exchange – would be illegal. Moreover, Tezos founder could be held accountable for selling securities without obtaining permission from the Securities and Exchange Commission.

Such events could negate a large percentage of Tezos gains.

Tags: tezos
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

Related Posts

DAFI

How DAFI Protocol Rewards Long-Term Token Holders and Supports Sustainable Project Growth

3 hours ago
Ethereum

Ethereum Climbs above $1,600, Why ETH Could Soon Test $1,720

3 hours ago
Bitcoin Price

Why Bitcoin Price Could Start Strong Increase Above $50K

4 hours ago
bitcoin and Ethereum macro beating

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

1 day ago
bitcoin dominance btc.d altcoins liftoff

Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins

2 days ago
paradox

How Paradox Group Is Helping DeFi

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

EcoCelium is Now Live – Ready to Mark the Next Step in DeFi

March 5, 2021

MXC Exchange Commits to Integrating USDC-SPL on Solana

March 5, 2021

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.