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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

XTZ Gains 16% As Tezos Foundation Announces Partnership With Google Cloud

Semilore Faleti
Semilore Faleti
1 year ago
3 mins read
XTZ

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The crypto market has held a rather stable position in the last week, with many assets showing no significant price changes. In the midst of this quietness, a few assets like Tezos(XTZ) have been able to generate some excitement, recording positive price gains for many investors. 

According to data from CoinMarketCap, Tezos (XTZ) has rallied by 16.54% in the last seven days, outperforming major assets such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) within that same period. Overall, XTZ has been one spectacular token in 2023, gaining by over 83% since the start of the year.

While numerous factors are driving up XTZ’s price, a notable factor in recent days is Tezos Foundation’s announcement of its partnership with cloud computing giant Google Cloud on Wednesday, Feb. 23. 

However, before that, Tezos(XTZ) has been trending due to the constant buzz surrounding its Mumbai network update. While still in the voting stage, the Mumbai update promises to improve several capabilities of the Tezos blockchain, for example, reducing the block production time to only 15 seconds. 

At the time of writing, Tezos is trading around $1.29, with a daily trading volume of $68.82 million. Based on more data from CoinMarketCap, the altcoin has a market cap value of $1.20 billion and is the 49th largest cryptocurrency in the world. 

 XTZ

XTZ trading at $1.28 | Source: XTZUSD Chart on Tradingview.com

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Tezos Partners Up With Google Cloud

On Wednesday, the Tezos Foundation announced its partnership with Google Cloud to “accelerate web3 application development on the Tezos blockchain”.To achieve such a goal, this collaboration will allow Google customers to easily become “bakers” (network validators ) on the Tezos blockchain. 

Google Cloud itself will also serve as a baker on the Tezos network, joining the popular gaming brand Ubisoft. Furthermore, this partnership will enable Google customers to easily build and deploy web3 applications. Using the combined infrastructure of Tezos blockchain and Google Cloud services, developers and companies will also be able to host Remote Procedure Call (RPC) nodes for various decentralized applications. 

Another exciting benefit of the partnership between Google Cloud and Tezos is that Tezos incubator startups are now qualified to receive Google Cloud credits and mentorship courses through the Google for Startups Cloud Program.

That said, other notable brands with which Tezos has partnered in recent years include English Football Club Manchester United and the California Department of Motor Vehicles. 

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Tezos (XTZ) Price Prediction 2023

So far, Tezos (XTZ) has been one of the most promising tokens in 2023, garnering a lot of attention. There are so many investors who wonder what heights or lows this altcoin could reach this year. 

At Coincodex, they predict the XTZ will gain by 7.91%, hitting a price of $1.38 in the next five days. However, their forecasts also projected the token to return to its current price region in 30 days’ time, trading at around $1.31.

Meanwhile, DigitalCoinPrice, another price prediction site, provides a long-term outlook on the appreciation prospects of Tezos.

According to their predictions for 2023, Tezos is expected to hit a peak price of $2.14 before the year runs out. They also anticipate the token’s minimum and the average price to be around $1.79 and $1.89, respectively. 

That said, investors should remember these price predictions are speculations and do not represent financial advice.

Featured Image: Shrimpy Academy, Chart from TradingView

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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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