The $XTZ coin powering Tezos’s self-upgrading blockchain is positively surging right now. Tezos’s $XTZ blew up 33% in the last 24 hours and shot past the dollar to trade at $1.11 as of this writing.
This rapid upward momentum comes as the collective crypto market cap dipped 1.4% overnight, although crypto still commands an eye-watering $3.22 trillion in global capital.
Several factors appear to be driving Tezos’s blistering ascent. Firstly, there’s been a significant surge of activity on the network throughout Q3 this year. According to a recently published Messari report, activity on Tezos increased 46% in the third quarter.
There was also a 272% increase in activity on Etherlink, the network’s EVM-compatible layer 2 scaling solution, built to attract developers familiar with Ethereum to the Tezos network.
Last week, Tezos joined the Coinbase 50 index, a new list by Coinbase that indexes the top fifty digital assets. This puts Tezos on the radars of Coinbase’s global audience of investors.
Tezos ($XTZ) Hits 7-Month High!
Tezos’s unique selling point is that its a self-upgrading blockchain. It launched in 2014 with a simple premise. All $XTZ holders have a vote in how the blockchain develops. Once the vote is taken, the blockchain then automates the update. Thanks to this design, Tezos was one of the biggest ICOs in crypto history, attracting $232 million in investments throughout 2017 before going public in 2018.
Tezos’s rally last night hit a high of $1.29 in the early hours UTC before pulling back to its current price. This briefly brought $XTZ to a level not seen since early April, although it fell just short of the token’s peak price of $1.60 over the last 365 days, as indicated by the horizontal red line.
Source: TradingView
For most of the last three months, Tezos has been caught between $0.60, where it enjoys strong support (green line) and $0.80, where it faced some tough resistance. Last night’s rally resulted in a vertical upsurge on the graph—a telling sign of whale-sized purchases—which briefly overvalued the coin, although some immediate profit taking has balanced that out now.
Tezos’s $XTZ has now consolidated its gains and could easily top its one-year high in the coming days, should crypto market sentiment remain bullish.
From Tezos to Crypto All-Stars: Blockchain Innovation Continues Apace
Tezos is certainly an exciting investment. Since it’s not as big as competitors like Ethereum, Solana, Cardano and Tron, there is more headroom for growth.
However, the crypto-savvy investor knows that Web3 contains innovation in abundance.
Over in the presale sector, even meme coin projects nowadays can attract eye-popping investment and returns.
One exciting new meme coin staking protocol called Crypto All-Stars has raised over $4.4 million. It hopes to change the negative perceptions around meme coins by enabling crypto fans to put their digital funny tokens to work and generate yield.
Already some of the the world’s most celebrated meme coins are integrated into the platform’s cross-chain MemeVault protocol with more to be added later, according to the team.
Users can stake Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin in the MemeVault to earn passive income.
The current reward rate for staking these coins is an impressive 400% in the form of $STARS.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
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