Tezos (XTZ) Hits Four-Week High Following USDT Launch
The price of XTZ has risen rapidly by 9% after news of USDT’s launch on the blockchain.
XTZ, the original cryptocurrency of the Tezos blockchain, is experiencing better growth than the rest of the market on Thursday after soaring to a four-week high of $2.23.
A price adjustment has caused XTZ’s price to fall to about $2.15, but this project’s token price has risen by more than 7% over the past 24 hours.
XTZ has also increased by nearly 12% in the last seven days.
This price increase is because Tether has announced that USDT – the largest stablecoin in the cryptocurrency market – will launch on the Tezos blockchain.
Like Ethereum, Tezos is an intelligent contract platform that allows developers to create decentralized applications (dApps), with some of the most common use cases including decentralized finance (DeFi) and the NFT sector.
The main difference is that instead of the energy-intensive work evidence mechanism, it relies on the “environmentally friendly” equity evidence consensus algorithm.
Over the past week, the market has been almost sideways. However, Bitcoin has had a few slight rebounds in the last few days, making the market even better.
However, there are times when Bitcoin falls, making the market seem to lose its previous growth.
Bitcoin, the largest cryptocurrency in the industry in market capitalization, fell only 0.4% in the past day, changing hands at $30,119.
Other major cryptocurrencies, including Ethereum, Binance Coin (BNB), Cardano (ADA), and Dogecoin (Doge) are on-trend, with one notable exception among the ten most considerable assets being Solana (SOL), which has grown 4.16% in the last 24 hours.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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