A 378.10% rise in less than 4 months is Tezos the new Bitcoin?

Rajan Dhall, MSTA FX Daily

According to their site, Tezos is an open-source platform for assets and applications backed by a global community of validators, researchers, and builders.

According to me its a rocket!

For those who know nothing about Tezos:

It is a technology for deploying a blockchain capable of modifying its own set of rules and it is said to cause minimal disruption to the network through an on-chain governance model.

Unlike other blockchains like as Bitcoin or Ethereum, in its most popular incarnation, a Tezos blockchain does not rely on mining (Proof of Work) but instead uses a Proof-of-Stake based consensus model.

They started recently in 2017 and are a Swiss-based non-profit. The company managed to raise a massive USD 232 million to become one of the biggest ICOs at that moment.

The concept is soo popular that In July 2019, Banco BTG Pactual together with Dalma Capital, a Dubai based asset manager, announced plans to utilize the Tezos blockchain for Security Token Offerings (STOs).

It seems that they are on to something as you can see from the chart below. You cant really use any kind of technicals to forecast where this will end. Much like Bitcoin back in November 2018 let's let the market decide!.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

Ripple and Stellar outlook: XRP awaits a breakout, XLM rally gathers pace

Ripple steadies at $1.19 below the upper boundary of its falling channel after facing rejection. Meanwhile, Stellar extends its gains, rallying over 25% so far this week. Derivatives metrics suggest a cautious outlook for XRP, while XLM's improving futures positioning suggests a bullish outlook.

Crypto Overview: Bitcoin loses $65,000 while Ethena and Stellar advance

The broader cryptocurrency market remains divided with Bitcoin slipping below $65,000 after Kevin Warsh’s hawkish speech the previous day, while altcoins like Ethena and Stellar advance upwards. Demand for altcoins with real-world utility, linked to stablecoins or tokenized stocks or bonds, fuels the short-term buying pressure.

Binance founder CZ urges governments to tokenize stock markets and launch sovereign stablecoins

Binance founder Changpeng Zhao has called on governments to tokenize their stock markets and issue sovereign stablecoins, arguing that blockchain technology can expand access to capital markets and increase the global use of national currencies.

Bitcoin remains under bearish pressure despite recent rebound — Glassnode

Bitcoin (BTC) remains well below key onchain metrics, with realized losses continuing to dominate capital flows despite a partial price recovery. The top crypto rebounded from lows near $60,000 to the $65,000 range after the US-Iran peace deal reversed much of the war premium that had weighed on risk assets.

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.