Tezos (XTZ) spikes 33% in seven days: Supported by French Finance Minister positive remarks


  • “I am thinking in particular of Tezos… overcoming the known defects of public blockchains,” Bruno Le Maire.
  • Tezos technical levels remain strongly positive in spite of the correction from the highs around $1.4306.

Tezos has been the best performing altcoin in April 2019. Both the trading volume of the digital asset and the market up continue to surge amid widespread cryptocurrency consolidation. Tezos market cap is currently aiming for the $1 billion mark, although currently, it stands at $907 million. The trading volume hit highs of $11 million yesterday but has corrected to $10 million at press time.

The data on CoinMarketCap also shows that the crypto has increased in value by 2.74% in the last 24 hours. Moreover, over the last seven days, it has seen a 33% growth. Tezos, currently the 15th largest cryptocurrency does not seem to be slowing down anytime soon.

The surge in the last week is mainly supported by positive sentiments from traders following the remarks by the French Finance Minister, Bruno Le Maire during the Paris Blockchain Week Summit. According to Maire:

“The development of the blockchain ecosystem is a priority for the government: it is a potential technology that can contribute to the modernization of our businesses and our economy.”

The Finance Minister continued:

“France has some nuggets on the entire value chain of new services to companies, hardware and protocols. I am thinking in particular of Tezos and which allows the development of a blockchain protocol overcoming the known defects of public blockchains.”

Tezos price update

XTZ/USD is trading within an ascending channel. The price has been forming higher highs and higher lows mainly supported by the above news in the wake of the listing on Coinbase. Tezos is above both the 50 SMA 1-hour and the 100 SMA 1-hour; both which are still playing catch following the surge. The technical levels remain strongly positive in spite of the correction from the highs around $1.4306.

XTZ/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin bull market top to be beyond $60K as miners and whales drive price higher

Bitcoin has recorded a 101% return in Q1 this year, outperforming many traditional assets. Institutional demand continues to be a massive driver for the Bitcoin price. Miners have stopped selling the leading cryptocurrency, and Bitcoin whale addresses have been increasing. 

More Bitcoin News

Chainlink Price Prediction: LINK approaches make-or-break point

Chainlink price failed to overcome the resistance barrier at $35 for the third time in a row. A decisive close above $37.40 could seal the bullish fate, but a breakdown of $30 could also trigger a downtrend.

More Chainlink News

Dogecoin pauses before continuing 35% ascent

Dogecoin price breached an ascending triangle pattern on April 11, triggering a bull run. DOGE spiked nearly 17% in a single candle on the 12-hour chart hitting $0.080. Now, a retracement to the immediate support level at $0.071 seems likely before it starts to climb again.

More Dogecoin News

XRP price rally and Ripple's legal victories could mean settlement with SEC impending

Ripple Labs and its executives scored another victory recently in its ongoing legal battle against the US Securities & Exchange Commission. Judge Sarah Netburn denied the SEC access to the personal banking information of Brad Garlinghouse and Chris Larsen.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: SEC commissioner cozies up to BTC ETF, on-chain metrics reset making way for volatile move

Bitcoin’s mainstream adoption has soared over the last couple of months, with institutions like Visa, Goldman Sachs, Morgan Stanley, and others dipping their toes in the BTC markets. Likewise, prices look primed to advance further despite the ongoing consolidation phase.

Read the weekly forecast

BTC

ETH

XRP