What's going on with Tezos? Project surging over 20%

20 Mar, 2019 | Updated: 20 Mar, 2019
by Richard Allen
Price Action
What's going on with Tezos? Project surging over 20%

Lately, the market has been characterized by frequent altcoin price surges that have routinely seen coins reach double digit earnings. The latest in this growing list is Tezos, surging over 20% at the time of writing.

Developed by ex-Morgan Stanley analyst Arthur Breitman, Tezos (XTZ) has been designed as a multi-purpose platform supporting dApps and smart contracts. In the last 24 hours, the coin is reporting gains that exceed 20%, bringing the value of XTZ to $0.598 with a 24-hour trading volume of $8.5 million at the time of writing.

Read more: Altcoin season is back: these are the 10 best performers right now

Some users have suggested that the surge could be the result of coin’s addition to the Bitfi wallet:

The Tezos community is understandably excited by the price surge, especially when it comes to Tezos’ “baking” aspect. Baking is what Tezos refers to as the action of signing and publishing a new block in the chain.

Tezos looks poised to overtake Zcash. However, there is still a $20 million gap between the two projects so whether Tezos will be able to maintain this momentum long enough to unseat Zcash remains unclear.

Read more: Tezos lawsuit back to square one as lead plaintiff has bigotry history; $1 billion in real state assets will be tokenized using Tezos (XTZ)

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