Tezos is one of the most popular blockchain networks on the market. In early May, Tezos rose to an all-time high of $ 8.40 before withdrawing shortly after the market turmoil. Since then, the logo was declining before it slowly rose in June.
At the time of writing, Tezos is trading at $ 2.91 on major stock exchanges. The current price represents a 0.4 percent drop in 24 hours.
Tezos price analysis
At current levels, the XTZ still has a long way to go before reaching all-time highs in May. Its current price of $ 2.91 is a critical level for the logo and needs support from the broader cryptocurrency market to reach $ 3. However, with the slight decline in the last 24 hours, such a jump will occur if there is strong support from the market.
If Tezos continues to fall and rises to $ 2.50 or less, it will increase demand as the new level forms the starting point for new traders. However, if the overall market continues to decline, the upward trend may not be registered in the next few days, opening investors up to the inevitable losses.
In addition to market forces, Tezos technology is another factor that provides XTZ value. One of XTZ’s biggest developments last month was that partnership with McLaren. The competition company announced that it was working with Tezos to create the NFT. Tezos will benefit from the project as its branding will be used by Formula 1 and IndyCar drivers. This will increase the global popularity of Tezos and the XTZ logo.
In addition, the Tezos block chain has also been Selected by the Center, the project behind USDC ‘s stablecoin as a USDC issuer. The USDC is a permanent coin created in collaboration with the Center and Coinbase. In the coming months, the issue will take place, and the value and demand for the logo may increase.
Evidence of the chain’s consensus on the Tezos block chain and its energy efficiency is increasing the demand for the logo and its popularity.
Where to buy XTZ
For those who want to buy XTZ tokens, you can check with a reputable cryptocurrency exchange platform such as eToro. eToro is one of the largest exchanges with large trading volumes, providing users with liquidity. In addition, eToro charges low trading fees and features that allow beginners to increase their chances of winning.
Looking to buy or trade Tezos (XTZ) now? Invest in eToro!
75% of retail investors’ accounts lose money when CFDs are traded.