One of the most popular cryptocurrencies out there, Tezos (XTZ), has a huge market cap (over $5.1 bn) and an impressive daily trading volume exceeding $130 million. With its strong focus on creating a blockchain ecosystem capable of evolving and integrating efficient solutions seamlessly, Tezos has been on the radars of crypto enthusiasts ever since its conception in 2018.
It is an open-source project where all participants of the network may present suggestions and upgrades. Many new initiatives were warmly welcomed by the development team and swiftly implemented. Over 3 years, the project received 7 milestone upgrades each carrying an exotic name of a historical city such as Athens or Babylon.
You can check out the dynamic of the XTZ token using the Tradingview bot. While the graph may appear volatile, Tezos remained stable and did not fluctuate as intensely as BTC or ETH.
The current Tezos coin value is about $5.92 (as of November 15, 2021). At the beginning of October 2021, the coin reached its all-time high ($9.12) but has been on a correction course ever since. Thanks in part to regular updates and interesting partnerships (such as collaborations with F1 teams), the token receives attention from investors and speculators allowing it to retain good liquidity. The price of Tezos is expected to grow in the nearest future.
The circulating supply of the coin is at 806 million as of the time of writing. The total circulating supply is unlimited meaning that new tokens will be created as intended by the development team. The inflation is steady (3.6% annually) and can be controlled. Various suggestions on deflationary mechanisms were proposed by the community.
Key metrics as of November 2021:
Over 806 million XTZ in circulation.
The inflation is at 3.6% annually.
The market cap is $5.15 billion.
The daily trading volume is about $133 million
Since the market fluctuates and multiple factors affecting the price exist, many traders prefer copy trading crypto tokens like Tezos. Social trading is one of the key reasons why many coins became valuable assets as millions of people trusted in the promise of explosive growth and invested heavily in BTC and ETH as well as other “pioneers” of the industry.
A notable advantage of this particular cryptocurrency is that the price is relatively stable. While highly volatile dips and peaks happen, the price has been rising steadily in a very controlled manner. Due to its relative predictability, many traders adopted automated cryptocurrency trading as their analytical tool of choice. Various algorithms are used to analyze and forecast price changes and many of them are surprisingly effective.
The Tezos cryptocurrency is quite interesting to millions of investors looking for a good asset for holding over 2-3 years. It is also a dynamically evolving technological product backed by a thriving community of experts ready to bring change to the world of crypto!