With the speculations of a potential Alt season, many altcoins are surging from their lows of late. But, Tezos has been under the radar the whole time.
The token, after reaching a high of $3.1500 on July 4th, has been trading separately from the rest of the market. While the crypto market as a whole has been rather upbeat now, XTZ price has plunged 10%.
Tezos is currently trading at $2.69 down by 7.8% in the last 24 hours owing to BTC’s trajectory. Also, the price is currently trading below all three major moving averages too.
Despite all the negative price momentum Tezos in the last month has witnessed significant growth in adoption.
- Formula 1 powerhouse McLaren has chosen Tezos as their official partner for a planned NFT launch.
- USDC selected the platform for the issuance of its US dollar-pegged stablecoin
- Most recently, Crypto Task, the leading decentralized freelance marketplace is the latest project wooed by Tezos network’s efficiency.
Now that the broader crypto market is moving out of bearish momentum, this adoption progress might translate into a price surge for XTZ.
XTZ Price Poised for a 30-40% Rally!
While the market is swamped with predictions for the top 10 tokens. popular crypto analyst and trader Micheal Van de Poppe has made a case for Tezos.
In a recent Tweet, the analyst mentions If XTZ/BTC cements the 0.0000835 levels as support, the token can further surge to 0.0001185. That’s a staggering 30+% rise in value.
Many other tokens in the Defi sector such as Aavve, Synthetic Network, Compound have started their surge from the last market crash dumps. Although, Tezos has not shown any significant price surge yet, looking at the market behavior its probability of starting a rally soon cannot be discredited.