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Tezos (XTZ) Price Continues To Rise

Anna Martynova

Tezos (XTZ) continues to grow. For the year from September 27, 2020 to September 27, 2021, it grew by 243%, reaching $6.8895 per token. Tezos showed an upward monthly trajectory. 30 days ago, it rose 62.9% from $5.30.

XTZ was worth $5.51 on Wednesday after several days of steady decline. XTZ is trading at $8.56 at the time of writing, according to CoinMarketCap. Tezos trading volume in the last 24 hours is more than $2 bln. The XTZ last crossed the $8 mark in May 2021. However, the position could not be maintained due to a market crash, as a result of which XTZ fell to $2.430 and then closed at $3.606.

The last Tezos upgrade was carried out in August 2021. The update reduced the block time and significantly reduced the gas volumes for the operation of smart contracts – commissions decreased by 3-7 times. The decrease in commissions attracted new users to the network, which had a positive effect on the price. Tezos’ official data as of September 26 2021 showed that 76.16% of the total supply was staked on the network. Staking would lead to a limited number of tokens on the market, and aid in inducing an upward trend in price.

Image: Cryptopolitan

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