Tezos XTZ price forecast and new developments
Strong price performances indicate that the concept can quickly stand up to the competition. This is currently true for Tezos (XTZ), an open source project that has been one of the most well-known and largest projects within the cryptocurrency world since 2019. Is the forecast for Tezos (XTZ) therefore a positive one?
The Swiss „Tezos Foundation“ developed the concept in 2014. The two founders were Kathleen and Arthur Breitman, while the company „Dynamic Ledger Solutions“ has since acquired the rights to the open-source code.
With a daily trading volume in the billions and a Bitcoin Trader current market capitalisation of $3.51 billion, Tezos has cemented its place in all daily transactions and is considered by those in the know to be a strong competitor to Ethereum.
As a blockchain platform that is already popular after a short time, Tezos is not only comparable to well-known and tried-and-tested cryptocurrencies such as Ethereum, but also relies on a modern and independent concept that is characterised by advanced ideas.
This refers to the entire proof-of-stake process and other advanced model applications. For this purpose, various Tezos wallets are available, which allow baking (similar to staking) with both hardware and software wallets and offer the highest level of security.
One of the decisive features of Tezos is that no mining is used to generate the cryptocurrency, but rather the so-called baking. Investors who own more than 8,000 XTZ can participate in the „baking“ and receive a reward in the form of new Tezos coins.
However, you can also participate indirectly in the process if you use a corresponding crypto exchange that supports this process. How to „beacon“ Tezos without owning 8,000 Tezos can be found in the Coin-Staking article from Bitcoinbasis.
In terms of Initial Coin Offering and revenue, Tezos has already broken the previous record and has survived short-lived legal disputes. The potential is therefore huge and can be better defined with a forecast.
Analysis and forecast for Tezos and market capitalisation
In a Tezos forecast, which requires a comprehensive look at cryptocurrency prices, two approaches are available to provide insight into the development. One is technical analysis and the other is fundamental analysis. The technical analysis includes a look at all price data and derives future developments from it.
This is how all leading educational portals and experts handle it. The fundamental analysis focuses on the blockchain data of Tezos and the development of the technology. For investors, this data is also important in order to get an idea of the Tezos share price development.
A forecast allows for a better estimation of the market development. Several factors are important for the forecast, which allow for a detailed evaluation. The XTZ price is influenced by the functionality, the good and bad headlines, by the competition and by the potential of the cryptocurrency XTZ.