In the past year, Tezos (XTZ) has topped out near $1.75 twice, briefly. Yet in the past 24 hours, it hit the $2 mark and is currently holding firm in the $1.90 range. This puts XTZ at its highest point since Q3 2018!
Let’s take a look at a couple of factors that are driving the XTZ price increase.
- XTZ is being offered to consumers free on Coinbase.com as a reward for taking a class about what XTZ is. This (and other programs) is no doubt increasing consumer awareness of XTZ and its potential benefits. Try it here, if you don’t already have a Coinbase account. You can also earn XLM (Stellar Lumens) and BAT (Basic Attention Token) this way. In fact, Tezos is actively giving away coins via the Tezos Faucet (more information).
- The political problems Tezos had in the past are largely fading away. No one seems particularly upset about anything the management is doing, at the moment.
- End users are attracted to the staking method of blockchain verification. Nothing says “Pick me!” to a new Coinbase or other crypto minor investor quite like 5.44% APR paid in the token of your choice, which you probably think will also appreciate in value.
I am far from a cryptocurrency specialist or journalist, but I can read and I’ve been watching for a while now. I find it somewhat unlikely that Vertalo’s recent decision to use Tezos is responsible alone for the price jump we’re seeing today, but who knows? I picked up some XTZ. I hope it goes to the moon.
Did I miss anything? I'd love to hear your thoughts in the comments.
