Tezos (XTZ) is making solid gains this year amid continuous buying activities on multiple developments.
Key Developments
For as long as the crypto sphere has existed, Bitcoin has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, Bitcoin’s rise has been nothing but spectacular, and any fluctuation in the price of the token can result in similar effects on all other tokens. In other words, Bitcoin remains the most powerful cryptocurrency in the world, and it is not only because of the incredible gains that it has recorded through the first half of 2019.
However, it is important to point out that despite the 200% gains that BTC has clocked in 2019 so far, there is another cryptocurrency that has been just as impressive this year.
The cryptocurrency that has matched Bitcoin’s yearly gains so far this year is Tezos, which used to be a little known token but is now much better known in the crypto space. At this point in time, the Tezos token has generated gains in excess of 200% this year so far and ranks as the 16th biggest cryptocurrency in terms of market capitalization. Its market cap has climbed steadily as well, and it currently has a valuation of $1.5 billion.
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In this week alone, Tezos has managed to gain as much as 15%, and it is believed that the current spike was due to a positive development at a major crypto exchange. The influential United Kingdom-based crypto brokerage eTORO rolled out trading support for Tezos, and that proved to be the major trigger behind the significant gains that have been generated in the week so far.
Tezos is definitely on a roll this year and has been attracting a lot of attention from people who matter. It would be interesting to see if the token can continue to generate such impressive gains over the coming months.
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