Tezos Jumped 9% As Bitcoin Dipped Again Towards $20K

Tezos jumped 9% and is among the few crypto assets in the green while Bitcoin moves close to $21,000 again so let’s read more today in our latest altcoin news.

After a few days of exploring higher grounds, BTC reversed its trajectory and dipped to $20,000 once again. Most altcoins are in the red today with DOGE, SHIB, AVAX, and SOL marking some daily drops. Tezos on the other hand defied the market sentiment. After the month-long massacre that led BTC to $20,000, the past week was more positive for the asset as it recovered by $4000. then came the weekend where BTC remained calm and stood firm at $21,000 and spiked to a ten-day high of over $21,800 but was stopped there.

In the next few hours, the cryptocurrency started losing value and found itself dropping once gain with the daily low coming at $20,500 but the community fears that it will drop to $20,000 or lower. BTC bounced off and it is now trading near $21,000 but its market cap slipped below $400 billion with the dominance over altcoins sitting at 42.5%. despite the price developments, investors withdrew large portions of their BTC holdings with the number of coins sitting on exchanges dropping to a 3-year low.

Tezos jumped 9% as most altcoins followed BTC south on a daily scale. Ethereum tapped a multi-day high during the weekend but then failed to increase further. In the past day, ETH dropped by over 1.5% and now trades above $1200 while BNB is down by a similar percentage and it is close to $240. Cardano, TRON, Ripple, and LEO all dropped by 4% in one day and more daily drops are evident from DOT, SHIB, AVAX, MATIC, and DOGE. They were up as well over the past week but now SOL Reached $40, DOGE at $0.07, DOT below $8, and aVAX under $20.

Tezos and ApeCoin are among the few assets in the green and XTZ is up by 9%in the day and sits at $1.65 while APE surged by 6.5% after the video with Eminem and Snoop Dogg was released.

As recently reported, Similar to Ethereum, Tezos is a smart contracts platform that enables developers to create decentralized applications and some of the most popular use cases like DEFI and NFT. The main difference is that instead of the energy-hungry PoW mechanism, it relies on the eco-friendly Pos model. The rest of the market is trading sideways at the moment.