Altcoin Community Proclaims Tezos As The New Ethereum

The altcoin community proclaims Tezos as the ethereum after they claimed it resembled ETH’s surge from 2017 since it has done quite a lot to improve its imperfections and keeps on doing so. In the tezos news now, we take a closer look at the similarities between the two.

The Tezos company seems to be developing fast with a lot of innovations and partnerships so some from the altcoin community argue that the price of the altcoin can skyrocket soon, resembling the ones of Ethereum in 2017. That year was the most intriguing for all cryptocurrencies and Bitcoin’s price even skyrocketed to almost $20,000 while Ethereum made a remarkable performance too. It started the year at about $8, reaching an all-time high of over $1400 in January 2018, becoming the second-largest crypto by market cap. This increase showed that ETH recorded a total price increase of 17400%.

The altcoin community has been looking for a new successor as Ethereum has been on a continuous downtrend and is now trading at $150. A few other projects have been named as the new Ethereum before but no one ever succeeded. It seems that the community believes that Tezos will fit this role the best. Both of them are blockchain protocols providing a platform for the creation of smart contracts and decentralized applications.

Tezos was introduced in 2018 and recorded a lot of interesting price movements after briefly reaching $2 after its release, following the market to $0.31 firstly this year. In June it surged to $1.85 and the altcoin has been outperforming most of the cryptocurrencies. Some people believe that Tezos is still in the accumulation zone and most of the price surge is yet to come. Some of the predictions include that XTZ will start a strong ascend by hitting $10 in January before skyrocketing even further. The current price is standing at about $1.62 and increasing by 500 percent means that the altcoin will reach the $10 price level.

Tezos is not shy about getting the latest upgrades and partnerships and it seems that the price is following any major news coming from the company. The company even signed a $1 billion deal with the largest investment bank in Brazil and the Dubai asset management firm Dalma Capital. The price was ready to act fast and increased 20 percent instantly.