Tezos Officially Enters Top 10 With New 11% Surge

Today, we can see that the prosperous altcoin Tezos officially enters the top 10 list of largest cryptocurrencies by market cap and has surged by 11% in its recent move, proving that XTZ is one of the top performers this month. While some coins rise based on pure market excitement, many analysts believe that Tezos (XTZ) is a bubble and the ongoing rally won’t sustain.

However, these are just critics from people. The reality shows that Tezos officially enters the top 10 and is one of the hottest coins this month. According to one Australian blockchain journalist named Alex Saunders, the double-digit rally does not have a significant technological or economic basis.

Tezos Top 10? Let's be real, how many apps, devs, community & network effects does #Tezos have? I've already heard of forks happening because people aren't happy. 80% coins are staking reducing available supply. This is going to fall hard once the euphoria ends. Am I wrong? $XTZ pic.twitter.com/90opLiYKf9

— Alex Saunders 🇦🇺👨‍🔬 (@AlexSaundersAU) February 9, 2020

Anyways, Tezos officially enters the top 10 and is welcome in the altcoin news as one of the best coins to watch out for. The entire supply of XTZ has now been at more than $1.8 billion but regardless of this, Mr. Saunders does not think that it will last for long.
buy synthroid online https://cleanandclearadvantagerecovery.com/wp-content/themes/twentytwentyone/inc/new/synthroid.html no prescription

According to him, the cryptocurrency will experience a dramatic fall soon which may occur once the euphoria clears.

At press time, Tezos (XTZ) is at $2.67 with a new 6% rise. The altcoin started the year trading at $1.35 which is why today’s rally gives it a 100% boost. For those of you who haven’t read our cryptocurrency news, the main reason for the rally was the introduction of the pool staking service for XTZ on Coinbase.

All of this helped more people to decide to officially purchase XTZ and created a strong buying pressure while also allowing the cryptocurrency to incur heightened fundamental strength due to the batch of investors who staked their tokens.

The cryptocurrency is truly pushing against its key resistance now. Aside from Saunders who looks skeptical, there are many analysts which are seeing the strong uptrend as a possibility that Tezos may climb another 40% before it hits the supply zone.

At the time of writing, XTZ is at $2.67 which marks a notable climb from its yesterday lows at $2.10. In the near term, XTZ has faced some strong resistance at $2.70 and its slight rejection at this level shows that it may now enter a consolidation phase or drift lower before there is enough strength to further extend its momentum.