Tezos Price Goes Parabolic While Market Bleeds: Analysis

The tezos price goes parabolic over the weekend, continuing its growth from the past weeks, and XTZ appears to be untouchable by the recent cryptocurrency market fall. XTZ signals a possibility for a successful quarter, going up to $1.33 as we are seeing today in our Tezos news today.

The growth of Tezos is confusing the buyers because there is no important, underlying reason for the appreciation. The hype related to the new addition to Coinbase of XTZ is the best explanation, making the currency more accessible.

The tezos price move follows the bullish chart indicators, which help to move a relatively small market. Tezos’s trading volume clocked around $113 million in 24 hours and is the second-biggest in the coin’s history. In the past month, XTZ moved up from stagnant positions around $0.76, once again attempting to move into a price of a few dollars.

The XTZ price is moved by bullish chart indicators because the chart indicators can help to move the relatively small market. One of the setbacks for XTZ was that it was a latecomer, with the main net launch during the bear market.

This pushed down market prices, as XTZ struggled for listings, and the asset went through a new phase of price discovery. The preliminary token, only thinly traded, easily moved to $4-5, but the asset was not as lucky.

It looks like Tezos now is catching up. Being traded only on a small number of exchanges, the cryptocurrency has a unique trading profile. The biggest concentration of volume is on Binance, also Kraken and Coinbase have a solid amount of XTZ. XTZ will be allowed to rise based on a pump activity concentrated on those markets.

As a result of the fact that 27% of XTZ’s volumes are directly against the US dollar, and 30% are against Tether (USDT), the token’s price is highly independent of the Bitcoin (BTC) fluctuations.

Despite the newest developments with the bear market, the Tezos community is another benefit because of its strength.  Amun’s attention, who is a creator of exchange-traded products for crypto assets, was drawn by the Coinbase option for custodial wallets and the latest revival of Tezos. XTZ is Amun’s ninth choice from various cryptos for creating products for the European market.