Tezos Jumping 33% Over The Past Week, The Global Crypto Market Reaches $180 Billion

Tezos (XTZ) brought home the title of the best performing cryptocurrency to date, with its price soaring from $0,96 to $1,38 as of press time

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The 33-percent increase came after France`s finance minister Bruno Le Maire gave Tezos positive remarks during the Blockchain Week Summit, held in Paris.

XTZ`s overall market capitalization spiked briefly over $930 million, settling at $910 million, according to Cryptobrowser data. Daily trading volumes surpass $12 million as institutional investors and crypto enthusiasts are getting on the Tezos train to higher prices.

The increase in XTZ`s price will most likely continue, as Le Maire stated that „the French government has the main priority of integrating blockchain solutions into its economy. Tezos has a protocol which eliminates the known issues with other public blockchain protocols“.

Tezos managed to gain forward momentum shortly before the long-awaited listing on one of the largest crypto exchanges to date – Coinbase. From $0,98 on April 14th, Tezos sore up to $1,43 on April 19th, despite the slight correction.

The 1-hour Simple Moving Average is still staying behind the upward trend, allowing a new flow of capital for Tezos owners.

Tezos is dubbed as the most successful ICO ever. The Tezos Foundation managed to raise over $232 million. The Tezos mainnet launched on 14th September 2018 with growing popularity ever since.

However, Tezos has seen better days, but the bearish crypto race from the end of 2018 put the altcoin to the test.

Tezos differs from other cryptocurrencies with three major innovations – the liquid Proof-of-Stake, native programming language, and on-chain governance. The liquid PoS consensus allows users to have smaller consensus barriers, thus – increasing efficiency. The Michelson programming language is native to the Tezos blockchain which improves security with a newer smart contract verification. The on-chain governance allows all Tezos-related activities, such as voting for a network update (soft and hard forks), developer token allocation.

With Tezos`s rapid price increase, the total market capitalization surpassed the $180 billion mark, hitting a high of $181,1 billion on April 19th. As of press time, the total crypto market capitalization sits at $179, 4 billion, with Bitcoin returning to its dominance over the other cryptocurrencies – 51,9% in favor of Bitcoin.

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