Tezos Price Spikes 10% In 24 Hours, Signaling Recovery From Recent Setbacks


Tezos, a cryptocurrency that launched its crowdsale in July 2017 with the promise of being the first “self-amending” cryptocurrency, posted a 10 percentage point gain in the last 24 hours, a sign that it is recovering from some recent setbacks. Today’s bump could reflect a stabilization following the hit that the tezos price experienced as a result of its internal disputes and class action lawsuits related to its ICO, which raised $232 million.

tezos price
Source: CoinMarketCap

The price was $1.56 at 4:39:11 UTC today and reached $1.90 at 4:49:11 UTC, according to CoinMarketCap. The price was $2.07 on July 28 before slumping to $1.56.

Stabilization Following Setbacks?

The tezos price has been improving since hitting a low of $1.41 on July 5. The price spiked at $11.21 on Dec. 17, driven in part by the marketwide soar at that time.

The cryptocurrency’s fortunes suffered from some conflicts within the Tezos organization and several class-action lawsuits that alleged the token was a security. Tezos’ fall made it one of the biggest losers in the past year among the “billion-dollar coin club,” consisting of 18 cryptocurrencies.

PriceWaterhouseCoopers recently agreed to audit the Tezos Foundation’s finances to enable the foundation to operate with integrity, marking the first time a “big four” auditor agreed to audit a large blockchain organization, which some see as an indication of the financial service industry’s growing comfort with cryptocurrency.

Also read: Tezos Foundation taps ‘big four’ firm PwC for independent audit

A Unique Network

Tezos was developed to be “self-amending” and to evade hard forks, which its founders, Arthur and Kathleen Breitman, saw as a fundamental problem with cryptocurrencies.

The permissionless network relies on a smart contract in which developers can propose upgrades to the protocol. Tezos uses a proof-of-stake system, rewarding users for their investment as opposed to their use of computing power. Users vote in proportion to their holdings in the system.

Tezos continues to trade at a price higher than the $0.47 token price during the ICO.

It is currently the 18th largest cryptocurrency with a market capitalization of $1.162 billion.

Featured Image from Shutterstock

Follow us on Telegram or subscribe to our newsletter here.
Join CCN’s crypto community for $9.99 per month, click here.
Want exclusive analysis and crypto insights from Hacked.com? Click here.
Open Positions at CCN: Full Time and Part Time Journalists Wanted.

Advertisement


Author: Lester Coleman

Source link

Related posts

14 Thoughts to “Tezos Price Spikes 10% In 24 Hours, Signaling Recovery From Recent Setbacks”

  1. 醫學美容-高鈣-髮油-cosmetic-wiki

    香港美容專欄作家Yoko Tsang: 愈懷孕愈快樂 之 約你食餐飯 香港美容專欄作家Yoko Tsang: 愈懷孕愈快樂 之 約你食餐飯

  2. Football Solutions Lampard looking to leave lasting impression - UEFA EURO - News

    Liverpool chairman Tom Werner and owner John Henry are encouraged by positive signs in the team’s performances in the last few weeks and are looking forward to the return of Daniel Sturridge. Liverpool chiefs encouraged by positive signs as Tom Werner and John Henry eagerly await return of Daniel Sturridge

  3. futbol.run Sevilla

    Chelsea will bid £4million for Southampton left back Luke Shaw this week as they begin a massive rebuilding job at Stamford Bridge. EXCLUSIVE: Chelsea set to bid £4m for Saints starlet Shaw

  4. Ados Chienne Sexe Cam

    … [Trackback]

    […] Information on that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  5. Ylilauta Seksi Video Kreikka Mp3

    … [Trackback]

    […] Find More here on that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  6. Femmes Sexes Solo Webcam

    … [Trackback]

    […] There you will find 2092 additional Info on that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  7. DevOps Services company

    … [Trackback]

    […] There you will find 29678 more Info to that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  8. philly golden teacher

    … [Trackback]

    […] Find More here on that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  9. สล็อตวอเลท

    … [Trackback]

    […] Find More to that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  10. hvac repair

    … [Trackback]

    […] Find More on to that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  11. sbobet

    … [Trackback]

    […] Read More Info here on that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  12. Key Wall Safe

    … [Trackback]

    […] There you will find 82974 more Information to that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  13. mr mushies chocolate bar

    … [Trackback]

    […] There you will find 71599 additional Information to that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

  14. Texas cornhole

    … [Trackback]

    […] Read More to that Topic: tradingbtc.com/2018/08/03/tezos-price-spikes-10-in-24-hours-signaling-recovery-from-recent-setbacks/ […]

Leave a Comment