Connect with us

Plato Vertical Search

Blockchain

This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau

The host of popular crypto channel Coin Bureau is exploring if veteran altcoin Tezos (XTZ) has what it takes to recapture previous all-time highs during the current bull run. In a new video, the analyst known as Guy tells his 1.84 million YouTube subscribers that the Ethereum (ETH) competitor’s built-in adaptability is key to its […]

The post This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau appeared first on The Daily Hodl.

This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau Blockchain, Coin Bureau, News CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

The host of popular crypto channel Coin Bureau is exploring if veteran altcoin Tezos (XTZ) has what it takes to recapture previous all-time highs during the current bull run.

In a new video, the analyst known as Guy tells his 1.84 million YouTube subscribers that the Ethereum (ETH) competitor’s built-in adaptability is key to its long-term prospects.

“Tezos is one of the few cryptocurrencies that has been explicitly designed to evolve so that it may not only survive but thrive…

Tezos is on track to become one of the top cryptocurrencies.”

Tezos was first proposed in 2014 and native token XTZ launched in 2018. According to the project website, Tezos values both design and governance as keys to ensuring success.

“Tezos is an open-source platform that addresses key barriers facing blockchain adoption for assets and applications backed by a global community of validators, researchers, and builders.

By design, Tezos embraces long-term upgradability, open participation, collaboration, and smart contract safety.”

The Coin Bureau host notes that the price of XTZ still remains undervalued after three years, especially in relation to how Bitcoin (BTC) and Ethereum have done over the same period of time.

“XTZ hasn’t performed all that well compared to most other cryptocurrencies… only up about 10x. If ICO [initial coin offering] participants had held onto [their] BTC and ETH instead, they’d be up almost 20x.

Advertisement. Scroll to continue reading.
This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau Blockchain, Coin Bureau, News CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

It’s safe to say that the Tezos Foundation is aware of the store-of-value properties of BTC.

Put simply, it’s likely the Tezos Foundation is getting a substantial amount of money from sales of XTZ whether from initial allocation, from staking and delegation rewards, or both.

The supposed selling by these and other entities such as institutional investors is probably why XTZ’s price has been suppressed since the start with few exceptions.”

Guy goes on to mention several significant corporate partnerships which have given XTZ’s price a boost, including with game developer Ubisoft last April and Red Bull’s Formula 1 racing team in May. The music-focused non-fungible token (NFT) marketplace OneOf was built on Tezos and raised over $60 million in capital last year.

The YouTube host concludes his XTZ analysis with a price prediction.

“As poor as XTZ’s price action has been, there’s no denying that its institutional partnerships are pretty impressive.

These partnerships, as well as Tezos’s continued upgrades and new DApps [decentralized applications], are starting to create some serious demand for XTZ.

This can clearly be seen in the positive price trend it’s been in since the previous bear market. If this momentum keeps up, I wager we could see XTZ retest its previous all-time high of $10 before the bull market is over.”

At time of writing, Tezos is down 4.76% to $4.26. It began 2022 at around $4.50 and surged to as high as $5.31 before sliding back on Wednesday.

I

Advertisement. Scroll to continue reading.
This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau Blockchain, Coin Bureau, News CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Check Price Action



Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix


&nbsp
Check Latest News Headlines



 

This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau Blockchain, Coin Bureau, News CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

The post This Ethereum Competitor Could More Than Double Its Price in Coming Months, According to Coin Bureau appeared first on The Daily Hodl.

Web3 Reimagined. Data Intelligence Amplified. Click here to access.

Source: https://dailyhodl.com/2022/01/08/this-ethereum-competitor-could-more-than-double-its-price-in-coming-months-according-to-coin-bureau/

Advertisement

Latest Blockchain Streams

Blockchain

Bullish GRT price prediction is $0.7922 to $1.67. GRT price might also reach $2 soon. GRT bearish market price prediction The post has appeared...

Blockchain

For years now, some investors have preferred to hold their wealth in cryptocurrencies like bitcoin and ethereum as opposed to cash. As cryptocurrencies become...

Blockchain

QANplatform, a quantum-resistant Layer 1 hybrid blockchain platform that enables the creation of quantum-resistant innovations in any programming language has launched its TestNet following...

Blockchain

Seattle, United States, 18th January, 2022, Chainwire Stably, a US venture-backed stablecoin and asset tokenization infrastructure provider, announced it has The post has appeared...