09 Dec 2019 · 1 min read

Tezos Price Jumps 36% in a Week, Flips Tron, Cardano

After surging almost 36% in the past week, Tezos (XTZ), the best performing digital asset among the top 20 coins this week, is now ranked 11th by market capitalization (USD 1 billion), surpassing Tron (TRX) and Cardano (ADA).

Source: iStock/arthobbit

At pixel time (13:02 UTC), XTZ trades at c. USD 1.64 and is up by 7.5% in a day, increasing its monthly gains to 33%. The price surged by 296% in the past 12 months. Moreover, trading volume has also increased in the past week.

XTZ price and trading volume chart:

Source: coinpaprika.com

From a technical perspective, candlestick arrangement suggests that XTZ is resuming H1 bull trend. XTZ prices found support at the 61.8% Fibonacci retracement line of January-May trade range.

Meanwhile, Tezos is now one of the seven digital assets that have been assigned "B" rating by Weiss Ratings, a financial ratings agency. While only Bitcoin (BTC) and Ethereum (ETH) got B+, XTZ, together with Cardano, Litecoin (LTC), Ripple (XRP), and IOTA (MIOTA) has B-.

Recent Tezos news:

  • At the end of October, the Tezos Foundation announced it would be tokenizing about USD 25 million worth of a Manchester, UK, luxury property development in conjunction with tZERO;
  • Coinbase has begun offering staking rewards to its Tezos customers in most American states;
  • OKEx announced the XTZ staking service and started XTZ spot trading;
  • Tezos Southeast Asia partnered with RF International Holdings in order to promote cooperation in exploring Tezos applications to encourage adoption;
  • Additionally, Swiss primary stock exchange SIX listed a crypto exchange-traded product (ETP) tied to XTZ, issued by fintech company Amun AG.
  • The French Armies and Gendarmerie’s Information & Public Relations Center (SIRPA) announced that the Gendarmerie’s cybercrime division (C3N) “has been validating judicial expenses incurred during investigations and recording them on the Tezos blockchain” since September.
  • Bruno Le Maire, France’s Minister of the Economy and Finance, said recently that “the development of the blockchain ecosystem is a priority for the government,” while one of the startups that has caught his eye is Tezos.