Forex and Crypto News

What is the reason for the unexpected rise of Tezos by more than 30%?

13:39 31 July /2019

Over the past few hours, Tezos has shown aggressive growth, jumping in price by more than 30%.

On Wednesday, June 31, the coin is trading at around $1.23, and it's market capitalization now exceeds $825.502 million. The daily trading volume of the asset reached $17.173 billion.

tezos-tether-31-July.jpg

If you look at the chart of the movement of the coin, you can see that the previous time Tezos was traded about this level at the beginning of July. Then Tezos descended under the influence of weaker investor interest in Bitcoin. On July 30, the token dropped to $1, but later, the rally resumed.

Analysts believe that the main reason for the breakthrough was the decision of the Coinbase Pro platform to launch operations with Tezos.

Users of the trading platform will be able to conclude transactions with this digital asset from, 1 August. The platform announced this on Twitter and clarified that the listing will be divided into four stages. Initially, traders can only deposit accounts, and full-fledged trading will be limited.

Only at the fourth stage investors will be allowed to make any transactions with the coin. Some analysts believe that during the first two days of August, trading volumes of Tezos coin will rise to a new maximum, and the cryptocurrency may approach the $2 mark.

In September last year, a similar situation was observed. Then the token took off after the developers launched their own high-performance blockchain Tezos.

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