- XTZ is designed to correct the safety code required for assets and other highly valuable protocol and application layers.
- Tezos is now in an elite club that rarified top 0.40% of crowd as per the news of 22 July
- The RSI oscillator for TEZOS shows the SELL action.
The token has shown the pattern of engulfing bearishness in the last 24 hours. It has a circulating supply of 853,915,887 XTZ coin and maximum supply is not available.
The last known price of the token, XTZ, is 2.79 and is low by 8.74% over the last 24 hours. It has the current trading volume(s) of 164,747,454 with a gain of 19.85% over the last 24 hours. TEZOS has addresses of 21,181 and the active address(es) not mentioned. The ATH of this token went on 7 May 2021 with the value of 8.40 and low went on 7 Dec 2018. The ROI of this coin is 496.1%(approximate return on investment if purchased at the time of launch).
The chart above shows the movement of XTZ where 200 DMA has been running above it and even DMA-50 was above it until 23 July. We see the token with respect to SMA’s which are 20, 50 and 200 and it is SMA-20 which is behind one(SMA-200) SMA but above the other(SMA-50). We see a downward pattern where the bears’ win is visible. The trend line marked shows this downwards shifting. The candles forming now are about to touch the level of SMA-200 and would float above it for next one day. XTZ is all set to trade for an intraday session.
Its top 10 and 20 holders have more than 55% holdings and top 50 and 100 have more than 40%.
An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 38.984 and marks the sell action. MA-5 shows the buy action whereas MA-10 and MA-20 and MA-50 show the sell action. Even MA-100 and MA-200 show the same buy action. However, the token at present is all set to buy but for intraday.
The bull/bear power has the value of -0.1087 and shows the sell action. The high/low marks the sell action with the value of -0.0535.
The XTZ-BTC pair is trailing at the level of 0.00007547 and the low of 5.52% was seen whereas the XTZ-ETH pair is trailing at the level of 0.001277 and the low of 2.84% was seen in the last 24 hours. The volume/market cap of the token is 0.06974 and its market dominance is 0.16%.
Conclusion: The days range for the coin is 2.74-3.11 and presently is at 2.796. The 24 hours high and low of the coin is 3.12 and 2.75 respectively. We observed that the coin is going higher and would continue to be like this in the coming 24 hours. As the retracement is taking place, crypto holders are showing interest in it.
- The unit is USD
- SMA-20: Green colour
- SMA-50: Red colour
- SMA-200: Blue colour
Tezos Price Analysis: XTZ could break past the $7.5 mark if bulls persist
- Tezos price analysis is bearish for the next 24 hours.
- Tezos saw a bounce from $6 support today.
- Further upside currently gets rejected.
The market is presently rejecting any higher development in the direction of $7.5, which was a strong support earlier this week. As a result, we anticipate XTZ/USD to make another attempt to test the $7.0 support in the near future.
Over the past day, the market as a whole has been in the green. Bitcoin has climbed 1.85 percent, while Ethereum has advanced just 0.36 percent. Meanwhile, Solana (SOL) is the standout performer, increasing by 16%.
Tezos price movement in the last 24 hours: Tezos bounce from the $6 mark
After a recent decline against the US dollar, OST/USD is now pushing higher. The pair was up over 5% at one point today, and after testing resistance at $6.19, it moved to $6.48 before slipping back to the upper boundary of its daily range. Trading volume has been pretty low this morning; as of
XTZ/USD 4-hour chart: XTZ to go for another test of the $6 support?
On the hourly chart, we can see that the Tezos price has failed to move significantly higher today, suggesting another bearish trend overnight.
The price of Tezos has appreciated this month, with bullish momentum returning. After a drop to $4 on the 7th of September, a new sizable swing highlow was established.
On September 14th, XTZ/USD was up 100 percent to $8. However, the market did not remain there for long; instead, it reversed in the days that followed.
The Tezos price dropped 25 percent on Monday, with $6 serving as a support the day before. XTZ/USD has had a modest upward swing today, with bearish momentum returning over the past hours.
Tezos Price Analysis: Conclusion
For today, November 13, the Tezos price analysis is bearish. Bulls were unable to propel the market higher than $6.7 today, therefore we anticipate XTZ/USD to decline overnight and attempt to recover at $6.
Read our articles on Wrapped Bitcoin and NFT Marketplace while you wait for Tezos to progress further.
Proposal for Tezos’ 8th Protocol Upgrade Hangzhou is Announced
In a blog post on Tuesday, September 21, the Tezos team said that the Hangzhou proposal features several major improvements to the protocol, as well as numerous minor improvements. These improvements include timelock, views, cache, global table of constants, context, and liquidity baking.
According to a separate blog post explaining the Tezos’ 8th protocol upgrade by Nomadic Labs, Marigold, Oxhead Alpha, Tarides, and DaiLambda, the teams who developed the proposal, Hangzhou true name is its hash, which is
The upgrade is named after the capital of East China’s Zhejiang province, Hangzhou. This name is given to the upgrade because it has now become a dynamic economic zone, and is considered a major technological and innovation hub.
What Hangzhou Upgrade Features?
Some of the major improvements that this upgrade will bring to Tezos protocol include:
According to the teams involved, views are a new kind of entry point for smart contracts that will allow smart contracts to read the storage of other smart contracts.
Timelock is a kind of encryption that will allow a smart contract to include a countermeasure against Block Producer Extractable Value.
Global Table of Constants
The blog post describes this as:
“The global table of constants can be used by smart contract developers to register Michelson (the language of smart contracts in Tezos) expressions as “constants” and reference them in contracts. This allows developers to create larger and more complex contracts than they otherwise could. It will also serve as the foundation for smart contracts libraries in Tezos.”
According to the teams, adding cache feature will directly increase the throughput of Tezos by providing faster access to regularly accessed data and will lower the associated gas cost.
Context Flattening and Liquidity baking
Context flattening is the rewriting of the network’s database internals that will optimize storage use, and enable future optimizations to speed up the processing of blocks and operations.
According to the blog post, liquidity baking “extends the sunset period of liquidity baking to correspond to the next upgrade proposal. Without this, the subsidy would halt during the lifespan of this protocol.”
Tezos’ 8th protocol upgrade will also have many other minor improvements.
No other blockchain has upgraded as many times as Tezos. Hangzhou is the fourth Tezos protocol in 2021, following Edo, Florence, and Granada. If the Hangzhou upgrade proposal is adopted, it will follow the 7th Granada upgrade that went live on August 6th, 2021.
When Hangzhou will go live, it will set the stage for the next upgrade that is reported to introduce a new consensus algorithm that will bring fast finality to Tezos.
Tezos Announces Hangzhou Upgrade Proposal
Tezos is ready to implement the Hangzhou upgrade.
Tezos blockchain has received its newest upgrade proposal for the global Tezos community. The Hangzhou proposal sets the Tezos ecosystem up for the upcoming 2022 consensus upgrade and also introduces a number of new technical tools and patches.
The proposal was named after the global technology and innovation hub located in China—Zhejiang province. The update was presented with the usage of on-chain governance that allows network updates without hard forks.
The constant development of Tezos at the protocol level has led to the expansion of Tezos’ Dapp system. By decreasing transaction costs and time, builders have more possibilities for building and developing apps on top of the Tezos blockchain. In general, it has led to the increased growth of the Tezos community in recent months. Recently, Tezos reached over three million contract calls and set numerous records in DeFi and NFT metrics, doubling last month’s results.
The most recent upgrade proposal brings several major upgrades to the protocol. The new upgrade presents views that offer the possibility for smart contracts to read other smart contracts and cache results with lower gas costs. The upgrade will also add a Global Table of Constants that will be used to allow smart contract developers to register Michelson expressions as constants. This means that they will be able to build more complex contracts and libraries based on Tezos.
To optimize the functioning of smart contracts on the network, the upgrade brings Context Flattening, which allows optimization of block processing and operations. In addition to that, the network welcomes Liquidity baking, which allows for a more stable transition to the next upgrade proposal.
Tezos already has seven upgrades since last month’s Granada upgrade. The network has also faced a record number of interactions than ever before, which means that more people are using Tezos. The main reason for this is protocol upgrades that are possible through on-chain governance.
The Hangzhou proposal was developed by Marigold, DaiLambda, Nomadic Labs, Tarides and Oxhead Alpha.
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