Tezos jumps 15% to hit highest price since early June

Tezos, which falls just short of the top 10 crypto asset by market cap, is up big today. XTZ has hit its one-month high.

By Nicholas Marinoff

Jul 13, 2020

2 min read

Tezos. Image: Shutterstock

Tezos is on a tear.

While XTZ may have dropped to 13th on the cryptocrypto rankings by market cap, at this rate, it might soon flip EOS to regain that 12th spot.

Tezos jumped by more than 15% today and was briefly trading above $3 per coin for the first time since early June. XTZ has since cooled off a bit and is trading for right around $2.95—still a 12% increase on the day.

Prior, the last time Tezos price spiked this impressively was in late April, when the price of XTZ went from $2.14 to $2.86.

Tezos’s big day comes on the heels of news that blockchain services provider Figment Networks has launched a new platform known as Data Hub, which is supposed make it easier for developers to build atop certain blockchains such as Tezos.

Through Data Hub, developers can access various blockchains without having to run their own nodes, a process that can be exceedingly difficult and expensive to do.

Meanwhile, it appears to be a good day for the crypto market in general. The top three cryptocurrencies by market cap, Bitcoin, Ethereum, and XRP, are each up in price today by around 1-2%. Cardano and Chainlink, though, are giving Tezos a run for its money in terms of daily gains. ADA is up nearly 8% on the day, while LINK jumped by 10%.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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