Tezos (XTZ) turned away from its downtrend on Tuesday to an impressive 51% after news that Ubisoft’s new NFT platform is built on Tezos blockchain went viral. Tezos price is up approximately 30% in the past 24 hours. Its daily trading volume has rallied a massive 498% to $1,476,629,835 in the past 24 hours with the market capitalization leaping 27% to $4.65 billion. XTZ is now position at 40 on CoinMarketCap and teeters around $5.4550.
3 Reasons Behind XTZ’s Rally
The year 2021 has been great for the crypto industry and apart from market leaders, Bitcoin and Ethereum, recording new all-time highs (ATHs), the rising popularity if Non-fungible tokens (NFTs) coupled with the emergence of decentralised finance (DeFi) blockchain networks has increased the mass adoption of the blockchain technology.
The project behind the Tezos network has significantly benefited, particularly with its focus on NFTs and the environmental concerns that have always gripped the crypto space. As a layer 1 smart contract protocol, Tezos (XTZ) is capable of improving its network without requiring a hard fork.
According to the data from TradingView, Tezos bounced from the December low around $3.45 rising 70% to a high of $5.894 on Tuesday. Three things have been credited for the recent uptick in XTZ/USD price:
- The launch of Ubisoft NFTs on the Tezos blockchain
Tezos has partnered with Ubisoft, one of the world’s largest digital gaming companies, which is launching its new Ubisoft Quartz NFT that will be built on the Tezos blockchain. Announcing this partnership, the Tezos team tweeted:
.@Ubisoft Quartz is built on @Tezos, an energy-efficient and self-upgradable Proof of Stake blockchain.
Learn more at https://t.co/MzfgmL4IrX#Tezos #CleanNFT #BlockchainEvolved https://t.co/XlSEZeVlmM
— Tezos (@tezos) December 7, 2021
Games based on blockchain platforms have gained traction in 2021 and a partnership with one of the largest video game makers in the world could lead to long-term bullish outcomes for Tezos (XTZ). The beta version of the Ubisoft Quartz is scheduled for launch tomorrow December 09. It will be open to players of Tom Clancy’s Ghost Recon: Breakpoint and players who meet certain criteria will be able to claim three free cosmetic NFTs from drops for early adopters of the platform.
- Focus on environmental protection
Tezo’s focus on creating an environmentally friendly and sustainable blockchain network has also reinforced the rally in XTZ price. The network’s proof-of-stake consensus mechanism offers an energy-efficient alternative to energy intensive proof-of-work protocols such as Bitcoin (BTC).
According to their latest report “the total annual carbon footprint of the Tezos blockchain is equivalent to the average energy footprint of 17 global citizens.” The company behind the Tezos network has a goal of reducing the energy required to operate the network. It has a reported a 70% increase in energy efficiency on a per-transaction basis for the network in 2021, this is 30% less than in was in 2020.
In accordance with the requirements of ISO 14040 and 14044 standards, the Tezos Life Cycle Assessment – conducted by PricewaterhouseCoopers Advisory SAS – a French member firm of the PwC network of member firms – looked at the energy consumption and carbon footprint of nodes on the Tezos network and was subject to a critical review by an independent expert hired by Nomadic Labs.
Tezos Energy Consumption at a glance:
- Average energy footprint of 17 world citizens.
- Tezos consumes approximately 2.4E-4 g CO2 eq. per unit of gas
- Tezos consumes approximately 2.5 g CO2 eq. per transaction.
- Annual energy consumption is estimated at 0.001 TWh
The low carbon footprint of Tezos means developers and users can prioritize innovation without compromising sustainability.
- Increase in revenues and transaction volumes
There has been a spike in transaction volume and protocol revenues on the Tezos network in the recent past. The protocol revenue has hit its highest in 2021. From the graph below, it can be seen that the daily XTZ trading volume peaked at $369 million on December 03, which is a hint that some investors had caught wind of the Ubisoft news.
The spike in activity and revenue came as Tezos announced the completion of its Hangzhou upgrade. This is the eighth protocol upgrade for the Tezos network demonstrating the project’s ability to self-amend and self-upgrade without the need to conduct a hard fork.
Tezos price rally aims for $7
As XTZ/USD price turned away from the downtrend, it rallied in a price action that saw it flip several resistances into support including the $4.0 psychological level, the 200-day Simple Moving Average at $4.67 and the $5.0 psychological level
XTZ/USD Daily Chart
The rally was stopped by the $5.83 major resistance level. A rise above this level could trigger massive buy orders that are likely to push Tezos upwards $7.00 psychological level.
Note that the parabolic SAR has just flipped from negative to positive and moved below the price suggesting that XTZ market momentum is now bullish.
Moreover, the MACD has just sent a buy Tezos signal on the daily chart. This happened today when the 26-day Exponential Movign Average (EMA) (blue line) crossed above the 26-day EMA (orange) accentuating the bullish narrative .
On the flipside, a close below the $5.40 level could see XTZ price plunge below the $5.0 psychological level to tag the 200-day SMA around $4.671. Losing the 200-day SMA could trigger massive sell orders that might see the price of the DeFi coin drop towards the December 04 low below $3.87.
Where To Buy Tezos Now
If you are looking for to buy cryptocurrencies such as Tezos (XTZ), global crypto exchanges such as eToro are worth a look. Read our guide on the best trading platforms for a review of eToro to find out more about the pioneer on social trading.
With eToror, there are no trading fees, with the platform making its money in the spread between the bid and ask price. The minimum trade size for crypto assets is $25.
Looking to buy or trade Tezos (XTZ) now? Invest at eToro!
Your capital is at risk
Read more:
It’s truly a nice and helpful piece of info. I am satisfied that you shared
this useful information with us. Please stay us
up to date like this. Thanks for sharing.
Wonderful goods from you, man. I have understand your stuff previous to and you are simply
too excellent. I really like what you’ve acquired
here, really like what you are stating and the way in which
wherein you are saying it. You make it entertaining and you still care for to keep it sensible.
I can’t wait to learn far more from you. That is really a great site.
An outstanding share! I have just forwarded
this onto a friend who has been conducting a little research on this.
And he actually ordered me lunch due to the fact that
I found it for him… lol. So allow me to reword this….
Thanks for the meal!! But yeah, thanks for spending the time to discuss
this issue here on your site.
Thanks for every other informative website. The place else may
I get that type of information written in such an ideal
approach? I have a undertaking that I’m just now running on,
and I have been at the glance out for such info.
Nice post. I was checking continuously this blog and
I’m impressed! Very helpful information specially the last part :
) I care for such info much. I was seeking this
certain info for a very long time. Thank you and good luck.
Just want to say your article is as astonishing.
The clarity for your publish is just excellent and that i could assume
you’re a professional on this subject. Fine with your
permission let me to grasp your RSS feed to keep updated with drawing close post.
Thank you a million and please keep up the gratifying work.
I have been exploring for a little for any high-quality articles or weblog posts in this sort of area .
Exploring in Yahoo I finally stumbled upon this
website. Reading this info So i’m satisfied to exhibit that I have a
very good uncanny feeling I came upon exactly what I needed.
I so much indisputably will make sure to don?t overlook
this website and provides it a look regularly.
Hi there to every body, it’s my first visit of this webpage; this webpage contains remarkable and genuinely fine information designed for visitors.
Howdy are using WordPress for your site platform?
I’m new to the blog world but I’m trying to get started and create my
own. Do you require any coding knowledge to make your own blog?
Any help would be greatly appreciated!
Hi there, I think your web site might be having browser compatibility problems.
When I look at your web site in Safari, it looks fine however, when opening in IE, it has some overlapping
issues. I simply wanted to provide you with a quick heads up!
Other than that, excellent site!
Hi there! This is my 1st comment here so I
just wanted to give a quick shout out and tell
you I truly enjoy reading through your posts. Can you recommend
any other blogs/websites/forums that go over the same topics?
Many thanks!
Fastidious replies in return of this issue with solid arguments and explaining the whole thing
about that.
This paragraph provides clear idea designed for the new viewers
of blogging, that actually how to do blogging and site-building.
I’m not sure exactly why but this web site is loading extremely slow for me.
Is anyone else having this issue or is it a issue on my end?
I’ll check back later and see if the problem
still exists.
Hello, its good piece of writing concerning media print, we all
know media is a enormous source of data.
Everything is very open with a really clear explanation of the challenges.
It was really informative. Your site is very useful.
Thanks for sharing!
We’re a group of volunteers and starting a new scheme in our community.
Your site provided us with valuable information to work on. You’ve done
a formidable job and our whole community will be thankful to you.
I have read so many articles regarding the blogger lovers however this post is
genuinely a nice article, keep it up.
Can I simply just say what a relief to find an individual who actually understands what they’re discussing on the web.
You certainly understand how to bring an issue to light
and make it important. More and more people should
check this out and understand this side of your story.
It’s surprising you are not more popular since you definitely possess the gift.
Yes! Finally someone writes about website.
I want to to thank you for this great read!! I certainly loved every little bit of it.
I’ve got you book marked to look at new stuff you post…
always i used to read smaller articles or reviews which also
clear their motive, and that is also happening with this piece of writing which I am reading here.
Hi! I know this is kind of off topic but I was wondering if you knew where
I could get a captcha plugin for my comment form?
I’m using the same blog platform as yours and I’m having trouble finding one?
Thanks a lot!
I appreciate, cause I discovered exactly what I used to be having a look for.
You have ended my four day lengthy hunt! God Bless you man. Have a nice day.
Bye
What i don’t realize is in truth how you are now not really a lot more smartly-preferred than you might be now.
You’re so intelligent. You know therefore significantly with regards to this subject, made
me personally consider it from so many numerous angles.
Its like men and women aren’t fascinated until it’s one thing to accomplish with Girl gaga!
Your own stuffs nice. At all times deal with it up!
Just wish to say your article is as amazing. The clearness on your
put up is simply great and that i could think you are an expert in this subject.
Fine along with your permission allow me to clutch your RSS feed to stay updated
with coming near near post. Thank you a million and please keep up the gratifying work.
Have you ever thought about including a little bit more
than just your articles? I mean, what you say is fundamental and all.
But just imagine if you added some great images or video clips to give your posts more, “pop”!
Your content is excellent but with images and
clips, this website could definitely be one of the best in its niche.
Great blog!
bookmarked!!, I like your site!
Excellent items from you, man. I’ve take note your
stuff prior to and you are simply extremely magnificent.
I really like what you have bought right here, really like what you are stating
and the way wherein you are saying it. You’re making it enjoyable and you continue to care for to stay it sensible.
I cant wait to read much more from you. That is really a tremendous website.
Heya i am for the primary time here. I found this board and I find It really useful & it helped me out a lot.
I am hoping to offer something again and aid others such as you
aided me.
What’s up friends, its wonderful paragraph about cultureand
fully defined, keep it up all the time.
Nice response in return of this issue with firm arguments and describing everything
concerning that.
I don’t even know how I ended up here, but I thought this post was good.
I do not know who you are but certainly you are going to a famous blogger if you are not already 😉 Cheers!
This page certainly has all the information and facts I
needed concerning this subject and didn’t know who to ask.
Thanks for sharing your thoughts about slot deposit shopeepay.
Regards
Heya! I understand this is kind of off-topic however I needed to ask.
Does operating a well-established website like yours require a lot of work?
I am completely new to writing a blog but I do write in my journal everyday.
I’d like to start a blog so I can share my experience and feelings online.
Please let me know if you have any kind of suggestions or tips for new aspiring bloggers.
Thankyou!
Very shortly this web site will be famous among all blogging and site-building visitors, due to it’s fastidious
articles or reviews
I am curious to find out what blog system you have been utilizing?
I’m having some minor security issues with my
latest website and I would like to find something more risk-free.
Do you have any solutions?
Oh my goodness! Impressive article dude! Many thanks,
However I am having difficulties with your RSS.
I don’t know the reason why I am unable to join it. Is there anybody else
getting similar RSS issues? Anyone that knows the solution can you kindly
respond? Thanx!!
I know this if off topic but I’m looking into starting my own weblog and was curious what all is needed to get setup?
I’m assuming having a blog like yours would cost a pretty penny?
I’m not very web savvy so I’m not 100% sure. Any recommendations or
advice would be greatly appreciated. Many thanks
Great website. A lot of helpful information here.
I’m sending it to several pals ans additionally sharing in delicious.
And naturally, thank you on your sweat!
Post writing is also a excitement, if you know afterward you can write if not it is difficult to write.
Ahaa, its good discussion on the topic of this paragraph here at this website, I have read all that, so at this time me also commenting here.
Howdy! Do you know if they make any plugins to protect against hackers?
I’m kinda paranoid about losing everything I’ve worked hard on. Any recommendations?
Ahaa, its good dialogue on the topic of this article at
this place at this webpage, I have read all that, so now me also commenting here.
Have you ever thought about publishing an e-book
or guest authoring on other sites? I have a blog centered on the same ideas
you discuss and would really like to have you share some stories/information. I know my viewers would appreciate your work.
If you are even remotely interested, feel free to
shoot me an e-mail.
Hi there, just became alert to your blog through Google,
and found that it is really informative. I’m going to watch out
for brussels. I’ll appreciate if you continue this
in future. Numerous people will be benefited from your writing.
Cheers!
I don’t know if it’s just me or if everybody else experiencing issues with your website.
It looks like some of the written text within your posts are running off the
screen. Can someone else please comment and let me know if this is happening to them as
well? This might be a issue with my browser because I’ve had this happen before.
Appreciate it
What’s up every one, here every person is sharing these familiarity, therefore it’s nice to read this blog, and I used to go to see this web
site every day.
Your style is really unique compared to other folks I have read stuff from.
Thanks for posting when you have the opportunity, Guess I will just bookmark
this site.
I pay a visit everyday some web sites and blogs
to read articles or reviews, but this blog provides feature based content.
I’m not that much of a online reader to be honest but your blogs really nice, keep it up!
I’ll go ahead and bookmark your website to come back down the road.
All the best
It’s fantastic that you are getting ideas from this piece of writing as well as from our discussion made at this place.
It’s hard to come by educated people on this subject, however, you seem like you know
what you’re talking about! Thanks
Hi, I think your website might be having browser compatibility issues.
When I look at your website in Safari, it looks fine but
when opening in Internet Explorer, it has some overlapping.
I just wanted to give you a quick heads up!
Other then that, excellent blog!
This is my first time pay a visit at here and i am actually impressed to read everthing at one
place.
Very soon this site will be famous amid all blog viewers, due to it’s pleasant
posts
Hello there, I do believe your web site may be having browser
compatibility problems. When I take a look at your blog in Safari, it looks fine but when opening
in IE, it’s got some overlapping issues. I merely wanted to give
you a quick heads up! Apart from that, great website!
I do not know whether it’s just me or if perhaps everybody else experiencing problems with your blog.
It looks like some of the text on your content are running off the screen. Can someone
else please comment and let me know if this is happening to them as well?
This could be a issue with my internet browser because I’ve had this
happen before. Thanks
Thanks for finally writing about > Tezos Price Prediction:
XTZ Price Is Up 30% To $5.45 – Buy Now – The Cryptonium
– Cryptocurrency & Bitcoin – Rates & News < Liked it!
Terrific work! That is the kind of information that should be shared across the internet.
Shame on Google for not positioning this submit upper!
Come on over and seek advice from my web site . Thank you =)
Great beat ! I wish to apprentice while you amend your site, how
could i subscribe for a blog site? The account helped me a acceptable deal.
I had been tiny bit acquainted of this your broadcast offered bright clear idea
Very rapidly this website will be famous amid all blogging people, due to it’s pleasant articles
Ridiculous story there. What happened after?
Good luck!
My coder is trying to persuade me to move to .net from PHP.
I have always disliked the idea because of the expenses.
But he’s tryiong none the less. I’ve been using Movable-type on numerous websites for about a year and am worried about switching to
another platform. I have heard great things about blogengine.net.
Is there a way I can import all my wordpress posts into it?
Any kind of help would be greatly appreciated!
Hi, Neat post. There’s a problem together with
your site in internet explorer, would test this? IE still
is the market chief and a big section of other folks will miss your wonderful
writing because of this problem.
Oh my goodness! Incredible article dude! Thank you,
However I am going through difficulties with your
RSS. I don’t know the reason why I am unable to subscribe to it.
Is there anybody getting identical RSS issues?
Anyone that knows the solution can you kindly respond?
Thanks!!
Link exchange is nothing else except it is just placing the
other person’s blog link on your page at proper place and other person will also do
similar in support of you.
Great blog! Is your theme custom made or did
you download it from somewhere? A theme like yours with a few simple
tweeks would really make my blog shine. Please let me know
where you got your design. With thanks
Very good blog you have here but I was wondering if you knew
of any forums that cover the same topics discussed here?
I’d really love to be a part of group where I can get feedback from other knowledgeable individuals that share the same interest.
If you have any suggestions, please let me know.
Thank you!
Thanks for a marvelous posting! I seriously enjoyed reading it, you may be a great
author.I will remember to bookmark your blog and may
come back down the road. I want to encourage one to continue your great writing, have a nice holiday
weekend!
I don’t know if it’s just me or if everybody else encountering issues
with your blog. It appears as if some of the text in your posts are running off the screen. Can somebody
else please provide feedback and let me know if this is happening to them as well?
This may be a issue with my browser because I’ve had this happen previously.
Cheers