In the last 1-year, cryptographic project Tezos using Proof-of-Stake model has added more than 480% to its value, about 400% more than Bitcoin, as the leading cryptocurrency surged by only 170%.
Similarly in the last 30 days, Tezos gained more than 4x of what Bitcoin added. While Tezos (XTZ) cryptocurrency made over 60% gain, the market determining crypto BTC spiked by 17% against the US dollar.
Hence, Florida-based leading provider of unbiased, independent and trusted crypto rating cryptocurrency, Weiss Rating, said Tezos, among a number of top-performing altcoins in the market, would continue to outpace Bitcoin price for the year 2020.
“Tezos (XTZ) is among the leading altcoins which continue to outperform Bitcoin price action in 2020. Tezos market cap has risen to $1.56 billion and it is close to flipping its positioning with Cardano (ADA) to rank among the top-10 cryptocurrencies by market capitalization”, Weiss stated.
Also, since the start of this year, the market cap of Tezos crypto has risen by not less than $600 million dollars. In early January, Tezos had a market cap of around $900 million, and now, its market cap has risen to $1.56 billion, a value close to flipping TRON and Cardano from the 11th and 10th position to be ranked among the 10 most important coins in the market.
In spite of the huge influx, Bitcoin saw this year due to the positive growth experienced, Tezos is still ahead of the leading cryptocurrency in terms of trading volume.
Within 30 days, Tezos (XTZ) cryptocurrency has seen over 60% growth in its trading volume while Bitcoin presented less than 20%.
As displayed in the chart below, XTZ/BTC price trend (yellow line) has greatly outpaced that of XTZ/USD pair (green line), an indication that Tezos has made more progress than Bitcoin this year.
Tezos (XTZ) Intraday Price Analysis
At press time, a unit of Tezos (XTZ) crypto is priced $2.19 USD against the US Dollar with less than 1% value rise in the last 24 hours.
Tezos has been on a slow but steady rise since the start of January 2020, breaking a number of resistances on several occasion.
After breaking the $2.0 price resistance to reach $2.2, the $2.5 price remains the next resistance for the cryptocurrency, and this is possible in the next few days if the upward trend remains strong.