Tezos hit $3.05 (XTZ/USD) on Sunday and held onto it through much of Monday. It is back down to $2.8, though, and holding steady. That’s a rate it has not been able to achieve since July 13th, so we are definitely seeing a bullish trend at the moment for this crypto.
How long it will hold onto that is hard to say, as Tezos isn’t behaving like most of the other cryptocurrencies. Sunday was its third time this month above the $3.00 resistance level, and the crypto isn’t trending too far from where it was throughout June. On June 7th, Tezos briefly tested the $4 resistance and it is not impossible to think that it can get back there again in the next few weeks.
New Grant Program Has Little Effect on XTZ/USD Price
On July 27th, Tezos announced a new grants program for its ecosystem. This program is designed to support builders and creators within the Tezos community. The program is available to anyone in the world, and they will be issued out of the regional ecosystem hubs.
These programs are meant to improve the ecosystem by bringing in development talent. They are also designed to boost block chain use.
The requirements for receiving a grant will vary from one location to another. Those who receive grants can apply for additional ones as well. Tesla has seen lot of growth this year, but this announcement hasn’t moved the needle on the XTZ/USD price at all. It could have some impact in the near future, but this isn’t the kind of announcement would expect to do very much for the price cryptocurrency.
Tezos’ trade volume is down 37% over the last 24 hours. This digital coin is struggling in its #44 position among cryptocurrencies, and it’s going to need quite a push to reach any kind of mainstream penetration.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals