Tezos (XTZ) continued to perform well despite the market facing price correction difficulties.
At the time of writing, the XTZ posted a 7% increase in 24 hours with a current value of $ 8.69.
Indirectly the asset has recorded a year -over -year (YOY) increase of 1,002.95% and 75% in the 30 days since a record $ 5.2 on Sept. 4 before touching an all -time high (ATH), $ 9.18 early this morning.
The factors that can be seen in this positive movement can be detailed to:
Improvements and staking
The latest improvements occurred in August 2021, involving a reduction in block duration and gas consumption.
Records as of September 26, 2021 show a total of 76.16% of the total XTZ supply has been stake in the Tezos network.
Both of these factors have invited new investor interest to this network and at the same time, staking has led to an increasingly limited number of tokens in the market, thus leading to a spike in the price of XTZ.
Tezos still has room to grow. Since this network is a layer-2 blockchain developed in Ethereum, it is not impossible that Tezos will use smart contracts and develop dApps.
Tezos currently owns the smart contract language code, Michelson and reportedly 135 projects and dApps are being worked on on this network.
