Tezos (XTZ) posted a price increase, touching a daily high of $ 5.7 yesterday after slipping to $ 3.25 on December 4, 2021.
This observation found that XTZ jumped over 78% for a period of four days alone.
What drove the XTZ price spike?
Investors may be interested to know what invites positive XTZ movements. Here are the details:
Collaboration from Ubisoft
Video game company, Ubisoft has launched a unique non-fungible token (NFT) platform-Ubisoft Quartz.
The platform is built on blockchain
Launched NFT - Digits, can be used in Ubisoft video games.
Ubisoft Quartz beta version launched on December 9, open to players of Tom Clancy’s Ghost Recon: Breakpoint.
Environmental sustainability
The protocol wants to create an environmentally friendly and more sustainable blockchain network.
Opt to implement a Proof-of-Stake (PoS) consensus mechanism.
Increased number of transactions and revenue
The network saw a surge in transaction volumes and protocol profits throughout 2021.
December 3 - The number of transactions in Tezos rises to a record high, $ 369 million.
This surge factor is believed to stem from the Hangzhou update solution.
This is the 8th update for the Rezos network
Focuses on the ability of the network to be modified and upgraded automatically without the need for a hard fork.
At the time of writing, the XTZ is trading at $ 5.6, down nearly 1% in 24 hours. Since hitting an all -time high (ATH), $ 9.18 on Oct. 4, XTZ needs a jump of over 39% to redeem the downtrend over the past two months.
