Tezos (XTZ) prices skyrocketed last week after announcing the upcoming mainnet launch. The price of the cryptocurrency moved from $1.29 to $1.74 dollars in just a few hours. Its price in measured in BTC has also grown up to 0.00026667 BTC per XTZ.
The mainnet launched on Monday, September 17th. XTZ prices have dropped since then, mirroring the market. Currently, coins are trading for $1.44.
Tezos Price Jumps After Mainnet Announcement
The price of this cryptocurrency has grown 34% between September 14 and 15. On Monday, the protocol became a full main net after months in beta period. The beta network was announced back in June as an ‘inflection point’ for the company.
This project has been involved in several conflicts and issues that delayed the launching of their main net. And because of this situation, the expectations for what the project is planning are very high. However, Tezos will have to show how viable the project really is in the real world after switching to its main net.
Some users on Twitter are already showing how excited they are about the future of the project. Most of them are doing price projections about XTZ’s price.
Tezos launched an Initial Coin Offering (ICO) back in July 2017 raising over 66,000 BTC and 361,000 ETH. However, the company claimed that the funds have been donated and were not a speculative investment.
Moreover, the company has also experienced some clashes between Arthur and Kathleen Breitman, co-founders of Tezos, and Johann Gevers, in charge of the funds. Because of this situation, the development of the platform got delayed. Additionally, the company received several lawsuits because of this issue.
At the moment of writing, Tezos is the 17th most important virtual currency in the market. It is being traded for $1.44 dollars and has a market capitalization of $873 million dollars. In the last 24 hours, the cryptocurrency is one of the top losers operating 9.3% down.
At the beginning of the current year, this virtual currency was traded between $2.5 and $5.5 dollars. At the beginning of July, the cryptocurrency was listed in CoinMarketCap.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
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