Hello. You are on the Crypto Pulse channel.
Subscribe to the channel and listen. Tezos (XTZ) is up 17% in the last 24
hours. A single XTZ token is now worth almost $ 4 and the blockchain market cap
is $ 3.4 billion. Tezos started rallying at about 6:40 pm
last night, when it started rallying from about $ 3.3. Since then, it has
rallied, peaking at $ 4.12. According to CoinGecko, daily trading volume
more than tripled over the same period, from $ 108 million to $ 322 million.
Tezos' latest rally was the first since early May, when XTZ peaked at around $ 8.27.
Tezos was launched in 2018 as one of the first bet confirmation coins.
Proof-of-Stake coins are mined by people who stake a lot of coins. This is in
contrast to proof of work, in which miners run power
-hungry software to process transactions. Proof-of-work lost popularity last
month after Elon Musk, Tesla CEO and former Bitcoin bull, criticized
Bitcoin for using this mining mechanism. Musk, one of the richest men in the world, has pledged to support energy efficient
projects. While he didn't mention Tezos, blockchain doesn't carry the baggage
that its proof-of-work competitors have. Since Tezos does not rely on resource-intensive
mining, it will also not be affected by the crackdown on mining that is expected to
start from China.
The government brought down the price of bitcoin when a state committee
added bitcoin mining and trading to a detailed list of dirty
industries it intends to track. NFT also thrived on Tezos last month
, offering lower transaction fees and faster verification times
than Ethereum. In May, the Tezos-based NFT project surpassed volume on OpenSea, the popular
Ethereum NFT marketplace. “Tezos is home to the largest
and fastest growing NFT community and the fastest growing DeFi ecosystem:.