The price of Tezos (XTZ) has increased by over 30% over the last week, which is more than any other coin among the leading altcoins. As a result, XTZ is currently in the top ten cryptocurrencies in terms of market capitalization.
Tezos is gaining popularity
The current price of Tezos (XTZ) amounts to $ 1.69. The coin's value increased by 10.8% in the last 24 hours and as much as 31.6% in the last week - the most of all leading altcoins. The XTZ's rate increases in spite of the prolonged market bleeding and of the decrease (below USD 200 billion) in its capitalization. The rally made it possible for Tezos to enter the top ten cryptocurrencies in terms of the market capitalization (according to CoinMarketCap).
As a consequence, Tezos drove the Stellar token (XLM) out from the Top 10 CoinMarketCap. According to market observers, regardless of the efforts to limit the supply of coins, a drop in price suggests that Stellar is out of fashion. On the other hand, XTZ is gaining traders' interest and comes to light despite slow start and delayed launch.
At the moment, XTZ is the only cryptocurrency among the top 15 that has not noted a lost in the last 24 hours. What is more, it is one of two cryptocurrencies - together with XRP - whose price has increased over the past week. And although the bear market, currently prevailing on the cryptocurrency market, may end this rally, so far Tezos is one of the few coins whose exchange rate has been successively growing for many weeks, ensuring high profits.
XTZ resistant to bear market
It is worth noting that Tezos was one of the few coins that held their positions under the pressure of bears. On the other hand, after the initial bull market on the cryptocurrency market (which took place at the end of October), almost the entire market dived down. The majority of cryptocurrencies has still not recovered from this defeat. Bitcoin (BTC), which is the largest and the oldest of cryptocurrencies, has fallen by more than 27% since October. Meanwhile, Tezos recorded an increase of almost 122%, from USD 0.76 to USD 1.69.