What is XTZ crypto? Why is it rising and how to buy it?

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What is XTZ crypto? Why is it rising and how to buy it?

 What is XTZ crypto? Why is it rising and how to buy it?
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Highlights

  • Tezos (XTZ) coin is rallying on Monday ahead of the NFT launch by singer Mike Shinoda of the Linkin Park music band on December 3, 2021.
  • Tezos (XTZ) coin is rallying on Monday ahead of the NFT launch by singer Mike Shinoda of the Linkin Park music band on December 3, 2021.
  • Tezos (XTZ) coin is rallying on Monday ahead of the NFT launch by singer Mike Shinoda of the Linkin Park music band on December 3, 2021.
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Why is XTZ rising?

It has been an active month for Tezos (XTZ) after hitting a record high in October. After a brief uncertainty, its marketplace HEN is on track to gain the status of Decentralized Autonomous Organization or DAO.

What is XTZ crypto? Why is it rising and how to buy it?

In addition, American singer, songwriter, producer, and member of the Linkin Park music band Mike Shinoda's plan to launch a generative 5000 set NFT series, titled Zigguarats, on XTZ on Thursday, Dec 3, has further inspired the investors. The NFT art or the solo music project is expected to release on the Tezos blockchain and streaming services.

The coin jumped more than 114% over the past year. It hit an all-time high of US$9.12 on Oct 4, 2021. Its all-time lowest price is US$0.350476, recorded on Dec 7, 2018.

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What is Tezos (XTZ)

Tezos is a blockchain network based on smart contracts. It considers itself more advanced than the Ethereum network.

Tezos offers advanced infrastructure development support without the effect of a hard fork.

Thus, Tezos holders can vote on developers’ protocol upgradation and accept or deny the proposals. The Tezos blockchain owns the XTZ coin.

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 (XTZ crypto: Why is it up on Monday?)

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Performance

The coin was up 12.59% to US$5.01 at 9:26 am ET on Monday.

Its 24-hour trading volume was US$196 million.

The XTZ coin has a market capitalization of US$4.35 billion, with a current circulating supply of 868.69 million and the total supply of 897.46.

Tezos is considered “futureproof” because of its ability to secure upgradation. The company released a technology white paper in 2014, followed by a mainnet four years later.

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Founder Arthur Breitman, who wrote the white paper, argued that the new technology addresses Bitcoin’s governance process shortcomings.

Breitman and his wife, Kathleen, founded Dynamic Ledger Solutions to write the Tezos protocol. The Tezos Foundation later purchased the company.

Tezos is ranked 44th among other cryptos on coinmarketcap.com. The coin can be traded on Binance, OKEx, Huobi Global, FTX, and Mandala exchange.

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Bottomline

Last Friday, the Tezos price fell in line with the overall decline in the global crypto market. But on Monday, it bounced back strongly along with other cryptos. Since the crypto market is often volatile, investors must exercise due diligence before investing in crypto assets.

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