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Highlights
- Tezos has gained over 30 per cent in the past 24 hours after popular rap artist Doja Cat launched her Genesis NFT collection built on its blockchain protocol.
- The next launch of the NFT collection is expected to be later today.
- Tezos is a blockchain protocol for smart contract, similar to Ethereum
Following Bitcoin’s flash crash and partial recovery on Thursday, altcoins have come into focus as crypto enthusiasts’ scramble to identify the next big crypto opportunity.
One such altcoin which has been gaining momentum in the past week is Tezos (ticker symbol-XTZ), which has risen by over 50 percent in the past 7 days.
What is Tezos (XTZ)?
Tezos is a blockchain protocol for smart contracts, similar to Ethereum. However, XTZ has a more advanced infrastructure that is unlikely to face a hard fork as Bitcoin or Ethereum has in the past.
The coin has gained after popular American rap artist Doja Cat launched a Genesis NFT collection called Planet Doja on Thursday. The NFT collection is on One Of, a green NFT platform, which has been built on the XTZ blockchain protocol.
Doja Cat’s next NFT launch from this collection is set to be unveiled today. The NFT is targeted at rap music fans and artists.
Owners of these NFTs will have access to concert tickets and other features.
Tezos (XTZ) price performance
Tezos, whose governance token is XTZ, was trading at US$ 6.06, up by 30.50 per cent in the past 24 hours as of 10 September 2021 at 06:08 AM GMT+1.
XTZ’s market cap is US$ 5.286 billion, and its total volume is US$ 1.746 billion, up by 425.11 per cent in the past 24 hours.
XTZ’s return on income (ROI), from its earliest known price (or launch date price), is 1,186.04 per cent.
It is currently ranked number 31 and has a market dominance of 0.24 per cent across all cryptocurrencies on the crypto data site, CoinMarketCap.
Tezos (XTZ) price prediction
XTZ has a one-year price forecast of US$ 6.845, and its 5-year forecast is at around US$ 12.614, according to the crypto website Wallet Investor.
Another crypto data site, Digital Coin Price, predicts XTZ’s 2022 price to be at around US$ 10.31 and its 2026 price to be at US$ 21.48.
Conclusion
NFT’s are all the rage currently as more and more celebrities, artists, athletes and even major companies are increasingly looking to get in on the action.
XTZ is predicted to rise by at least 12.9 per cent by 2022, indicating investors have a positive sentiment regarding this coin’s growth potential in the mid to long term time horizon.
