The past year for cryptocurrency has been pretty negative. The year prior to what had been even more negative, with many cryptocurrencies across the market losing huge chunks of value. This has seen an entire community of investors out of pocket. Now though, over the past few months we have finally started to see huge amounts of value pumped back into the market. Not only is this pleasing investors, it’s helping us as analysts see some real contenders to Bitcoin. As it stands, the markets are dominated by the world’s first cryptocurrency. As time goes on however, Bitcoin’s dominance weakens. When we look at the uprise of cryptocurrencies like Tezos, the reasons for this become a little more clear.
Over the past year, Tezos is actually up over 200%, meaning those who bought in a year ago should be seeing some great returns on their investments. Is Tezos the next cryptocurrency to take the top spot?
According to Forbes, the recent success of Tezos is down to a number of years of successful wins and hard work by the Tezos team, not forgetting to mention that Tezos is also built on a very powerful blockchain:
“The latest positive developments for tezos follows a number of high profile wins for the smart contract and security token focused blockchain, which supports the XTZ cryptocurrency, following its rocky but successful 2017 fundraising initial coin offering (ICO).”
Yoni Assia, the co-founder of eToro is equally positive about Tezos as a blockchain project and as a cryptocurrency, stating that:
“As we see financial institutions move more into the world of crypto, it is important that ordinary investors can take advantage of these technological developments,