Tezos
$0.67616 -16.23%
XTZ · 5w

Tezos News: XTZ Proves The Tezzie Bears Wrong

XTZ tokens have so far been the big winner with a batch of positive Tezos news over the past week. Starting at $1.22, the value of XTZ tokens – or ‘tezzies’ – grew throughout Monday to finish at $1.36. The rally has continued into Tuesday and tezzies were trading at $1.47 by press time as the bears retreated, licking their wounds.

Per token, this may seem incremental; but the Tezos market cap is up by more than a $100m. Why? 

Part of this has been a knee-jerk reaction by the market to the surprise news yesterday Kraken would list XTZ on its servers. Exchange users will be able to purchase XTZ for Bitcoin (BTC) or Ether (ETH), as well as the US dollar, Euro or Canadian dollar. Being listed on a well-known exchange is always a big boost for a project’s value; it acts as a sign of confidence that encourages greater demand and keeps existing holders from selling out.

It’s not just a new listing happening in the Tezos camp. The Tezos Foundation, the body responsible for managing the project’s funds, announced at the end of last week it was going to support the training of as many as 1,000 blockchain developers. Although the exact amount allocated has not been specified, the Foundation said they would invest in projects willing to draw-up training programs and provide learning resources to increase the number of programmers building on the XTZ blockchain.

Just under two weeks ago, the Foundation also announced it had issued grants for teams supporting mobile app development for the Tezos blockchain. The teams chosen include one creating a development kit for IOS devices, and another one geared towards Android devices. Another project has focused on improving secure key handling from a mobile device.

Tezos news was a lot bleaker in mid-winter

Tezos is a platform blockchain designed for decentralized applications, much like the Ethereum network. It relies on a unique form of Proof-of-Stake (PoS) that allows anyone to validate tran...

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