Tezos (XTZ): Price updates, developments, community and events
- Tezos is in a league of its own, with flexibility and development at the heart of the project.
- The original and enterprise-grade features the project offers have resulted in high profile partnerships and impressive price moves.
- Partnerships with McLaren and USDC are among the latest developments for the network to tickle the community.
- Valued at $ 2.81, Tezos is the 40th largest coin in terms of market cap with an impressive market cap of over $ 2.3 billion.
The Tezos blockchain stands out from the crowd with its focus on security, community governance and energy efficiency. It achieves institutional security through the use of Michelson, and the use of the proof-of-stake consensus ensures energy efficiency.
With this in mind, Tezos has forged enviable partnerships with top brands eager to build on the blockchain. Center, the organization behind USDC, has announced that its stablecoin will be spent on the blockchain, while McLaren will build an NFT fan platform with Tezos.
The Tezos community has reason to cheer after integrating with Gitcoin. Gitcoin, a community that specializes in developing digital public goods, announced plans to integrate with Tezos on July 8th.
After the integration, both parties launched the Tezos Hackathon series, which focuses on NFTs and DAOs.
The first hackathon is to take place on Gitcoin and is entitled “NFT Me, You Can DAO It”. The prizes for the hackathon are on the order of $ 75,000 divided among 10 winning entries.
The network recently celebrated its third anniversary in commemoration of the Genesis Block launched in 2018. The community enjoyed the event by remembering the milestones of the project. In three years, Tezos has hit over 1.5 million blocks, over 55 million transactions, and over 1.3 million funded accounts while keeping gas charges below $ 1.
Tezos’ achievements have attracted a lot of interest from brands looking to form partnerships within blockchains. Most notable is McLaren Racing’s propensity to enter into a technical partnership with Tezos with the intent of creating an NFT for its fan base.
The partnership promotes the Tezos brand on the McLaren team’s cars and outfits. Lindsey Eckhouse, Director of Licensing, commented that the creation of a
“The fan-centric NFT platform is an innovative step in an exciting and rapidly evolving industry.” Circle, the organization behind the USDC stablecoin, has announced that the stablecoin will now be issued on the Tezos blockchain.
This partnership sees the merging of one of the best digital dollar stablecoins and the revolutionary Tezos blockchain. The official launch of the issue is planned for the coming months and leaves the community in great anticipation.
On the downside
- Tezos is down over 66.50% from its previous all-time high of $ 8.40 and is trading at $ 2.82 at the time of writing.
- This slump reflects the decline in the overall cryptocurrency market, with market cap falling from previous highs of over $ 2 trillion to lows of around $ 1.37 trillion.
The Tezos community
Tezos’ community is growing rapidly thanks to its flexibility and innovative approach to blockchain problems. The project has 124,000 followers on Twitter and over 1.3 million accounts.
In terms of prices, Tezos hit an all-time high of $ 8.40 in May but is currently trading at $ 2.81. With juicy partnerships and announcements on the horizon, analysts are confident that prices will rise.
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