In most markets, tripling in just over four months would be a respectable performance. But with other cryptocurrencies like Dogecoin, Polygon and even Pirate Chain going parabolic, self-governing blockchain Tezos‘ 2021 performance can only be regarded as a bit of a disappointment.
Could that be about to change?
Respected Dutch cryptocurrency trader Michaël van de Poppe is among those who see the No. 34 cryptocurrency ready to make a move.
This afternoon Tezzies were changing hands at US$6.01, up 5.3 per cent from yesterday.
Aside from bullish price action, backers say a number of projects are materialising on the Tezos blockchain, adding value to the project, whose main claim to fame is its self-amending nature. Tezos holders vote on upgrades to the protocol, avoiding the need for contentious “hard forks”.
An NFT marketplace called Hic et Nunc launched on Tezos two months ago, a Uniswap-like decentralised exchange called QuipuSwap is in beta testing and Bender Labs last week unveiled its “wrap protocol,” a decentralised bridge between Ethereum and Tezos that allows for token swaps between the networks.
That said, not everyone is convinced.