The crypto market since the year began has been somewhat excited about Bitcoin’s performance. So far, the king coin has already returned 40% gains in 2020 alone. It has also set a 2020 high of $9,745 and is well on its way to $10,000. However, even with all of these accolades, Tezos (XTZ) seems to have surpassed the world’s number one coin.
Tezos is not the only altcoin that has performed better than Bitcoin but it’s easily the most noteworthy. Back in October 2018, XTZ was trading somewhere around $0.73. Today, its current value at $2.20 is a surge of more than 200%.
To highlight XTZ’s price performance, on the 2nd of January, it traded at $1.25. Since then, it has climbed more than 80% and is still trading in green.
Furthermore, it maintained amazing strength in the market as there is still a commendable level of funds being pumped into the network.
It’s predicted, however, that XTZ could retrace to $2.011, fulfilling its 23.6% Fibonacci Retracement. Analysts also say that this retracement puts the token at levels where history suggests there is known support.
In November last year, Coinbase announced that it will allow members of the XTZ community to begin staking. In reaction, Tezos jumped 50% from $0.90 to $1.40.
Image Credits: Pixabay
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