Tezos Price Runs Above $1 XTZ/USD For the First Time In A Long Time, Can It Go Higher?
Some people are calling 2019 the new altcoin season. Prices which just keep increasing can prove them right. Tezos (XTZ) is currently rallying over $1 USD. The asset went as far as $1,19 USD, but it is dropping now and it currently stands at $1.07 USD at the time of this report.
This makes the asset grow in basically record levels, which can be very good for its price in the long run. The volumes are around $9 million USD, which leaves some space for growth.
Tezos is simply not a very popular asset and its network is still focused on future growth, so this can jumpstart some prosperity for this system in the long term.
It is also a very important point that the price increase happened without any major announcement or milestone at all. XTZ is currently very undervalued, so the community believes that there is plenty of space for future growth at the moment.
Obviously, there is some crazy euphoria as well. Some people believe that the asset can regain values of over $4 USD in the short term, which would simply be impossible without a very strong bull run and not even Bitcoin is doing that well at the moment.
The Tezos Network Is Not Very Busy Right Now
Another point that should be taken into account is that the network is kind of dead right now, despite the price increases. Tezos has lagged behind Tron, EOS and Ethereum a lot. Most of its activity is centered in simple trading of tokens.
The asset saw its prices going up over 30%, but they are going down right now. Before the small bull run started, the prices of the token remained around $0.95 USD for some time.
At the moment, most of the tokens are being traded on the Kraken crypto exchange. The company is still not listed on Binance or Coinbase at the moment, too, which are some of the most respected trading markets.
Another important aspect to sustain the fast growth of the community would be to make the whole system more active. At the moment, the asset is currently receiving only less than two thousand transactions per day, which is not a lot. Unless the situation changes, the $4 USD price will be only a distant dream that only the most fervorous Tezos evangelists will believe.