Should I buy Tezos tokens ($XTZ)?
What is Tezos?
The history of Tezos dates back to 2014, when Arthur Breitman wrote the white paper. According to Breitman, Tezos was designed specifically to fix the deficiencies of Bitcoin and Ethereum. It also seeks to create a system that includes users in its governance. In its design it was proposed that the token holders participate in the future updates and development of the project.
Tezos is an open-source platform for assets and applications that can evolve by upgrading itself. It has been designed with a great long-term upgradability, open participation, collaboration, and smart contract safety.
Stakeholders can actively participate by evaluating, proposing, or approving amendments to Tezos. This design empowers the type of collaborative innovation that keeps Tezos on the bleeding edge of technology.
The Tezos ecosystem is not as extensive as Ethereum, Cardano or Binance, but its community is constantly working to strengthen and develop the network by providing more tools to its ecosystem. It is currently used for projects like baking, DeFi, blockchain games, and NFTs.
Some of the main attractions of this ecosystem are its energy efficient algorithm, it is powerfully scalable, it is one of the leading smart contracts Proof of Stake blockchains, and the governance by the people.
Latest Stats & Facts
The current supply of Tezos, at the time of writing, is 904,014,956 $XTZ, where 96.88% corresponds to circulating supply and almost 73.88% is in active staking. During the recent year, the price has fluctuated within the range of 5.3072-2.5906 USD.
The Tezos token ($XTZ) is within the top 50 of criptocurrencies by market capitalization. The market capitalization, at the moment of redaction, is nearly to $2,689,308,768.00 USD, with a value per token of $2.97USD.
$XTZ is available almost on every major exchanges ( Coinbase, Binance, Cripto.com, etc.)
The Tezos network is experiencing rapid growth through global adoption. Below are some of the statistics that illustrate the continued level of activity and participation in the network by users.
Many leading brands and companies around the world are choosing the Tezos ecosystem as their preferred blockchain. Below are just a few of the many brands developing some projects on Tezos:
Personal Conclusion
It is impossible to predict what will happen with 100% certainty. It is difficult enough to make predictions based on what we think will happen, even more so considering unpredictable world events that can affect market prices, such as what happened in March 2020 when the markets succumbed amid the appearance of the COVID pandemic. -19.
However, Tezos is doing well. It is gaining momentum at the right time and its popularity is growing slowly but steadily. Tezos has a wide variety of features that can help It stand out from the crowd and let us think It will be successful in the long run. I think it's a great addition to your crypto portfolio.
What if...?
Today $XTZ is in the 46th position in the ranking by market capitalization. If the Ecosystem manages to successfully consolidate its projects and manages to capture the attention of a greater number of investors and developers, it would not be unreasonable to think that a great boost could catapult it to the Top 20 or even the Top 10 of the cryptocurrency ranking by capitalization, which in one case, it could increase its value up to 10 times, bringing the value of each token close to $30 USD.
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Disclaimer: This is not financial advice, so I recommend you to do your own research before making any decision