Tezos project is getting a lot of attention in the crypto world. That is because of its uniqueness and successfully showcasing the world as a pioneer of Proof of stake distributing rewards to stakers for securing the network. Let’s learn more about Tezos price prediction in this article but here’s a quick recap on the basics of Tezos.
Tezos blockchain network is linked to Tez or Tezzie that is its digital token. $XTZ is the ticker symbol for Tezos Coin. But unlike other crypto tokens, the users do not obtain it through mining. Instead, they are rewarded with this digital token if they take part in the proof-of-stake consensus mechanism.
Now, what is this Proof-of-Stake?
In the crypto world, the user can mine or validate different blockchain transactions if they hold more digital coins. Proof of Stake replaces the more conventional Proof of Work in the blockchain network to validate transactions. One reason why the Proof of Stake mechanism is better than the Proof of Work mechanism because there is less potential for the miners to create and execute an attack on the network.
Tezos went through a highly successful Initial Coin Offering (ICO), but then it went through a downhill of legal issues and other delays. But, just a few months back, they won the case against SEC for selling unregistered securities. In fact, this sets the precedence for other Crypto ICOs to win court battles. Check out this guide for all crypto news and analysis related to Tezos price prediction.
Who Created Tezos?
The original authors of the Tezos whitepaper were Arthur Breitman and Kathleen Breitman. That’s from where it started in September 2014, and it went onto raise $232 million in a fundraiser in 2017 to become one of the biggest Initial Coin Offering (ICO) in the crypto world.
XTZ Price Prediction – Tezos (XTZ) Historical Price Analysis
The coin underwent a very successful ICO launch, and it was to launch soon after that. But due to some legal issues in the United States based on some security concerns, it underwent a delay. But the Tezos Foundation got some of the best auditors in the country to resolve this.
The price of the token at the time of launching was $0.47. Initially, the deposits reduced, and the price did not see the expected growth. But soon after that, the prices steadily increased from a low of $0.4 to $1.08.
Tezos Price Prediction – Tezos (XTZ) in Numbers
Let’s put the numbers of Tezos into context to start with the Tezos Price Prediction. The price of XTZ at the time of writing, $3.3952 and has increased by 8% from the past day. The total market cap of Tezos is $2.58 billion. The market volume of Tezos in 24 hours is $443.07 million.
One can trade with Tezos on 82 exchanges. Some of the top crypto exchanges that trade Tezos are Binance, OKEx, and HBTC.
Over the past 24 hours at the time of writing, Tezos traded with 205 active markets and the volume trading pairs being BTC, USDT, and the USD.
Tezos Price Prediction Future
It is always interesting to see how cryptocurrencies will fare in the future. But no way provides the most accurate analysis, especially given the fact that cryptocurrencies are highly volatile. Traders and Tezos price prediction analysts make the use of well-defined mathematical algorithms to predict the price of cryptocurrencies both in the short term and long term. We can gauge the Tezos XTZ price prediction can provide good rewards in the future.
Tezos Short Term Price Prediction
According to short term analysis, Tezos will change once this year ends. The end of February might create a rally on Tezos price prediction, and the end of the year could see a price of around $4.82. It considers changes on a daily, weekly, and monthly basis. In 6 months, the price change will be 12.69%. In a year, the price change will be 85.39%.
If we consider long term predictions, the XTZ price predictions will be more than 1000%!
Tezos Price Prediction – Long Term
During September and October 2020, the XTZ price predictions went through a drop, the percentage of this drop is around 16%. At the time of writing, the price of Tezos is $2.40. It will recover at the start of 2021, and the cost improving to $3.025 by the end of the year. However, know that the predictions will vary depending on the algorithms and the institution creating this prediction.
According to another forecast by DigitalCoinPrice, the XTZ price predictions will have a price at the start of 2021 to a high in the starting months to around $6.5. But it also predicts the cost going to negative in the mid-year, close to $4.5. Although the model predicts the price to improve to around $5 until the end of the year, this volatility is disturbing for potential crypto investors. But if the investors are smart enough and if these predictions come correct, they can cash in by purchasing in the mid-year and selling by the end of the year.
Tezos Price Prediction in 2023
According to various models, the price predictions for Tezos in 2023 might reach an all-time high of $8.30 and a low of $1.90. It is also somewhere similar to the crypto predictions by TradingBeasts, and it considers the XTZ as a long-term investment in crypto coins. According to this prediction, if there is no major collapse in price, the price might reach around $9.03 in 2023.
Tezos Price Prediction in 2025
It is hard to predict the price of cryptocurrencies around five years from now because they are highly volatile. But there is general optimism for these cryptocurrencies to rise in their price, because of the growing interest among the masses. Barring any major negative event, the price of Tezos might reach an all-time high of close to $24 in 2025 and a low of $8.5. This is an increase of the current price by close to 900%.
According to DigitalCoinPrice, the prediction is less dramatic, with the asset ranging around $5.28 in 2025.
Tezos Price Prediction in 2030
It’s even harder to predict the price of Tezos in around ten years from now, but again, considering the historical analysis of cryptocurrencies’ growth, the price is set to increase. According to some crypto experts, the price of Tezos will be around $34 in 2030 with a price change of close to 1275% comparing to the price of now.
Tezos Price Prediction – Is Tezos a Good Investment?
Many experts are optimistic about the price of Tezos in the long run, but why?
One thing to know is that Tezos does not have a maximum supply cap. Like for example, Bitcoin has a supply cap of 21 million. There is also an average inflation rate meaning the crypto tokens become expensive by 5.5% per annum. But the price does not drop down because of this, thanks to convenience yield.
It means that people will keep the cryptocurrencies with them if get a benefit from them. If Tezos has a valuable application, then the lack of a maximum cap on the supply will not matter. Also, because of the inflation rate, users might stake more of their XTZ and this can help increase the security of the Tezos network.
The next thing to consider is the demand and supply. XTZ is less circulating in the exchanges because the majority of the currency is stored in staking. But the crypto demand for XTZ is rising, and this is evident from the high trading volume relative to other cryptocurrencies.
There is also an increase in the developer demand for the Tezos blockchain. Also, the Tezos Foundation is bullish. It has been involved in some high-level partnerships with esteemed organizations and there is an overall promising sign for people to involve in this project.
To end the Tezos crypto price prediction, Tezos is also one of the most decentralized companies in the crypto world. This creates more stability. Also, in the future, more crypto users will prefer to use platforms that are decentralized and provides them complete access to their funds and assets.
Tezos Crypto Price Prediction – Is Tezos Safe to Buy?
It is safe to buy if you trade it from a highly secured and popular exchange like Binance. Considering the price growth, the general rule remains the same – Only invest that much amount of money that you can stand to lose entirely. Also, since Tezos is decentralized, you have complete control over the funds and assets, so it is quite safe. Not to forget, the market cap is high so there is general trust on the platform.
Tezos Crypto Price Prediction – How to Buy Tezos – A Step by Step Guide
The starting point to trade Tezos on the majority of the exchange is having Bitcoin or Ethereum in your wallet. You can purchase these easily, if you do not have through exchanges like Coinbase and use your credit card or debit card for it. Let’s start with this step:
- Set up an account in Binance Or Coinbase. For this, you just need basic information like name and e-mail. You can then add an extra layer of security by setting up two-factor authentications on your mobile phone. Following this, set – up the funding source. Essentially, you will link your credit card or bank account to buy Ethereum or Bitcoin. Once you set this up, go to the next step.
- The next step is to purchase Bitcoin or Ethereum. Select the amount you want to buy and complete the transaction with your credit card or bank account based on the one linked to your Coinbase account.
- Following this, use the Bitcoin or Ethereum balance to purchase your Tezos. But you cannot do this through Coinbase since it allows only a few cryptocurrencies. So, transfer your funds to another exchange. While you transfer the funds to the other crypto exchange, make sure you enter the correct wallet address. Once you see the amount reflected in the other crypto exchange, complete the transaction to buy your first Tezos balance. You can get Tezos from Binance, one of the other major cryptocurrencies out there!
Tezos Price Prediction – Best Crypto Exchanges to Buy Tezos
Some of the popular platforms for buying and selling Tezos are:
- Binance – one of the largest cryptocurrencies in the world, based on the trading volume
- Coinbase – Provides an easy platform to crypto trade and buy cryptocurrencies like Tezos.
- Crypto.com – Provides a crypto platform to trade more than 55 cryptocurrencies
- Kraken – In terms of euro volume, it is the largest cryptocurrency exchange in the world
- Etoro – One of the oldest platforms to trade cryptocurrencies
One tip for XTZ Price Prediction – Compare the price of Tezos on different cryptocurrency exchanges, Yes, they do vary a little. You can use platforms like Cryptoradar for this. It will help you marginally increase your profits.
Will Tezos Reach $100?
In the next five years, the price of Tezos reaching the century mark is extremely unlikely. The most optimistic predictions can see Tezos reach $100 by 2030 at least. Just choose a good Tezos wallet and HODL XTZ!
Which is Better – Tezos or Ethereum?
Tezos is a major competitor to Ethereum and ERC-20 platform. XTZ wants to emulate the same success that ETH has had, with its own ecosystem of projects. One way Ethereum differs is that Tezos uses the Proof-of-Stake algorithm rather than the Proof-of-Work algorithm. But, Ethereum 2.0 is already launched in December 2020 and running on Proof of Stake algorithm.
Tezos is sustainable and secure and has already been running on Proof of Stake, distributing staking rewards to loyal users for securing the blockchain. Also, Ethereum 2.0 has multiple phases. We are currently on Phase 0. ETH will be switching to PoS fully in its next major upgrade and move away from resource intensive mining in next 2 years.
From this perspective, people believe that Tezos is better than Ethereum. But of course, Ethereum has more establishment in the crypto world as of now, at least. There is no blockchain that is as successful as Ethereum to create network effect and have more developers working to solve real world problems on blockchain.
Takeaways – Tezos XTZ Price Prediction
Overall, the price prediction of Tezos is optimistic. It is one of the most exciting platforms out there for both experienced crypto investors and new entrants. Engage with the community to get Tezos price predictions on Twitter, understand the historical price data, and get started with your first Tezos investment with caution (and optimism!).
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates