Tezos (XTZ) Market Cap Up 119 Percent But Platform Usage Low

Tezos (XTZ) Market Cap Up 119 Percent But Platform Usage Low
фото показано с : bitcoinist.com

2019-10-9 12:00

Tim Draper-backed Tezos is among one of the best performing cryptos in terms of market cap for 2019. However, this growth is yet to trigger a similar increase in the usage of the smart contract platform.

Tezos Market Cap up by 119% in 2019

According to data from CoinMetrics, Tezos market capitalization has grown by about 119% since the start of 2019. XTZ’s market cap growth seems almost in tandem with bitcoin’s (BTC), following a similar path across the months of the year.

The CoinMetrics report also revealed a positive growth in Tezos’ realized market cap — the measure of a crypto’s average cost basis. The realized market cap for XTZ is up by 10% in 2019.

The increase in realized market cap for XTZ marks a departure from the norm for altcoins like Ethereum (ETH) and ZCash (ZEC) which have all declined since the start of the year.

This market cap growth also marks a significant reversal from XTZ’s performance in 2018. While the crypto market did suffer a year-long bear market in 2018, Tezos experienced additional operational and financial troubles.

Once one of the biggest ICOs in history, XTZ lost more than $170 million from its market cap in one day. This massive drop occurred barely hours after announcing the launch of its mainnet.

The project also suffered other hiccups in 2018. First came disagreements among the project’s top hierarchy followed by a legal tussle that threatened to scupper development on the platform.

Tezos users also suffered a lost password scare in the run-up to the release of the project’s mainnet.

Growth Not Reflected in Usage Stats

Despite the growth in market cap, CoinMetrics reports that user stats for Tezos still remain significantly low. XTZ’s active addresses count of 4,803 pales in comparison to ETH which stands at over 286,000.

An excerpt from the report showing low usage on the Tezos platform reads:

XTZ has a small number of contracts overall. As of October 6th, XTZ only has 108 contracts that contain code. This compares to over 11,000,000 contracts with code on Ethereum.

Additionally, the report revealed that the transaction count on the Tezos platform is a lot higher than the transfer count. This disparity means that most of the operations on Tezos are non-monetary in nature.

Rather than value transfer, it appears the Tezos platform is mostly seeing transactions like ledger amendments and account creation.

Will the Tezos platform eventually see significant usage? Let us know in the comments below.

Images via Pixabay, Coinmetrics.io

The post Tezos (XTZ) Market Cap Up 119 Percent But Platform Usage Low appeared first on Bitcoinist.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market tezos cap 119 2019 xtz platform

market tezos → Результатов: 126


Market Commentary: Bitcoin Price Strikes Out Again As Regulators Spook Libra

Cryptocurrencies were finally seeing some respite… until a new plunge pushed the leading crypto back under $8,000. The market followed BTC with losses in the 5% range for most top cryptos. Notably, Stellar (XLM), IOTA and Tezos (XTZ) have posted gains at around 5%, while the rest of the market has largely maintained the same […] The post Market Commentary: Bitcoin Price Strikes Out Again As Regulators Spook Libra appeared first on Crypto Briefing.

2019-9-26 19:08


Bitpie Wallet And Tron To Help Projects With ‘Cold wallet + Multisig’ As TRX Gets Celsius Inclusion

Bitpie Wallet Partners TRX To Help Startups Tron’s TRX has been struggling in the crypto market. Despite this, the 11th largest cryptocurrency is popular with digital exchanges. In a recent poll conducted by Bitpanda, 54% of voters supported the listing of TRX in the exchange, followed by Tezos at 23%. This news was shared by […]

2019-5-25 21:16


Tezos [XTZ] price pumps by 10% in sluggish market as real-estate tokenization sways market

As the collective was ensconced in the Bitfinex-Tether drama that led to waves of fluctuations in the price of Bitcoin and the collective market, one coin was unfettered, slowing edging upwards. Tezos [XTZ] has seen a massive bump in its price owing to a significant announcement of the integration of its blockchain for a digital […] The post Tezos [XTZ] price pumps by 10% in sluggish market as real-estate tokenization sways market appeared first on AMBCrypto.

2019-4-27 09:20


Tezos [XTZ] closes week as highest gainer in top-20 coins; pumps by 10%

In what was the most successful week in 2019 for the cryptocurrency market, Tezos [XTZ] was further buoyed by a massive price pump at the end of the week. The 19th largest coin in the market soared to become the highest gainer in the top-20 list, which include the likes of a bullish Bitcoin [BTC], […] The post Tezos [XTZ] closes week as highest gainer in top-20 coins; pumps by 10% appeared first on AMBCrypto.

2019-4-6 10:30