RATE Group | Tezos Beats Bitcoin in Latest Price Rally, Up 44% This Week
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Tezos Beats Bitcoin in Latest Price Rally, Up 44% This Week

02 Aug Tezos Beats Bitcoin in Latest Price Rally, Up 44% This Week

Posted at 15:05h in Bitcoin News by

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Tezos (XTZ) is proving to be a better near-term investment than bitcoin this week. The altcoin, accompanied by favorable fundamentals, has surged by 44 percent in the last four days as it looks to close the week at an even higher rate.

As of 12:29 UTC, the XTZ/USD instrument was trading at 1.452, up 3.71 percent in the last 24 hours. The move upside brought Tezos market capitalization to circa $962 million, which makes 0.40 percent of the entire cryptocurrency market valuation. At its highest, the cap was around $1.457 billion.

tezos, xtz price

Tezos has Surged 16% in the Previous 24 Hours | Image Credits: CoinMarketCap.com

The surge accompanied a similar price action across the rest of the cryptocurrency market. Bitcoin, the world’s leading cryptocurrency, broke out of its interim bearish bias soon after the Federal Reserve reduced the interest rates by 25 bps. It further got a boost from US President Donald Trump’s decision to slap additional tariffs of worth $300 billion on Chinese imports.

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