Tezos Surges 50% in a Week Ahead of Scheduled Mainnet Launch

Tezos, the eighth largest initial coin offering (ICO) in history, is launching its mainnet on Monday. Ahead of its mainnet launch, the price of XTZ, the native token of the Tezos network, surged by more than 50 percent.

Since September 9, XTZ has increased by over 52 percent from $1.15 to $1.75, prior to its highly anticipated mainnet launch. Investors in the cryptocurrency market have been especially enthusiastic about the progress that has been made on the development of Tezos over the past few months, after a year-long dispute amongst its founders that stalled the launch of the blockchain network.

Although Tezos completed its $232 million ICO in July of 2017, the development of the blockchain network was delayed due to the conflict between its co-founders and founding members of the foundation.

Ultimately, the legal battle between the founders was resolved and the development of Tezos was resumed, allowing the foundation to streamline the process of releasing its first…