Tezos (XTZ) is again in the news, and this time, for leading the cryptocurrency market rally after some digital assets continue shed out value.
The digital currency has been leading the cryptocurrency market with close to 20% price gain, according to data from CoinMarketCap.
After testing $9500 again, Bitcoin value dropped by $200 to retest the $9300 zone, however, Tezos continues to maintain solid price gain.
The sudden progress of Tezos, which pushed the digital currency to set an all-time high of $2.06 with 338.27% Return on Investment (ROI), has made analysts to ruminate over the next move of the digital currency.
As at the time of filing this report, Tezos is one of the highest gainer among top 100 cryptocurrencies, a step below ICON which is leading.
Different analysts have weighed in on the moves, with some saying it could be a forerunner for a great thing in the Tezos ecosystem. These analysts have at different times said the sudden price gain could push Tezos higher in the market in terms of price and position.
Podcaster and crypto analyst, Luke Martin, who once appeared on CNN, said XTZ is expected to continue rallying in the same manner with Bitcoin in the next few months. The crypto expert is believes the digital currency would trend higher and higher for the next few days.
He said, he did not trade XTZ before but with its present position, the digital asset appears to be on a bull run.
Never traded $XTZ before but now that it's back above the monthly it sure looks like it's continuing uptrend.
At new ath dollar price.
Expect it to carry the satoshi price. pic.twitter.com/T09cAuuozz
— Luke Martin (@VentureCoinist) February 2, 2020
Beyond Martins, a reputable cryptocurrency expert, by the name Filb Filb, who once highlighted that Bitcoin could touch $3,000 in 2018, said he “has a bag” of Tezos. Going by his chart, Tezos could see 100% price gain if the bull run persist.
— fil₿fil₿ (@filbfilb) February 2, 2020
Meanwhile, at the time of writing, Tezos (XTZ) is changing hands at $ 2.06 USD, with 17.46% price increase against USD, with a market cap of $ 1.4 billion, a circulating supply of 694,191,974 XTZ and 24 hours volume of $ 110 million.