In the last 24 hours, Tezos' price saw a significant surge, reaching $1.40. This leap can be attributed to several factors, including backing from Everstake and positive Messari data.
Why Did Tezos Price Rise?
One reason for the increase was the announcement from validator platform Everstake about supporting tez staking. Additionally, the recent Messari report for Q3 2024 highlighted substantial growth in transactions, decentralized applications, and the active validator count.
Current Tezos Performance
On November 18, Tezos topped the list of leading gainers among the top 100 cryptocurrencies by market capitalization, with daily trading volume spiking by 520% to $388 million. Its market capitalization rose by 44% to over $1.16 billion.
The Future of Tezos
Tezos' current growth could continue if it manages to surpass current resistances. Key areas to watch include the year-to-date highs around $1.56 and the horizontal resistance at $2.00.
The sharp rise in Tezos' price is driven by strategic moves and positive market sentiment. This provides a solid foundation for future price increases.
