Tezos Tuesday Update: January 23, 2024

Lauren McDonagh-Pereira Photography

January 23, 2024

The Week in Tezos

In the past week, the Tezos (XTZ) ecosystem has witnessed some exciting developments, reflecting the ongoing dynamism in the blockchain and cryptocurrency space.

This post is not financial advice. Always DYOR.

Key Developments in Tezos

Partnership with EMERGE Group: One of the notable developments is the partnership between Tezos and EMERGE Group, which aims to boost Web3 gaming on the Tezos blockchain. This collaboration focuses on providing marketing solutions and support for publishing partnerships within the gaming industry. This strategic move is aligned with the recent rally in Tezos’ market value and indicates an upward movement in its price.
Market Performance: Over the last 24 hours, Tezos has seen an increase of 6.51% in its value, with a corresponding surge in trading volume to $58.06M. Despite this, it’s noted that Tezos has experienced positive gains on only 13 days in the last 30 days, highlighting the need for cautious optimism among investors.
Tezos’ Bullish Sentiment: Tezos’ market sentiment currently appears bullish. The Fear & Greed index is indicating “Greed,” suggesting that investors have a positive outlook on the market. Various technical indicators, including moving averages and oscillators, are signaling a bullish prediction for Tezos, with 26 out of 30 indicators favoring a positive prediction.
Tezos Philippines and TZ APAC Collaboration: In a cultural and creative endeavor, Tezos Philippines, in collaboration with TZ APAC, successfully hosted the 3rd Annual Tezmas, a global digital art minting contest. This event showcased the diversity and cultural richness within the Tezos community, with over 100 entries from various countries.

Future Outlook

Looking forward, Tezos appears to be positioning itself strategically within the Web3 and gaming sectors. The partnership with EMERGE Group and the community-focused initiatives like the Tezmas art contest are steps toward broader adoption and utility of the Tezos blockchain. As the blockchain and cryptocurrency landscape continues to evolve, Tezos is making significant strides in establishing its presence and value proposition within the industry.

Sources

“Next Cryptocurrency to Explode Saturday, January 20 – Tezos, Astar, Chainlink.” InsideBitcoins.com. Retrieved January 23, 2024. InsideBitcoins.com Article
“TZ APAC Launches Fortify Labs: A Web3 Startup Studio.” BitPinas. Retrieved January 23, 2024. BitPinas Article
“Tezos Price Prediction: How High Can XTZ Rise?” Cryptopolitan. Retrieved January 23, 2024. Cryptopolitan Article
“Tezos Gained 24.53% in Last Month and is Predicted to Reach $1.24 By Jan 21, 2024.” CoinCodex. Retrieved January 23, 2024. CoinCodex Article