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Tezos Price up 30% in 24 Hours After Main Net Announcement

Cryptocurrency market movements during the weekend are always interesting to keep an eye on. More often than not, some surprising developments will take place when people least expect it. The Tezos price is currently on a tear, and it will seemingly not relent anytime soon either. A welcome sight after several months of bearish pressure.

Tezos (XTZ) Price Trend is Going Strong

Ever since the Tezos team put all of their internal issues behind them, the project has seen vast improvements. With tokens finally being issued to investors and the project entering the beta testing an important step was taken in the right direction. The expectations for Tezos have never been high as of right now, although it seems this may only be the beginning of what is yet to come.

More specifically, the current Tezos price momentum shows there is a lot of hype surrounding this project. Albeit things like these often tend to happen in the cryptocurrency world during the weekend, there is a good reason as to why XTZ is in such high demand right now. The developers have announced a major milestone for the project, which will immediately show how viable this project will be in the real world.

The Tezos project will effectively switch to the main net in the coming days. According to the developers, the Tezos main net will go live on Monday. Although something can still go awry to push back this launch, it seems safe to say things will go off without a hitch on Monday. That marks an important development for one of the most successful ICOs in the past two years.

As one would come to expect from this particular announcement, some community members are over the moon about this main net launch. Some even go as far as claiming how Tezos will enter the cryptocurrency market cap top 5 in the near future. That seems rather unlikely at this point, although stranger things have happened in this industry over the years.

There is another interesting Twitter “debate” taking place pertaining to XTZ. One user asked the community if Tezos can hit $100 faster than Ethereum will return to $1,000 or more. So far, it seems this poll is clearly in favor of XTZ hitting that $100 mark, though it would require a sixty-fold increase based on the current value. That is quite a steep hill to climb, but anything is possible in the currency world.

How high the Tezos price will go in the coming hours and days is very difficult to predict. The current momentum appears to hint at a jump to $2 in the coming days, although one cannot ignore the number of investors looking to take profits while the momentum remains positive. For now, remaining above $1.6 shouldn’t pose too many problems, although there is very little trading volume to back up this trend as of right now.

Do you think this is just a pump? Will XTZ price go higher? Let us know in the comment section below!

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XRP holders have been incredibly excited as of late due to the cryptocurrency’s overwhelming performance over the past week, leading the crypto markets as it rose from $0.25 all the way up to nearly $0.80 before stabilizing at its current price of $0.45. XRP investors may now have another use-case to be excited about: Coil. Coil To Accept XRP Payments The reasons behind this meteoric rise have been somewhat unclear, but things like the upcoming Swell conference, hosted by Ripple, and the potential release of Ripple’s XRP based settlement system, xRapid, have been floated as reasons behind the price rise. In addition to being used for Ripple’s xRapid product, investors may be excited to hear that the upcoming launch of a new company, called Coil, may provide even more use-cases for the cryptocurrency. Coil is a recently founded company headed by a former Ripple executive, that allows the internet’s largest companies to effectively accept XRP as a form of payment, expanding its use from simply a settlement vehicle to an effective currency. Coil was launched earlier this year by Ripple’s former Chief Technology Officer, Stefan Thomas, with the goal of using micro-payments to fix the issues that currently exist with online advertisement placement. Coil currently has trial partnerships with sites like YouTube, Wikipedia, and Twitch. Thomas spoke about Coil’s mission, saying: “For decades, people have discussed the potential of micropayments to support content creators that would move us away from the broken ad-supported web… Others have created subscription services that bundle content. But micropayments and subscriptions have always been built as closed systems, which fail to capture the huge variety of content on the web.” Coil is a direct competitor with the Brave web browser, which utilizes BAT tokens in order to facilitate micro-payments for internet content. Coil is also similar in concept to ChangeTip, an internet tipping app that was popular on social media before it burned through its funding and closed its operations. Coil Could Affect XRP’s Price Because XRP’s recent price spike can be largely attributed to speculation regarding the xRapid being released during the Swell conference occurring in the coming weeks, it is clear that investors are looking to see just how practical XRP is as a cryptocurrency, with many detractors claiming that there simply aren’t enough use-cases that make it a better alternative to Bitcoin or other competing altcoins. That being said, investors may take note of the use of XRP for Coil’s upcoming launch, which could positively affect XRP’s price. Currently, one of the most popular and widespread methods for tipping influencers and content creators on Twitter and Reddit is through the XRP Tip Bot, which has facilitated over 55,000 XRP tips totaling at 72,684 XRP sent in total. Coil would take the concept of micro-payments using XRP to the next level, and, if successful, could prove that XRP is efficient for transferring both large and small quantities of value. Featured image from Shutterstock The post How Coil Could Impact XRP Price After Recent Pump appeared first on NewsBTC.

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