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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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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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