Tezos (XTZ) Defying Gravity As Most Other Coins Keep Falling
On Tuesday (December 17), as Bitcoin struggles to get above the $7,000 level, most altcoins are tumbling. However, so far, Tezos (XTZ) is managing to withstand the strong selling pressure created by the bears in the crypto market.
As CryptoGlobe reported on Monday (December 16), yesterday, between 18:20 UTC and 19:20 UTC, the Bitcoin price fell around 3% to below the $7,000 level for the first time in three weeks.
Usually, when where Bitcoin goes, many altcoins follow And yesterday was no exception, as the vast majority of cryptoassets suffered losses.
Tezos was one of these cryptoassets. However, since then, Tezos has gone up in value: in the past 24-hour period, it is the only cryptoasset in the top 20 (with the exception of stablecoin Tether) that has gone up in value with a price rise of over 5% as you can see in the 24-hour XTZ-USD price chart shown below:
Here is how Tezos has performed against Bitcoin over the past three months:
And during 2019, Tezos has gained an incredible +268.65% against USD versus Bitcoin's otherwise impressive gain of +77.07% during the same period.
With a reported market cap of $1.38 billion, Tezos, which is currently the 10th most valuable cryptoasset, might be able to take over the #9 spot in the coin market cap table from Bitcoin SV (BSV), which currently has a reported market cap of $1.57 billion, in the near future if it can maintain the superb performance it has displayed throughout this year.
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