- Tezos Price Taking A Slight Breather After Having Risen by almost 100% Through August.
- More upside potential for the DeFi crypto as buying interest increases.
- Green NFT platform OneOf that is built on Tezos, teams up with iHeartMedia to create the Official Collectible NFT for the 2021 iHeartRadio Music Festival.
The Tezos price has been on a pretty unstoppable run lately, almost reaching the $6 level over two weeks before retreating slightly over the past few days. However, the DeFi crypto’s growth has been impressive in August alone. Languishing in a low of $2.96 on 1 August, the Tezos price shot up to $5.90 on 29 August or an increase of almost 100%.
The Tezos blockchain is also being used in NFT projects and a recent announcement should spark considerable interest in the cryptocurrency. OneOf – the “Green NFT” platform built for all music fans which uses Tezos, and iHeartMedia have teamed up to create the Official Collectible NFT for the 2021 iHeartRadio Music Festival.
This is one of the most anticipated events in music every year. And this year, it’s an extra bit more special since the 2021 iHeartRadio Music Festival is returning to T-Mobile Arena in Las Vegas this September 17 and 18, with a star-studded lineup, and two nights of non-stop chart-topping hits from the world’s biggest artists.
If you haven’t yet bought some Tezos then take a look at this How To Buy Cryptocurrency Beginner’s Guide.
Short Term Prediction for Tezos Price: A Pause For Breath Before More Upside
The Tezos price is currently trading at the $5.36 level or a descent of around 8% from its bi-monthly high of $5.90 registered on 29 August. This pullback undoubtedly includes some profit-taking since XTZ rose by almost 100% in less than a month.
If a bullish thesis were to continue, the Tezos price will probably reach and supersede the $6.00 level. If that resistance is broken, then the price could continue rising to the $6.60 level although this could be halted due to other pullbacks.
If a bearish thesis were to enter into the equation, the Tezos price would continue descending from current levels and probably flirt with the $5 mark. A sell-off could push the price below that level although that does seem unlikely at this point.
If you haven’t started trading cryptocurrency yet and wish to do so, then take a look at these Top Cryptocurrency Brokers.
Long Term Prediction For XTZ: Rising Slowly But Surely With New NFT Partnerships
On a long-term basis, the XTZ price is expected to continue rising and should once again reach its ATH later on in the year. The positive news regarding recent partnerships in the music scene with NFT’s should also create more buzz around the token.
Backed by music legend Quincy Jones, OneOf is designed specifically for the music community. It is built on the environmentally sustainable and low transaction-cost blockchain Tezos, which is 2M times more energy-efficient than other Proof-of-Work blockchains.
The OneOf platform can “mint” an NFT at a cost that is 1/10,000th of competing platforms, allowing artists to offer their NFTs to fans for $5, $1, even for free. This makes it truly accessible to all fans of all economic backgrounds or status.
Where to Buy Tezos
If you want to purchase , you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy XTZ is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.
Looking to buy or trade Tezos now? Invest at eToro!
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Gerald Fenech
