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Today, the price of the native token of the Tezos XTZ blockchain is showing good dynamics, having sharply added 28.7% in price (data from CoinGecko). This ascent is especially valuable because most of the popular cryptocurrencies are now predominantly showing declines.
Experts were puzzled by what could have caused such a rapid rise in prices. Due to the fact that buying activity most often affects the movement of the price of a cryptocurrency, the jump in the price of XTZ can be attributed to the activity of traders.
The XTZ token is currently trading at $ 5.43 with a 24-hour trading volume of $ 1.1 billion. Nearly all XTZ indicators show green flags, indicating prospects for continued growth.
If we compare the current price with the all-time high of $ 9.12, set on October 4 this year, it is about 40% below ATH.
In recent months, the crypto space has experienced periods of price spikes followed by sharp drops, so such a sudden rise is already considered normal.
Note that the market share of BTC continues to decline, which indicates an outflow of funds to various altcoins, most likely for price manipulations.
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