Tezos ($XTZ), a cryptocurrency based on smart contracts, has been surging lately. The whole crypto market and its major coins saw a decline; however, this coin has kept rising for three consecutive days now.
$XTZ has surged past 30% today. It was priced at $5.58 at 10:31 a.m. ET, surging by 31.78% in 24 hours. Also, the 24-hour high of $5.85 illustrates an increase of 3.1% than yesterday’s close of $5.67. Further, the market capitalization is up by 31.8% to $4.8 billion. Moreover, the trading volume increased by a whopping 786.36% to $1.7 billion.
Yesterday, the crypto surged past 50%. The CoinMarketCap data shows that after hitting the $3.23 low on December 3, 2021, the price of $XTZ not only recovered but surged 68% to $5.45 on Tuesday when the whole market was rebounding.
Earlier, the coin had dipped 24.7% since the first day close of $5.14 of December. The crypto closed at 3.87 on December 5 following the crypto market crash. The rebound and surge suggests that the coin might hit new highs in the near future. However, the market’s volatility can change the trend too.
One of the primary reasons for the price surge of Tezos is its partnership with Ubisoft. It is the most recent development for XTZ. The gaming company is set to launch Ubisoft Quartz, a platform where users can gain unique NFTs- called Digits and utilize them in-game. The platform will be built on the Tezos blockchain. The Ubisoft Quartz Beta is set to launch tomorrow, December 9.
The beta will be accessible to Tom Clancy’s Ghost Recon: Breakpoint players. Moreover, players fulfilling specific criteria will be entitled to three free cosmetic NFTs for early joiners of the platform.
It is yet to see whether the coin surges further or will it dip with the dipping market.