Maybe you’ve heard of this token and are wondering, “Is it a good investment?”, “How much will Tezos be worth?” or “Can Tezos reach 1000 USD?”. If so, read on for a Tezos price prediction for 2020, 2022, and 2025.
Distributed Ledger Technology (DLT), also known as Blockchain Technology, is one of the most disruptive things to come along in recent years.Just like the internet and e-mail changed the way we communicate, just like the World Wide Web reshaped the internet by making it more comfortable to browse and accessible to everybody, so are blockchains reshaping the web as we speak.
The Ethereum blockchain, launched in 2015, was the first of the second-generation blockchains, blockchains that had scripting languages that allowed apps and smart contracts to run on the blockchain. Another second-generation blockchain is Tezos, launched in 2018. Tezos is also the name of the Tezos blockchain’s native cryptocurrency (also known as a “tezzie”).
Tezos Historical Price Analysis
The Tezos blockchain launched on June 30th, 2018. The ICO for Tezos ran from July 1st – 14th, 2017 and was one of the year’s biggest ICOs.
The token’s price during the ICO was 0.47 USD. Since then, there have been significant variations in price, as with all cryptocurrencies. The graph below shows the full history of XTZ:
XTZ’s price at launch was 2.94 USD, and it reached its all-time high a few weeks ago, on August 13th, 2020, when it was worth 4.39 USD. The all-time-low was on December 7th, 2020. That day one XTZ was worth 0.35 USD.
Current Price, Market Cap & Supply Details
At the time of writing this article, one Tezos token (aka “tezzie”) is worth 2.60 USD with a market cap of almost 1.9 billion USD and a 24-hour trading volume of over 122.5 million USD. There are currently, 723,980,684 tokens are already circulating.
Since Tezos uses a Proof-of-Stake consensus, there is no mining of Tezos tokens and no set maximum supply; tezzies are being continuously produced.
Tezos (XTZ) Future Price Forecast Predictions
Crystal balls don’t work, so there’s no particular, foolproof way to see the future. But traders use unique mathematical algorithms to predict cryptocurrencies’ short- and long-term prices. We can turn to these algorithms to help us decide whether a specific token seems like a good investment or not.
Let’s see what the algorithms say about Tezos:
Tezos Price Prediction 2020
Tezos is expected to go through a low-price phase during September-October 2020, with a 16% drop in price by late September.
But the price should recover by late October and finish 2020 at around 3.01 USD, which would mean a 15.77% increase on its current price of 2.6 USD
Tezos Price Prediction 2022
Price predictions for Tezos say it should exceed its all-time-high sometime in mid-to-late 2021. And by late-2022, XTZ is expected to be worth about 6.10 USD, a 134% increase in its current price.
Tezos Price Prediction 2025
By late 2025 XTZ is expected to have taken off. The price is predicted to be about 24.06 USD. This represents an increase of over 825% on its current price.
Is Tezos a Good Investment?
As with all cryptocurrencies, success as a currency depends on the success of the blockchain it powers. So we have to take a look at what the Tezos blockchain brings to the table.
For starters, it has a scripting language that enables it to host smart contracts and dApps. This is a good thing, but Tezos is hardly unique in that area.
Tezos claims to offer a more stable platform that can make significant changes without “forking” the blockchain. Will this increased stability make it more attractive to developers?
Only time will tell, but price prediction algorithms say that tezzies will increase in value by 825% within five years, so Tezos does look like a good investment, at least in the long run.
If you want to get your hands on some tezzies, you’ll find that it’s not different from buying any other altcoin.
First, you have to find out where you can buy them (which exchanges list XTZ) and then see what you can use to pay for them (which trading pairs are available).
An excellent place to start is coingecko.com. Let’s look at their market listings for Tezos:
You can see that Tezos is listed on the top cryptocurrency exchanges, like Kraken, Binance, Bitfinex, and Coinbase Pro.
On Kraken, available trading pairs include XTZ/USD, XTZ/EUR, XTZ/XBT, and XTZ/ETH, meaning you can buy tezzies with US Dollars, Euro, Bricktox, and Ether.
Once you know where to go, you have to log in to your account on that exchange, fund your account and make your purchase.
More Information About Tezos
What is Tezos?
Tezos is both the name of a smart-contract-capable blockchain and of the cryptocurrency that powers that platform. The cryptocurrency is also known occasionally as a “tez” or “tezzie.”
The Tezos blockchain is a smart-contract capable blockchain, meaning it can host smart contracts and dApps. While this is undoubtedly a plus, Tezos is hardly unique in that respect.
There is heavy competition from smart-contract pioneering blockchain Ethereum and other platforms like EOS, TRON, or Neo. What Tezos brings to the table is that decision making is built into the blockchain itself.
All token holders vote on decisions related to the blockchain, including protocol changes. Approved changes are then automatically applied, as the blockchain is self-change capable.
This can make the blockchain very stable, capable of major protocol changes without having to fork into new blockchains.
Is Tezos better than Ethereum?
In some technical aspects, we can say Tezos is better than Ethereum. For starters, using Proof-of-Stake consensus instead of Proof-of-Work makes the blockchain less resource-intensive, meaning transaction fees can be lower.
Gas prices on Ethereum can become very high in times of high network activity. Also, because decision-making is built into the blockchain itself, Tezos is a lot more resistant to forking and thus more stable.
On the other hand, Ethereum is still, by far, the most successful smart-contract-capable blockchain, with over 2600 dApps running at the time of writing.
Developers are naturally more attracted to the more successful platforms. At this point, it’s kind of like comparing the number of developers for Windows or macOS apps to the number of developers for Haiku OS.
The Tezos Foundation Council is composed of:
- Huberthus Thonhauser (Chair)
- Alexis Bonte (Member)
- Lars Haussmann (Chair of the audit committee)
- Alice Lloyd George (Member)
- Daniel Masters (Member)
- Marylène Micheloud (Member)
The operational management of the Tezos Foundation is handled by an Executive Committee formed by:
- Huberthus Thonhauser (Chair of the Foundation Council)
- Ulrich Sauter (General Counsel)
- Roman Schnider (CFO)
Blockchains have the potential to change the way we use the internet and can also make positive changes in many areas, including education and healthcare. But like any nascent technology, blockchains still have some problems to solve, including scalability and stability.
Sometimes a blockchain needs a major change in protocol to solve a problem, but the blockchain developers can’t agree on the best way to proceed. When this happens, a blockchain sometimes ends up splitting into two chains, each one implementing a different option.
This is what is known as “forking” the blockchain. Tezos looks to avoid this problem by building the decision-making process into the blockchain itself.
So, what is the future of Tezos? Will this on-chain decision-making be enough to attract developers to build great dApps on Tezos?
Regarding Tezos as an investment, if you’re looking for a quick answer to the question “Which cryptocurrency will explode in 2020?” then Tezos isn’t your answer.
For now, price prediction algorithms tend to point towards an increase in value in the long-term. So if you’ve got a few extra dollars lying around and are willing to put them in an investment for about five years, then Tezos is something you might want to look into.