XTZ Sees 64% Jump, Reaches 8-Month Price High

Recently, Tezos (XTZ) surged 64% in just 24 hours, reaching $1.40 on November 18. This marked the highest price since early April. The rapid climb pushed Tezos from $0.78 to $1.40, outperforming other altcoins like Hedera. Will XTZ keep rising, or will the rally stall?

Everstake’s Impact and Validator Support

The surge came after Everstake, a validator platform, announced support for Tezos staking. The announcement added fuel to a growing sense of optimism around Tezos. 

Recent reports from Messari also show strong growth in key metrics. Tezos is seeing an increase in activity across its network. Projects like Rarible and gaming platforms such as Sugarverse and BattleRise are helping boost the ecosystem. 

What’s Next for Tezos?

Tezos’ partnership with Manchester United to launch Fantasy United has further ignited excitement around the blockchain. Additionally, Tezos’ market cap jumped 44%, reaching over $1.16 billion. 

The daily trading volume surged by 520%, hitting over $388 million. This rapid growth suggests strong support at the $1 mark. If bulls maintain momentum, the next target could be $1.56, followed by the $2.00 resistance level.

The upward trend is backed by solid metrics, but broader market conditions will play a role in the future of Tezos. With Bitcoin hitting new all-time highs, the overall market sentiment remains positive. Tezos could continue to climb if this momentum holds.