To speak about Tez, first, we must understand Tezos. On its website, Tezos calls itself an open-source platform for assets and applications that can evolve by upgrading itself.
The stakeholders have full control over the upgrades to the core protocol and the amendment process itself. That’s neat. This unique mechanism allows the Tezos platform to upgrade itself without having to fork the network.
Tez (XTZ) is the native utility token that powers the Tezos ecosystem. Tez serves as the basic accounting unit on the platform, the default mode of interaction with dApps, and staking.
This article is the last guide you need to understand the Tezos blockchain platform and its gas token Tez. I will discuss the key features of the platform and the broad economics of the token.
You can also find the future price forecasts of XTZ and where and how to buy them if that’s why you came here. Let’s dive in right away.
Tez (XTZ) Key Features
| Web3 Participation | Tezos is designed to boost the Web3 revolution, enabling direct interactions between users without intermediaries. |
| User Governance | The platform allows active user participation in evaluating, proposing, or approving amendments to the platform. |
| Institutional-Grade Security | Tezos uses languages like OCaml and Michelson for formal verification and code correctness. |
| Proof-of-Stake Consensus | Tezos uses PoS verification, which consumes significantly less energy compared to PoW blockchains like Bitcoin. |
| Smart Contracts | The platform pitches itself as a leading smart contracts platform, allowing developers to create reliable and secure smart contracts. |
| Seamless Upgrades | The Tezos network does not undergo forking and is endlessly upgradeable through its on-chain upgrade mechanism. |
Tez (XTZ) Tokenomics
The total supply of Tez is 993,447,797 tokens, out of which 972,665,398 XTZ are already in circulation.
In the initial coin offering (ICO), Tezos raised funds by accepting 65,681 BTC and 361,122 ETH. A total of 763,306,929.68 XTZ were issued at launch. 79.59% of the tokens went to ICO participants.
0.41% was allocated to Early Backers and contractors. The remaining 20% was distributed among the Tezos Foundation and the dynamic ledger solutions business entity representing Tezos.
Tez (XTZ) Past Performance
Launched at over $4 a token in July 2018, XTZ prices immediately slipped to sub-$2 figures. The performance gradually improved starting in November and hit an all-time high of $9.18 in October 2021.
However, like other cryptocurrencies, Tez tumbled after the 2021 crypto bull run. Things took a turn when the token started to show signs of recovery in November 2023.
As I am writing these lines, Tez is trading at $1.27, 9.63% up from yesterday. With a 24-hour trading volume of $141 million, the market capitalization is over $1.2 billion now.
Tez (XTZ) Price Forecast 2024
Technical indicators suggest that the market is bullish on Tez and the Fear & Greed Index scores 80, indicating extreme greed. The token recorded 17 (57%) out of the last 30 days in the green territory, with a modest 5.28% price volatility.
Our experts think that the price of XTZ will go up by 0.30% and reach $ 1.29 by next week.
Tez (XTZ) Price Forecast 2025
For 2025, the price of Tezos is predicted to fall between $ 0.93 and $ 1.81. If the token hits the upper end of the prediction, this will be a tidy 44.15% return to the investor who buys the tokens today.
Tez (XTZ) Price Forecast 2030
Though this is a little far ahead into the future, our analysts think that the prices of Tez will be in the range of $ 0.69 to $ 2.63. If we compare that with today’s price, that’s a 109.78% gain.
Where to Buy Tezos (XTZ)?
Thanks to its popularity, you can find XTZ on most of the popular crypto exchanges across the world. Here are a few options.
How to Buy Tezos (XTZ)?
Though you can choose any of the above options, or use the one you already have an account with, I will lay down the steps to buy XTZ from OKX.
- Visit the OKX website, sign up for a new account, and complete the KYC.
- Load the wallet with USDT.
- Navigate to the trading section and search for XTZ/USDT.
- Choose ‘limit order’, enter the number of XTZ tokens you plan to buy, and hit the ‘buy’ button.
- Click ‘confirm’ and your XTZ token will now show up on your OKX wallet.
Conclusion
With the unique concept of digital assets that evolve and a strong emphasis on Web3, Tezos positions itself in a highly demanded spot in the crypto space. The platform’s focus on community governance and forkless upgrades is the icing on the cake.
After the 2022 price correction, Tez, the platform’s token is finally showing signs of recovery. Our experts are bullish on the token.
Nonetheless, it is vital to remember that the crypto market is highly volatile and has a history of wiping out ignorant investors’ fortunes overnight.
The reader is encouraged to do their independent research before committing to such investments. More importantly, never divert your emergency funds or children’s college funds into investments.
