Bitcoin price gained 30% against Tezos in the last month

Despite meteoric growth towards the end of 2019, Tezos is now struggling to maintain its momentum, and has lost significant ground to Bitcoin.

1 min read

Jan 13, 2020

In the last month, Tezos (XTZ) has lost significant ground to Bitcoin (BTC), and the cryptocurrency has been on a stark downtrend since last December, losing a lot of its earlier gains. According to data from Messari Pro, Tezos fell 34% against Bitcoin in the last 30 days and the cryptocurrency is now down more than 27% for the month against the US dollar.

Overall, Tezos is one of the worst-performing major cryptocurrencies in the last 30 days. One XTZ is now worth $1.30.

This comes just months after Tezos saw an impressive rally. The price of Tezos rose from $0.85 to $1.83 between November and December, last year. This was largely led by a flurry of crypto exchanges adding staking support for the proof-of-stake coin.

Bitcoin, on the other hand, is one of the best performers of late, and is currently trading at $8,101—up almost 11% in the last 30 days.

However, its progress has been masked by Bitcoin SV (BSV)—a rival coin backed by self-proclaimed Bitcoin founder Craig Wright. BSV surged by 71% in the last month against USD, while gaining 52% against Bitcoin. It now rests at the eighth largest cryptocurrency by market cap.

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