Tezos (XTZ) is today leading crypto’s top 10 coins by market cap in terms of daily gains.
The cryptocrypto market suffered a brutal hit yesterday following a stock market crash and plummeting oil prices. Today, it’s recovered somewhat—and Tezos, the tenth-largest cryptocurrency by market cap, is up by nearly 10 percent.
XTZ is currently trading for around $2.65 per coin.
It’s good news for Tezos holders, but not great news—considering that XTZ was trading for more than $3 per coin just last week.
Coronavirus, Bitcoin and the stock markets: Live updates
Developing stories: March 12 A sudden market shock: The price of Bitcoin crashed by $1,000 in under an hour. All coins—barring stablecoins—are in the red, with many seeing losses between 20-30%. March 11 UK announces £30 billion coronavirus package: Chancellor Rishi Sunak unveiled a £30 billion package to help the economy through the coronavirus outbreak. Altcoins showing signs of life: Though roiled by the market crash, everyone’s favorite altcoins seemed to come back a bit today. Here’s a l...
Still, the asset is today faring better than most. Bitcoin is currently trading for right around $7,900 per coin, struggling to break past the $8,000 resistance level. Ethereum, meanwhile, has cleared $200 per coin, and is currently up around 3 percent.
All in all, it’s good news for the crypto market, as the tide appears to be turning. The same can be said for traditional markets as well.
Stocks and oil are now showing signs of life. After falling more than 2,000 points yesterday, the Dow jumped back up by 500 today. Oil is now trading above $34 per barrel, up from a low of around $27 yesterday.
