Cryptocurrency markets are always peculiar when the weekend is around the corner. Bitcoin is struggling for momentum, whereas some other top 20 coins are showing signs of life. Investors in Tezos will be happy with the way things are going right now. The Tezos price has surpassed $1.5 thanks to another bullish run.
Tezos Price Goes Through a Nice Surge
It is evident this current cryptocurrency market momentum is a bit of a mixed bag. Not all top currencies are on the same line, although that doesn’t have to be a bad thing per se. For the Tezos price, things are going according to plan. Although there is a good reason for this sudden uptrend, an increase of 16.65% cannot be sustained with hype alone.
As is always the case, such steep gains will be met with a correction eventually. Even though the Tezos price has surpassed $1.5, it may not remain above that level for very long. It will mainly depend on how long the XTZ/BTC gains can remain in place. A near 17% uptrend in this regard is spectacular, but it is also unsustainable in this volatile industry.
The positive news for Tezos is how the project is inching closer to seeing its main net go live. The project has been in beta testing for a while now, yet a shift to its own native network will bring a lot more legitimacy to this project. According to the developers, the Tezos main net will launch on Monday, September 17th. Whether or not they can stick to that date, is a different matter altogether.
— John M. Spallanzani (@JohnSpall247) September 14, 2018
It didn’t take long for this announcement to get a lot of people excited. The Tezos price may very well continue to rise and eventually reach a value where the project’s market cap would overtake Ethereum Classic. That would certainly be an interesting development for the industry, although it may not materialize anytime soon.
— Tezos~CryptoDelegate 🚀ꜩ🌛 (@CryptoDelegate) September 14, 2018
Competition continues to heat up in the world of blockchain and cryptocurrency. Various projects have gone live with their main net these past few weeks, and it seems Tezos will simply join this list. Keeping all of those details in mind, it is safe to say the year 2018 has been pretty good for the cryptocurrency industry. Positive developments are not hard to come by when looking beyond the traditional coins.
How things will evolve for the Tezos price, remains to be determined. A strong push toward $1.6 can materialize fairly quickly, primarily because of the hype and excitement surrounding the upcoming main net launch. At the same time, this event triggers a signal for holders to take profits and sell their tokens. The coming days will be rather interesting in this regard.