On September 24, China central bank declared cryptocurrency-related trading businesses as illegal. But no ban on cryptocurrency according to reports. As a result of this fear, uncertainty, and doubt (FUD), the crypto market cap crashed, causing most cryptos to decrease in value.
However, Tezos (XTZ), a blockchain network that’s based on smart contracts seems to not care too much about this news as the price surged in the last 24-hour while others dropped.
What is more, Tezos (XTZ) is trading at $6.99 with a 24-hour trading volume of $2,546,642,233. As a result, Tezos is up 7.00% in the last 24 hours. The blockchain platform, XTZ coin has a circulating supply of 860,864,152 XTZ coins.
According to the firm whitepaper, Tezos strives to provide more advanced infrastructure. This menas it can evolve and enhance over time without there ever being a danger of a hard fork.
Furthermore, the open-source platform claims to be secure, upgradable and built to last. Besides, the firm says its smart contract language gives the accuracy that is required for high-value use cases.
Even more, Tezos notes that it is futureproof and will remain state-of-the-art long into the future. Thus, it can include developments in blockchain technology.
Expading more, XTZ holders can vote on proposals for protocol upgrades that have been put forward by Tezos developers.