Embattled DApps and smart contracts platform Tezos has become an unlikely trading hit this week after its XTZ token delivered sudden 70 percent returns.
Tezos Traders Go From Rags to Riches
Data from CoinMarketCap confirmed XTZ’s abrupt bull run, which began March 19. After trading at just under $0.50 for an extended period, XTZ/USD 00 shot up to a peak of more than $0.83, delivering three-day gains of 70 percent.
The performance marks a dramatic change for the token, which had previously traded rangebound between $0.33 and $0.49 since early December.
That ‘trough’ had come at the end of a long downturn for XTZ, which had shed value in line with the majority of altcoins as part of the cryptocurrency economy’s record bear market.
At press time, the pair had slightly come off its daily highs to trade nearer to $0.80, nonetheless to the delight of traders, some of whom had seen the opportunity beginning to develop before.
As Bitcoinist reported, Tezos has suffered multiple PR disasters in the eighteen…