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Wednesday, January 19, 2022

XTZ Price Saw A Rally Of 50%

One of the many projects that have benefited heavily from being focused on NFTs and the green revolution has been XTZ. For the uninitiated, this is a layer-one smart contract protocol that is quite capable of evolving its own network without having the necessity of undergoing a hard fork.

As it goes, the current year has been quite a breakout for the market of cryptocurrency and aside from the price of Bitcoin reaching new highs, the emergency of a vast DeFi ecosystem along with the rising popularity of NFTs has put the technology of blockchain into the mainstream in a way that makes it look guaranteed to ensure mass adoption. 

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According to data that was received from TradingView and Cointelegraph Markets Pro, it could be understood that after touching a new low of $3.23 on the 3rd of December, XTZ managed to reverse its price as it gained around 68% to reach an intraday high of $5.45.

There are quite a few reasons which can be attributed to this recovery of this altcoin, amongst which would be the launch of the NFTs of Ubisoft on this blockchain, and the focus of the project to create a blockchain platform that is quite environmentally friendly. 

XTZ Partnering With Ubisoft

The latest development for XTZ, something that really helped increase the price, was the announcement of an interesting partnership with Ubisoft- the famous video game maker. The gaming company has had plans of launching the Ubisoft Quartz- which is a platform where users would be able to acquire specialized NFTs called Digits- something that could be used in-game.

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One more reason for XTZ to be growing so steadily would be the focus of the protocol on creating a sustainable as well as an environmentally-friendly network of blockchain. 

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