Tezos is an open-sourced platform for assets and applications based on the proof of stake protocol. The Tezos blockchain is a sought-after ecosystem for a number of new digital asset deployments. According to one claim, the blockchain has the capability of processing 40 transactions per second. The native token of Tezos, XTZ, got a massive upsurge after getting an endorsement from billionaire Tim Draper.
In a recent interview, Draper told media that the PoS based protocol of the Tezos blockchain has inherently low energy requirements and massive potential for smart contracts. He was commenting on the recent Draper Goren Holm’s partnership with Tezos. The firm is a crypto venture that invests in select digital asset projects that show viability.
The $25 Million Venture Fund is Going to Skyrocket the XTZ
For the time being, XTZ is trending at $5.90. This new ATH is the result of the recent $25 million venture fund investment by Draper Goren Holm. The NYC-based crypto startup investment firm has also been the first US-based company to invest in Kalamint, the NFT market launched by Tezos Stable Technologies.
The firm has announced that it plans to host some of its prospective crypto assets on the blockchain for both incubation and acceleration purposes. Thus far, the XTZ has seen a 29.50% increase and is likely to stay on this correction path. Many crypto enthusiasts are rushing to the exchanges to join in the current uptrend.
The Tezos Stablecoins are Going to Make some Difference
Ever since its conception in 2018, the Tezos blockchain has been getting traction for the issuance of more digital assets. Draper Goren and Holm also collaborated with the blockchain to issue a USD-based stablecoin USDTez in 2020. In recent year, Tezos Technology partnered with a Paris-based company Lugh.io to issue a Euro pegged stable coin called (Euro-L).
The Tezos blockchain powers the new stablecoin Euro-L. The stablecoin would be available for both retail and institutional investors at Coinhouse, a leading French crypto exchange. Many financial analysts are positive that Tezos token XTZ would be able to keep climbing the steady bull wave for the better part of 2022 as well. Tezos already listed on the major exchange platform Coinbase back in 2019.