Tazos rises 60% in a week What does it drive to this cryptocurrency?

The Tazos cryptocurrency (XTZ) records a weekly price increase of 60% and is one of the protagonists of the market. This was possible thanks to a series of releases that reactivated interest in their ecosystem.

Among them stands out The implementation of Etherlink, a layer 2 (L2) solution compatible with the Virtual Machine Ethereum (EVM)which facilitates the creation of decentralized applications (DAPPS) and allows faster and more economic transactions when processing part of the load outside the main network (L1).

This L2, in addition, attracts developers and projects of the Ethereum ecosystem, such as Hanji Protocol and Superlendhq, thus expanding the use of the Network Tazos.

It should be noted that Hanji Protocol is a decentralized exchange (DEX), while Superlendhq is a decentralized loan platform that allows users to provide assets to obtain performance or borrow against their holdings, both promoting liquidity and growth in Etherlink.

Likewise, the Tazos team announced the “Season 2” (season 2 in Spanish) by Apple Farm, an incentive program ON-CHAIN that rewards users to interact with DAPPS of decentralized finance (defi) in Etherlink.

The first season distributed a total of 3 million in rewards and attracted 40,000 users, which could lead to new incentives. This promotes XTZ’s demand to make transactions, participate in the standking and make governance decisions within the network.

The increase in activity promoted the price of Token, which at the time of publication It is negotiated in $ 1.06, even 88% below its historical maximum (ATH) of $ 9.18.

Also, we must not lose sight of the fact that this good moment of Xtz It occurs in a favorable context for cryptocurrencies.

This occurs for two reasons. First because macroeconomic conditions favor risk assets, such as actions and cryptocurrencies. When the global economy remains stable, financial speculators choose to place their holdings in these assets to obtain higher profits, as Cryptonotics explained.

On the other hand, we must mention the fact that Bitcoin (BTC) remains above $ 118,0003% below their $ 123,000 AT.

When the currency created by Satoshi Nakamoto has a good performance, optimism expands for the rest of the market and awakens the appetite for risk. This is beneficial for cryptocurrencies like Tazos.