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The host of popular crypto channel Coin Bureau is exploring if veteran altcoin Tezos (XTZ) has what it takes to recapture previous all-time highs during the current bull run.<\/p>\n
In a new video, the analyst known as Guy tells<\/a> his 1.84 million YouTube subscribers that the Ethereum (ETH) competitor\u2019s built-in adaptability is key to its long-term prospects.<\/p>\n \u201cTezos is one of the few cryptocurrencies that has been explicitly designed to evolve so that it may not only survive but thrive\u2026<\/em><\/p>\n Tezos is on track to become one of the top cryptocurrencies.\u201d<\/em><\/p>\n Tezos was first proposed in 2014 and native token XTZ launched in 2018. According to the project website<\/a>, Tezos values both design and governance as keys to ensuring success.<\/p>\n \u201cTezos is an open-source platform that addresses key barriers facing blockchain adoption for assets and applications backed by a global community of validators, researchers, and builders.<\/em><\/p>\n By design, Tezos embraces long-term upgradability, open participation, collaboration, and smart contract safety.\u201d<\/em><\/p>\n The Coin Bureau host notes that the price of XTZ still remains undervalued after three years, especially in relation to how Bitcoin<\/a> (BTC) and Ethereum<\/a> have done over the same period of time.<\/p>\n \u201cXTZ hasn\u2019t performed all that well compared to most other cryptocurrencies\u2026 only up about 10x. If ICO [initial coin offering] participants had held onto [their] BTC and ETH instead, they\u2019d be up almost 20x.<\/em><\/p>\n It\u2019s safe to say that the Tezos Foundation is aware of the store-of-value properties of BTC. <\/em><\/p>\n Put simply, it\u2019s likely the Tezos Foundation is getting a substantial amount of money from sales of XTZ whether from initial allocation, from staking and delegation rewards, or both.<\/em><\/p>\n The supposed selling by these and other entities such as institutional investors is probably why XTZ\u2019s price has been suppressed since the start with few exceptions.\u201d<\/em><\/p>\n Guy goes on to mention several significant corporate partnerships which have given XTZ\u2019s price a boost, including with game developer Ubisoft last April and Red Bull\u2019s Formula 1 racing team in May. The music-focused non-fungible token (NFT) marketplace OneOf was built on Tezos and raised over $60 million in capital last year.<\/p>\n The YouTube host concludes his XTZ analysis with a price prediction.<\/p>\n \u201cAs poor as XTZ\u2019s price action has been, there\u2019s no denying that its institutional partnerships are pretty impressive.<\/em><\/p>\n These partnerships, as well as Tezos\u2019s continued upgrades and new DApps [decentralized applications], are starting to create some serious demand for XTZ.<\/em><\/p>\n This can clearly be seen in the positive price trend it\u2019s been in since the previous bear market. If this momentum keeps up, I wager we could see XTZ retest its previous all-time high of $10 before the bull market is over.\u201d<\/em><\/p>\n At time of writing, Tezos<\/a> is down 4.76% to $4.26. It began 2022 at around $4.50 and surged to as high as $5.31 before sliding back on Wednesday.<\/p>\n