The Tezos project remains a mystery, with holders still awaiting a price breakthrough and possibly a significant rise from the current depressed levels.
The lack of news has dragged XTZ down in terms of BTC prices, from north of 31,000 to about 25,000 Satoshi in the past week alone. The rally in BTC prices has created a spike in dollar terms, but XTZ remains stagnant at around $2.07.
The project is still resolving internal issues, and new exchange listings and marketing are not the focus of its efforts. The latest development around the much-awaited project is an audit assigned to Price Waterhouse Cooper (PwC), whose Swiss unit will be the new auditor of the Tezos venture. This is adding to the generally positive attitude of the Tezos community:
The auditors will exclusively track the finances of the Tezos Foundation, as mentioned in a recent blog:
“The Foundation is the first large-scale blockchain organization to be accepted as an audit client of one of the ‘Big Four.’”
For users, however, owning and baking XTZ may not be so straightforward. While there are several wallets, they are not all tested for reliability. Using the Ledger wallet is one option to achieve “baking” (a form of staking on the Tezos network) although it also has its technical challenges:
However, the biggest drawback for Tezos is its limited exchange exposure. The addition to Gate.IO, which now hosts the majority of trades, provided a boost to volumes, but XTZ remains limited. However, the asset is also seeing an inflow of Tether (USDT) as the pair makes up to 22% of all activity, according to data by CoinMarketCap.
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