Flow

Tezos

Arbitrum

Flash

Optimism

<ul>
 <li>Tezos (XTZ) continues its bearish run as it has declined by 29% from year to date and 4% in the last seven days.&nbsp;</li>
 <li>According to analysts, bulls are seeking to send the price to $0.94, however, failure to do this could cause another downward trend to $0.6.&nbsp;</li>
</ul>
<a href="https://www.crypto-news-flash.com/what-is-tezos-a-serious-challenger-for-ethereum/" target="_blank" rel="noopener noreferrer nofollow">Tezos (XTZ)</a> witnesses a bearish extension, dragging the asset down the price curve as bulls struggle to seize control. According to our market data, XTZ has declined by 4% in the last seven days, extending its year-to-date fall to 29%. At press time, the asset was trading at $0.77 following a 55% decline in its 24-hour trading volume.
Regardless, investors keep accumulating the asset as the Chaikin Money Flow (CMF) indicator confirms a significant increase in inflows. <a href="https://beincrypto.com/tezos-xtz-consolidation-price-bulls-bears/" target="_blank" rel="noopener noreferrer nofollow">According to analysts</a>, increased buying pressure indicates a growing confidence and has a direct correlation with price movement. However, the funding rate of the asset keeps fluctuating between the positive and the negative territory. Per our investigation, this kind of volatility usually hints at a lack of consensus among investors with regard to the short-term direction of the asset.&nbsp;
Generally, positive funding rates provide a hint at long contracts dominating the market. On the other hand, negative funding rates also indicate the dominance of short contracts. With the mixed signals of XTZ, there is an ongoing consolidation as the price remains restricted within the range of $0.76 and $0.87. However, a breakout or breakdown would certainly invalidate the bullish neutral position. According to analysts, XTZ could reach $0.94 once bulls successfully seize control from bears. Any failure attempt could send the price down to $0.6.&nbsp;
<h3 id="strong-tezos-xtz-announces-16th-upgrade-strong">Tezos (XTZ) Announces 16th Upgrade</h3>
Outside the framework of the price analysis, developers have actively been working to position Tezos among the leading blockchains as its 16th upgrade recently went live on the mainnet to reduce block finality times to just 10 seconds. <a href="https://www.crypto-news-flash.com/tezos-implements-mumbai-upgrade-allowing-over-1-million-transactions-per-second-xtz-eyes-ath/" target="_blank" rel="noopener noreferrer nofollow">According to a Crypto News Flash report</a>, the upgrade was facilitated to maintain low transaction fees across the Ethereum Virtual Machine-compatible L2 network Etherlink. Truly, Etherlink is reported to have now become cheaper than Arbitrum and Optimism after the upgrade.&nbsp;
Arthur Breitman, co-founder of Tezos commented on this:
<blockquote>
 Thanks to the Paris upgrade, Etherlink users will enjoy an improved UX: L2 time to finality will be on par with Arbitrum One and Optimism’s, but L1 publication latency will be (even) better.
</blockquote>
Currently, Etherlink has a 500-millisecond transaction finality time. In addition to that, data posted on the main Layer 1 is done in around 10 seconds. Meanwhile, it would take two minutes on Optimism and seven minutes on Arbitrum One. Regardless, Arbitrum One and Optimism are still two of the largest <a href="https://www.crypto-news-flash.com/what-is-ethereum-history-and-beginners-guide/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> L2s in terms of Total Value Locked. Arbitrum One has a TVL of $19.2 billion and Optimism has a TVL of $7.8 billion.&nbsp;
One of the key features of the Tezos upgrade is the newly introduced Data Availability Layer (DAL) which is meant to enable Tezos’ Smart Rollups to scale to support millions of TPS in the future. In July 2023, the Tezos rollup reached one million TPS. Its incredible impact was confirmed by Breitman.&nbsp;
<blockquote>
 This feat was achieved by exploiting horizontal scaling capabilities (1,000 rollup nodes running in parallel at 1,000 TPS each). The Paris upgrade activates the Data Availability Layer (DAL) on mainnet, boosting by several orders of magnitude the capacity of Tezos L1 to attest the publication of rollup data.
</blockquote>

Tezos (XTZ) Battles Market Bears, Sees Price Rebound from $0.71 Lows

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