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The Tezos Price Has Bounced Back, Rising 10% In 24 Hours

tezos

Meet Tezos (XTZ) – a cryptocurrency which launched one year ago (July 2017) with the promise of being the first “self-amending” cryptocurrency.

During the past 24 hours, the price of Tezos rose by 10% which is an obvious sign that the altcoin is recovering from some recent setback. The bump today could also see the price of Tezos rise again and stabilize.

However, the surge of Tezos (XTZ) was mainly because the altcoin and its internal disputes and class action lawsuits related to its ICO which raised $232 million.

Tezos went from $1.56 to $1.90 in a single day and then went to $2.07 on July 28th before slumping to $1.56 again. Since then, the price of Tezos has been improving and is right now sitting at $1.90 (at press time).

Right now, the cryptocurrency’s fortunes suffered from some conflicts within the Tezos organization and several class-action lawsuits making people believe that the token was a security. Even though the fall made it one of the biggest losers in the last year, it seems like Tezos is recovering really well.

Most of the good news for Tezos come from PwC (PriceWaterhouseCoopers) and their agreement to audit the Tezos Foundation’s finances and enable the foundation to operate with integrity. This would mark the first time a “big four” auditor agreed to audit a large blockchain organization. In other words, it is a sign that the financial service industry is going more and more in line with (the growth of) cryptocurrencies.