Whether the causes are cyclical (the true-fake raid by the Chinese police in the absence of Chinese premises in Binance) or more fundamental, the observation is obvious: the market has seen red for weeks, and downright scarlet since Friday.
More than 50 billion dollars have evaporated in a few dozen days in the limbo of ill-advised investment. Bitcoin (BTC) loses 30% in 1 month and the boss embarked in his fall almost all the other assets of the crypto Market Cap.
All other assets? Not quite, since the Franco-Swiss project Tezos (XTZ) seems to have decided to ignore the ambient disaster, by displaying an insolent form. Until when ?
It is probably a little too early to understand the real reasons, but we must admit that since the burst of elation at the end of October and the 42% explosion in Bitcoin price in response to Chinese President’s statements Xi Jinping, everyone has taken a good hit.
Indeed, the last 30 days have essentially consisted of a slow but clear deterioration in the price, seeing the value of a Bitcoin pass by almost 9,000 euros on October 26 just under 6,500 euros at the time of this writing.
And vermilion cherry on this big sickening red cake, the semi-fake-news on Friday concerning a supposed raid by the Chinese police on the premises of Binance in Shanghai.
In the end, a good fat -30% which, failing to really traumatize the old crypts of crypto which we have seen others, still leaves an old taste of earth and roots in the mouth …
Our beloved crypto market having no personality, it is the whole of the MarketCap which in concert and by a well-placed solidarity, lost 50 billion in 30 days. Like that, for no reason. Pouf.
… Laughing Tezos
Except that here, as evolving in a parallel dimension, certain projects behave however as if they were not irrational particles in a market without the slightest sense. Now, in recent weeks if there is indeed a value that seems to be animated by a life of its own, this is the Tezos project.
Indeed, with an increase in its value almost 100%, passing 0.68 cts end of October at 1.22 euros in a few weeks, Tezos represents a breath of fresh air in an atmosphere saturated with sulfur.
There are many reasons for this good health. We can obviously recall the solidity of this project in which some discern the future outsider of‘Ethereum (we will come back to this soon as part of a special file).
But what is perhaps the secret of the vitality of Tezos is the quality of the partnerships that the creation of the couple Arthur and Kathleen Breitman multiplies these times.
Bitcoin echoed the latest to the start of the week: the announcement by the services of‘Cyber investigations by the French Gendarmerie of using the 3rd generation blockchain Tezos for tracking expenses.
We must indeed weigh the impact of this event, which may have gone relatively unnoticed in the daily information maelstrom: For the first time, a Sovereign ministry highlights the deployment of blockchain solutions, as part of its missions …and it’s not Ethereum ! (discarded as part of the pre-project reflection).
A success in this function for the benefit of the Gendarmerie, and it is a continent of possibilities that will open up in all of the State services, including on a European scale. As such, if this announcement seems modest, it could in fact prove to be founding, which seems not to have escaped the market.
Difficult not to discern in Tezos one of the few crypto projects intended to grow and last, even though, by general consensus, 95% of the industry is promised to a very Darwinian selection (I am not drawing you).
To further confirm the thesis of this modest article, it was possible to learn that Tezos had just signed a new agreement with the Tribe platform, supported by the Singapore government (more information to follow).
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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