Tezos (CCC:XTZ-USD) is a blockchain network that has come into favor with the broader crypto-investing crowd because it keeps moving forward. The developers are rolling out a flurry of updates this autumn about the state of the network. Meanwhile, the community keeps laying out robust proposals that stand to keep streamlining the network, allowing it to compete more and more every day with giants like Ethereum (CCC:ETH-USD). The XTZ coin is hitting all-time highs today, and as a result, investors are more fervent in seeking out Tezos price predictions.
The Tezos network behaves similarly to Ethereum in many ways: smart contract capabilities, non-fungible token (NFT) minting, high security. However, it aims to displace Ethereum as the industry leader in DeFi capabilities through its governance. The network allows for investors to create proposals and host votes on whether or not the proposals should be implemented on-chain. The hope is that the network will never require a hard fork, but rather, it can continue to match the will of the majority of its users with each upgrade.
This governance model has been quite successful for the Tezos community. Seven proposals have been made and passed, all of which contributed to the betterment of the chain. Most recently, August’s “Granada” upgrade saw gas fees slashed, and the time to complete a block was made vastly more efficient. Already, the community is preparing to vote on an eighth proposal, called “Hangzhou.”
Tezos Price Predictions Get Hot With New All-Time High
As Tezos continues to truck forward with upgrades, securing a larger following along the way, it is gathering a fair bit of capital and value for its XTZ coin. In fact, this morning, XTZ hit an all-time high of $9.18. Since then, the coin fell back down and is actually trading in the red as we head into the afternoon. Be that as it may, the coin is still flexing an ability to overtake resistance barriers. In the wake of the price momentum, investors are seeking out Tezos price predictions.
Let’s take a look at some price predictions for XTZ and see where the coin might be heading:
- WalletInvestor thinks XTZ will spend the next 12 months battling the $10 resistance level. By October of 2022, the site expects Tezos to surpass the milestone and reach a value of $10.02.
- Gov Capital is slightly more optimistic in their price target. Over the next 12 months, the site predicts XTZ to reach $10.86.
- DigitalCoin thinks another all-time high is in the cards for Tezos before the close of 2021. The site is forecasting a price of $9.88 for XTZ come December.
- The Economy Forecast Agency is one of the most bullish on the Tezos network. The site is targeting a price of $15.12 by the end of this year. By October of 2022, that price is predicted to swell to $21.90.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.