According to BitcoinCasinos.com, the platform’s native token, XTZ, has seen a 56% quarter-over-quarter surge in its circulating market cap, now exceeding $1B. This growth is attributed to the platform’s innovative features and successful partnerships.
BitcoinCasino’s Financial expert Edith Reads commented on the findings saying, “The platform’s Liquid Proof of Stake consensus algorithm has enabled it to become one of the most energy-efficient networks on the market. This approach helps reduce the energy costs associated with running a blockchain network and helps maintain Tezos’ decentralized nature. Additionally, its on-chain governance feature allows for democratic decision-making regarding amending protocol parameters or deploying new features.”
The increase in Tezos’ market cap can be attributed to several factors. For starters, the platform’s popularity has been on the rise due to its unique approach to governance. Unlike other blockchain platforms, Tezos allows its users to vote on changes to the protocol, giving them a voice in the platform’s evolution. This approach has resonated with many in the crypto community, leading to increased platform adoption. The full story and statistics can be found here: Tezos’ Q1’23 Circulating Market Cap Surges 56% QoQ To Surpass The $1B Mark