Stablecoin Tether has announced the launch of USDT on the Tezos (XTZ) blockchain, thus allowing USDT after the Standard Ledger Protocol of Tezos (XTZ), Ethereum, Solana, Avalanche, Polygon, Algorand, Tron, Omni, EOS, Liquid Network, Kusama, and Bitcoin Cash. It was the 12th blockchain that would be available.
Besides, Tether said that the launch of USDT on Tezos (XTZ) will help the DeFi ecosystem of its blockchain network. According to another data, The Block's Data Dashboard, the supply of USDT decreased by 6 billion last month, as seen in the chart below.
So how did the technical data take shape after this development? When we look at the daily time frame, that is, the long-term period, it increased by about 10% during the day. In addition, we can see that it has continued to rise with rising bottoms along with the rising volume in the structure since May 12.
The price approached the $2.30 resistance area from its previous moves. With a voluminous break of this zone, the next resistance zone can be followed with the daily candle closing above $2.5 and $2.65, which was the support area before and now the resistance area Flip S/R.
Otherwise; A pullback to lower support levels can be seen in the closings below the $1.76 and $1.88 zone, which is both a trend area and an important demand zone. Both the positive progress of market metrics and the suppression of positive news by Tezos (XTZ) will be the trigger for the continuation of the rise.
Tezos (XTZ) price was $2.25 at the time of writing, while Tezos (XTZ)'s last 24-hour trading volume was $176,592,424, according to CoinGecko data. Tezos (XTZ) price is up 9.7% in the last 24 hours. Tezos hit an all-time high price of $9.12 on Oct 04, 2021.