NFT Tezos keep pace for fourth consecutive quarter as XTZ…

NFT Tezos keep pace for fourth consecutive quarter as XTZ…

  • Tezos NFT Traders Kept Blockchain Digital Collectibles Alive With All-Time High By Volume
  • XTZ price hasn’t been impressive lately and could stay so great that the broader market is rallying

Tezos [XZT] NFTs maintained their strong performance despite the decline in the overall digital collectibles market. According Messarithe third quarter (Q3) of 2022 was the sixth consecutive quarter that Tezos had put on a big show.

In fact, NFT traders using the Tezoz blockchain drove sales volume to an all-time high above 80,000 during the period. Also, another interesting fact is that this increase in volume required the activity of a reduced number of traders.

Tezos NFT Data

Spruce: Messari

Lily Tezos [XTZ] price prediction 2023-2024

However, a recent trend shown by Tezos reflected a decrease in interest in non-fungible assets via blockchain. At press time, the total NFT trading volume was $151,000.

This value was a monument lessen from highs recorded on September 29 when volume reached $5.64 million. This implied that there was a possibility of not matching the performance of the last six quarters with XTZ trading at $0.948.

On-Chain Tezos NFT Volumes

Source: Santiment

What is the status of the XTZ price?

Even though Tezos maintained a quarter-over-quarter (QoQ) NFT increase, the same was not true for the price of XTZ. According CoinMarketCap, the value of XTZ had decreased by 15.65% in the last thirty days. More recently, it has also failed to improve over the past 24 hours following the broader market decline.

The XTZ/USD four-hour chart showed that there was almost no near-term recovery. This inference was due to the positions displayed by the Moving Average Convergence Divergence (MACD). Otherwise, At the time of this writing, the momentum of buyers (blue) and sellers (orange) was below the zero point of the histogram.

Additionally, sellers also seemed to have more control than buyers. Therefore, XTZ could possibly lose more of its current value, as this reflected bearish momentum. Additionally, the Awesome Oscillator (AO) reported a similar state at 0.024. Since the AO was also below the zero point, this meant that the edge of XTZ was bearish.

Price of Tezos (XTZ)

Source: Trading View

Confidence abounds, fear

Despite the continued decline in prices, XTZ investors seemed to remain positive. This was demonstrated by the sentiment displayed by the community. According to Santiment, the positive sentiment of XTZ prevailed the negative with a ratio of 2.125 to 1.875.

Therefore, this implied that the perception of investors was optimistic towards XTZ. This status was also reflected in his social dominance which had climbed to 0.298%. This stance meant that Tezos made up a good chunk of discussion and research volumes.

So, regardless of the price, XTZ might still have a good chance of massive accumulation.

Positive and negative sentiment of Tezos

Source: Santiment

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