Why XTZ failed to put up a bold front despite Tezos' striking performance

Data from Messari stated that Tezos' Q2 performance continued to impress, however, with some roadblocks. Despite a satisfactory quarter, XTZ stood loyal to the bears and decided to opt for another route.

Timeline of Tezos

According to a recent report by crypto research firm Messari, Tezos has been progressing in its roadmap development, with several new features and upgrades being introduced to the network. The platform's core developers have announced a strategic shift to hybrid optimistic/zk rollups, with multiple teams committed to building rollups that will enable the platform to process more transactions per second (TPS) and enhance scalability.

The Tezos (XTZ) price has created a long-term bullish pattern inside a crucial horizontal support area. While the pattern is intact, it has not been confirmed by the short-term movement yet.

Tezos (XTZ) price had dropped after the ‘Nairobi' Upgrade, which traders thought would add to the bullish momentum that the token enjoyed for the last seven days. Tezos has declined by about 2% today eating into its 11% gain over the past week.

Tezos, the innovative self-amending proof-of-stake blockchain and strong competitor of Ethereum, recently announced the implementation of its 14th network upgrade, dubbed Nairobi. The upgrade comes with several major enhancements intended to improve user experience and network performance.

Tezos, the self-amending proof-of-stake blockchain, and an Ethereum competitor, recently implemented its latest upgrade via Nairobi. In a release, the 14th network improvement went live at block #3,760,129, tagging along platform enhancement and the simultaneous unveiling of the Tezos Ecosystem DAO.

Tezos price analysis is bearish as the cryptocurrency has experienced a fluctuating movement in the past few days. Despite the bulls' persistent attempts to rally the market, their efforts have proven futile as the value of the coin has decreased from $0.982 on May 7th, 2023 to a ceiling of $0.923.

Tezos announced its next major network protocol proposal weeks after activating the Mumbai Protocol. The Nairobi Protocol will add several new features that can help the network in terms of growth.

Tezos [XTZ] registered a massive boost in its social engagement on 2 April 2023 as the metric exceeded the 26 million mark. The primary reason fueling this surge can be Tezos' latest Mumbai Protocol upgrade, which got activated a few days ago.

Tezos, a self-amending proof-of-stake blockchain, has activated its 13th core protocol upgrade, Mumbai, introducing Smart Rollups, a Layer-2 scaling solution, for faster transaction processing speeds.

Tezos (XTZ) has announced that its Mumbai upgrade is now live, bringing many improvements to the blockchain network, including higher scalability, support for general-purpose programming languages, and more.