Tezos: Where will XTZ go after the Kathmandu upgrade goes live
Proof-of-stake (PoS)-based blockchain Tezos [XTZ] has upgraded a protocol on its mainnet. The update, called Kathmandu, was first suggested to the Tezos community in July and is the 11th time an update has been made.
Following the proposal created by Nomadic Labs and six others, Kathmandu aims to scale the Layer-One (L1) protocol. Also, the pipeline validation challenge and testnet governance issues will be a thing of the past.
Prior to the upgrade, Tezos co-founder Kathleen Breitman spoke with Bloomberg's Emily Change about the upgrade. Updating more than ten times is not a problem for the Tezos network, she said, because the protocol was developed to update itself.
Start from the bottom; now we stand still
Since activating the update, XTZ seems to have had a positive response. According to CoinMarketCap , the security-focused internet's native token of the future has gained 4.15% in the past 24 hours. At the time of writing, XTZ is trading at $1.52.
As for its development activity, Tezos is expected to grow. Online chain analysis platform, Santiment , has revealed development activity on the blockchain of 0.75.
Checking their network activity, Messari shows that the transaction volume has dropped to $9.68 million. Before current values, XTZ trading volume was as high as $17.30 million seven days ago.
As for the number of XTZ addresses, the crypto data library indicates that it is getting closer to more funds. The crypto intelligence platform reported that addresses holding more than $10,000 of XTZ have dropped to 8,420. Those with XTZ of $100,000 or more are also reduced to 1,490. However, addresses with few Tezos units are on the rise.
According to data from the Decentralized Finance (DeFi) ecosystem, XTZ has not made any progress. DeFiLlama shows Tezos' total locked value (TVL) at $24.65 million. The current value has decreased by 2.21% from the previous day's value.
DeFi Llama also reports that Tezos' liquidity dominance is currently 69.12%. This shows that asset holders have earned more incentives in their liquidity protocol.
Sep 25, 2022