Ethereum, Tezos and Tron: Crypto Overview
Ethereum, Tezos and Tron are losing ground despite positive news from their respective crypto assets.
Crypto Analysis: Ethereum (ETH), Tezos (XTZ) and Tron (TRX)
Ethereum, Tezos and Tron are experiencing a pullback, in line with the general market trend of the past few days.
Ethereum (ETH) is falling, as are the rest of crypto assets, including Tezos and Tron
The price of ETH, the second largest crypto by market capitalization, fell 5% points in the last week and today stands at €1469.18 (-0.26%).
The month of March has just entered and the fork fever is rising, as another update is expected this month, which goes by the name of Shanghai.
Compared to before, it will now be possible to use staked Ethereum on the Beacon Chain.
Paradoxically, for the value trend of the virtual currency, this could be a blow.
In theory, the more the supply of Ethereum in circulation goes up, the more the price should go down, but according to most analysts, this will not be the case.
Markets are buzzing about the new update and the boost it could bring to ETH.
As of today, there are 16.1 million ETH on the Beacon chain, just over 10% of the total circulation.
Not all Ethereum will be released back into the market at the same time, but it is expected that a good tranche will be unlocked right away.
According to experts, Ethereum’s Shanghai update, originally expected on March 14, has been postponed until April.
Tezos (XTZ)
The price of XTZ is trading at €1.04, down 2.41% in the last 24 hours.
The token does not seem to be able to recover the levels of the previous high set at €12.00, stopping 90% from it.
Despite not being reflected in the token’s value, it would be positive news for Tezos.
Google (NASDAQ:GOOGL) announced that its Cloud computing arm has signed a partnership with Tezos for Web3.
Essentially, Google will be a validator on Tezos’ blockchain
The partnership was also announced by the Tezos Foundation on February 22, explaining that the agreement has two functions.
The purpose of the partnership is to allow those who are already Google customers to deploy Tezos nodes and also be able to build Web3 apps on the Tezos blockchain.
Tezos is a blockchain based on smart contracts with which a dApp is brought to life.
In addition to partnering with Google, Tezos has also entered into agreements with Ubisoft and the California Department of Motor Vehicles.
Recently, good news also comes from BitPanda, which supports XTZ with the XTZ/EUR and tzBTC/BTC pairs.
The company has been chosen as the premier platform by several creators in the NFT world due to its low cost and energy efficiency.
At Art Basel in Miami Beach in December there will be an NFT exhibition with Tezos and this will be a big driver for the token.
Those who visit the exhibition will be able to create a “generative self-portrait” with artificial intelligence that will become a real NFT, plus they will be able to take part in lectures and speeches on the topic.
Miami and Florida officially become a candidate hub for the crypto world, and they do so by connecting to Tezos as well, expanding the consensus more and more.
Tron (TRX)
The price of TRX fell 4% in the last week and today is no different registering a loss of 0.80%.
The TRX token today is worth €0.063 with a circulating supply of 91,369,466,247,491 TRX.
TRX is the symbol of TRON, a blockchain that aims to form a decentralized Internet.
Important news for Tron comes from Tether, which is the largest issuer of stablecoins.
Essentially, Tether has also put the Offshore Chinese Yuan (CNHT) on the Tron network.
CNHT will be available on the blockchain and Bitfinex will allow trading and storage of the new virtual Yuan.
The blockchain founded by Justin Sun nine years ago arose with the aim of generating a decentralized platform where creators own intellectual property.
TRON (TRX) has been the platform’s trading currency since its debut year in 2018, where it grew remarkably (10,000% in just three months) and then returned to more normal levels.
