Tezos price prediction 2022: Can the XTZ crypto reach $10?

TEZOS has mainly rallied in the past couple of weeks or so despite it being down slightly Friday.

In the past 24 hours, the cryptocurrency has dropped 2% to $4.30, according to CoinMarketCap.

But in the past week, Tezos has gained 10%.

It was reported last week by The Athletic that Tezos struck a multi sponsorship with Manchester United, which is said to be the richest soccer team in the world.

Under the deal worth more than $27million per year, Tezos can place its logo on Manchester’s training uniform.

While the team confirmed the news on Thursday, it did not have a significant impact on Tezos’ price.

Likewise, the old adage “buy the rumor sell the news” applies here.

In addition, Manchester said the partnership will include “several new fan experiences built on the Tezos blockchain.”

Previously, Tezos partnered with French video game maker Ubisoft in December.

The video game maker launched a platform called Ubisoft Quartz, in which users could obtain non-fungible tokens in regards to in-game items.

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Marko Flanagan, financial analyst at crypto website YouHodler, told The Sun that “other game developers may very well select Tezos for their own in-game item management if the blockchain network and its token can handle Ubisoft’s requirements”.

But before you invest in cryptocurrencies like Tezos – make sure you understand the risks.

The main risk of cryptocurrencies is the extreme volatility that occurs in the industry.

This means your assets could either rise or plummet quickly without much news.

In Tezos’ case, it hit an all-time of $9.18 in October. However, its price is still down significantly from that point despite the solid gains as of late.

You should also never invest more than you can afford to lose or into anything you don’t understand.

What is Tezos?

Aside from its new partnerships, some may wonder what Tezos is and what’s so special about it.

The cryptocurrency prioritizes “safety and code correctness” by leveraging languages including OCaml and Michelson.

These specifically facilitate formal verification.

Also, Tezos likes to separate itself from other major cryptocurrencies including Bitcoin and Ethereum, which use a proof-of-work blockchain.

“Tezos’ Proof-of-Stake requires significantly less energy and cost to operate, making it an ideal alternative platform for building blockchain applications that are eco-friendly,” the cryptocurrency claims. 

In fact, Ubisoft’s blockchain chief, Didier Genevois said it chose Tezos in part because of its proof-of-stake system. 

Another unique element of Tezos is its governance. Instead of relying on mining communities and development teams, Tezos aims to let its users help it make decisions.

Users can propose, evaluate, and even approve amendments to Tezos.

Currently, Tezos is ranked 40 in terms of market capitalization for cryptocurrencies, which is nearly $3.8billion.

Tezos price predictions

Given the recent gains, some are wondering if they will continue following the partnerships , or if it will go back to volatility.

Marie Tatibouet, chief marketing officer of crypto exchange Gate.io said in December: “If the surge continues then I see Tezos touch $6.50.”

“If the market overall resurges again, then there is no reason why XTZ won’t chart a new all-time high,” she added.

But the crypto market has unfortunately been met with quite a bit of volatility this year.

This in part due to Russia’s proposal to ban on cryptocurrency trades and mining, which was recently announced.

Also, cryptocurrencies along with the stock market have suffered as the Federal Reserve mulls hiking interest rates up to four times this year.

Meanwhile, price prediction websites have made forecasts.

In a year from now, Wallet Investor sees the price reaching $5.708. Then in five years, it predicts Tezos’ price will triple to $12.626.

Coin Price Forecast forecasts the price will hit $6.13 at the end of the year and $16.32 at the end of 2026.

However, Coin Price Forecast expects Tezos to see heavy volatility after that. By the end of 2033, it expects the price to drop to $13.12.

But make sure you keep in mind that price forecasts could change if more bullish or bearish trends occur.

We’ve done price predictions for MANA, Bitcoin, Ethereum, Dogecoin, Shiba Inu, dYdX, EOS, Saitama, Loopring, Ethereum Name Service, DogeZilla, Aave, GYEN, Hamster Coin, and Sandbox.

Also, check out four things you need to know about Dogecoin.