Why are Ethereum, Tezos, and FTX surging this week?

What occurred was as follows: What occurred was as follows:

Tezos (CRYPTO: XTZ) and FTX (CRYPTO: FTT) are up 21.28 percent, 7.97 percent, and 29.12 percent, respectively, during the past seven days, according to the data from EDT (CRYPTO: ETH) Saturday.

They are currently going for $3,906,82, $5,45, and $63,38, respectively. Ethereum is gaining significant traction in the non-fungible token (NFT) and decentralized applications (apps) industries, among other things. Tezos, a rival, on the other hand, is quick to catch up.

According to EQIFI, which operates a single platform for Defi goods, Tezos was chosen as the platform of choice for developing DeFi-compliant regulatory solutions on September 2. Beginning with the introduction of Tezos-based credit and lending services, the movement gained momentum.

After everything is said and done, the value of FTX tokens increases as a result of the acquisition of LedgerX, which includes a digital currency futures exchange authorized by the Commodity Futures Trading Commission as well as a trading platform for option contracts. This decision enables FTX to offer these financial products to investors in the United States.

What’s the big deal?

Investors have grown increasingly aware of the tax advantages of NFTs, as evidenced by the fact that their trading volume on the Ethereum exchange opensea.io exceeded $1.78 billion just the week prior.

Furthermore, roughly 2,840 decentralized applications (dapps) are now being developed and deployed on the Ethereum blockchain. Most popular are borrowing and leasing systems, which allow users to subscribe to their ETH and get a consistent asset loan to pay daily expenses as their assets grow.

Chainlink has also been included in the Ethereum network by the Optimism Foundation, a non-profit organization dedicated to the scaling of the Ethereum blockchain. Through smart access to real-time data streams and events, the move elevates smart functionality to an entirely new level.

Tezos partners include Alliance, a well-known real estate developer based in Manchester, United Kingdom, which has used the network to match a total of 500 million pounds in value between two parties (in ownership certificates). The network is primarily concerned with the creation of digital securities, payment systems, and decentralized exchange protocols.

In terms of market capitalization, it is now valued at 4.85 billion US dollars. Tezos is an intelligent contract token in the same vein as Ethereum, with the added feature of allowing users to vote on protocol modifications proposed by the developers.

Last but not least, keep in mind that FTX is presently the third-largest cryptocurrency exchange in the world. However, due to the unique structure of financial rules in the United States, the platform was unable to provide the same types of Bitcoin derivatives to its international customers.

The acquisition of LedgerX has the potential to alter the game. FTX.com has achieved a volume of more than $15 billion in the last 24 hours, but FTX.us has only achieved a volume of $271.8 million. The FTX tokens are used as collateral for the exchange’s margin trading activities.

What’s the next stage in this process?

It may be difficult to imagine now, but only a year ago, the DeFi protocols were almost unknown to the general public. They then rose in value to a market capitalization of around $162.6 billion. Regardless of the inability to regulate, the absence of regulation has unavoidably fueled the emergence of new ideas in this country of origin.

The integration of encryption with smart contracts has also served as a stabilizer, allowing the establishment of confidence in peer-to-peer networks that are otherwise unstable to take root and flourish. With the help of these incredible tokens, you can keep an eye on future developments.

Gregoire Blanchard

Author: Gregoire Blanchard

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