Tezos: Is Mumbai’s Upgrade the only Reason Behind XTZ’s Price Rise? 

Tezos [XTZ] highlighted various significant updates that occurred in its ecosystem during the previous few days in the 134th issue of The Baking Sheet. The most visible was the Mumbai proposal, which had reached the vote stage.

The Mumbai plan will include a number of new features that will significantly increase the network’s capabilities and services. The upgrade, for example, will lower the block time to 15 seconds.

This reduction in time will be accomplished by fully deploying better pipelining. Furthermore, in Mumbai, tickets can be transferred across user accounts rather than only smart contracts and rollups.

NFT collectors and painters who want to secure their collections and artworks use Ledger hardware wallets. Because of Objkt integration, Tezos NFTs will now be supported by the Ledger Live app.

Users can now safely examine their Tezos NFT collection with Ledger Live. Not only that, but growth in the Tezos NFT ecosystem has been observed in the recent week. According to Santiment’s chart, the total number of NFT deal counts and total trading volume in USD has increased in the recent few days.

XTZ’s price behavior has been in line with investor interest during the last week, with advances. According to CoinMarketCap, the price of XTZ has climbed by more than 8%, and as of press time, it was trading at $1.12 with a market capitalization of more than $1 billion.

XTZ’s development work has also intensified in recent weeks as a result of the planned modifications. Positive sentiments toward XTZ have remained quite consistent, indicating the community’s faith in the token.

Because its Binance funding rate was substantially higher, XTZ was in demand on the futures market. However, XTZ’s volatility has dropped dramatically in recent days, which may put an end to the token’s current rally.