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• Tezos’s blockchain-enabled voting system Electis is gaining traction

• The native token XTZ has surged by 8% within the final one week

• Tezos stays on a transparent uptrend making increased costs attenable

Tezos XTZ/USD just isn’t the highest gainer within the final week. However, it’s amongst people who have retained gains, with no less than an 8% surge in seven days. Expectations of development of the utility of the blockchain’s native token are triggering the surge. 

Tezos has had no vital information currently. However, optimism is rising across the blockchain’s e-voting system Electis. The encrypted and totally nameless blockchain-enabled e-voting system has been adopted extensively. Over 20,000 votes have been utilizing the voting system because it was launched. 

Recently, on July 15, Electis introduced that three our bodies of the United Nations have began utilizing the voting system. The organizations embrace YOUNGO, DG7 Youth Constituency, and the Women and Gender Constituency. The adoption cements Tezos as a blockchain of the long run. While there are quite a few use instances to be explored, these optimistic developments might gasoline the gains.

Tezos maintains a transparent uptrend above help

Source – TradingView

From the technical outlook, Tezos trades above a help zone at $1.6. The token is pushing increased from the 21-day transferring common. The token can be supported by the 50-day transferring common. The MACD indicator exhibits a powerful bullish momentum constructing.

We anticipate the present bullish momentum in Tezos to be sustained. Short corrections to the help are nonetheless potential and provide shopping for alternatives. The token will face resistance at $2.2. If the extent is efficiently cleared, the following zone to observe is $2.9.

Concluding ideas

Tezos token stays on an uptrend after reclaiming the $1.6 help. The token will rise to $2.2, the place it faces main resistance. Investors ought to reap the benefits of any short-term retracements.