Why Ethereum, Tezos, and FTX Are Soaring This Week

Ethereum (CRYPTO: ETH), Tezos (CRYPTO: XTZ), and FTX (CRYPTO: FTT) are up 21.28%, 7.97%, and 29.12%, respectively, in the past seven days as of 10:42 a.m. EDT Saturday. They are now trading at $3,906.82, $5.45, and $63.38 apiece, respectively. 

Ethereum is gaining a lot of traction in both the non-fungible token (NFT) industry and the decentralized applications (dapps) industry. But its competitor Tezos is rapidly catching up. On Sept. 2, EQIFI, a unified platform for decentralized finance (DeFi) products, selected Tezos as the platform of choice for developing regulatory-compliant DeFi solutions. Its first step was the launch of borrowing and lending services on the Tezos protocol. 

Lastly, FTX tokens are surging after the namesake exchange acquired LedgerX, a Commodity Futures Trading Commission-regulated digital currency futures and options exchange. The move will enable FTX to offer such financial products to U.S. investors. 

Continue reading

Source Fool.com