Nomadic Labs has submitted a proposal for the 13th upgrade of the Tezos network.
XTZ continued its bull run as the price reversal was imminent at the time of writing.
On January 17, Nomadic Labs presented the 13th upgrade to the Tezos [XTM] network. The new upgrade includes several new features, including the ability to transfer tickets between accounts, a reduced block time of 15 seconds, and the addition of Epoxy on Mainnet.
Read Tezos’ [XTZ] Price Forecast 2023-24
The mainnet will further bolster instant finality, thanks to the proof of validity of SNARKs. Additionally, two new RPC endpoints are added for better visibility into ticket ownership.
The 13th upgradeknown as the Mumbai protocol upgrade, will be implemented after several tests. Upgrading the system should bring it closer to Tezos’ goal of one million transactions per second, as stated in Nomadic Labs’ report.
Doing so may increase interest in the network and, in turn, the value of its native token, XTZ.
The Tezos volume is seeing a lower number, but developer activity is increasing
According to the volume measurement recorded on Santiment, Tezos failed to reach 100 million transactions in the previous six months, although January 2023 recorded greater volume than November and December 2022. At the time of writing, the volume was around 24 million.
However, an evaluation of the network’s developer activity showed a significant increase. The development activity indicator had reached its highest level in the past six months. At the time of writing, it stood at 1.86.
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XTZ in a daily time frame
According to the daily timetable chart, XTZ was on a bull run at the time of writing. The asset had grown 45% from the start of the rally in December 2022. At the time of writing, XTZ was down 1% and trading in the $1.00 area.
In addition, the asset had moved into overbought territory along the Relative Strength Index (RSI) line. A likely price reversal was also indicated by the RSI line above 70, alongside a bull trend.
This post Tezos Gears Up for Mumbai Upgrade: Will XTZ Continue Its Bull Run?
was published first on https://ambcrypto.com/tezos-gears-up-for-mumbai-upgrade-will-xtz-continue-its-bull-run/