XTZ Price Under Pressure Despite Network Upgrade, Mumbai Protocol Update

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• Tezos released the Octez v16.1 update for the Mumbai protocol to correct an implementation flaw in the new baker binary.
• The Baking Sheet also highlighted updates related to TzKT Explorer and Serokell partnering with Tezos Foundation.
• Despite these developments, XTZ was down by 8% over the last week, with bearish advantages seen in its daily chart.

Tezos Launches Octez v16.1 Update

Tezos released a new network upgrade named Octez v16.1 for the Mumbai protocol in order to fix an implementation flaw in its new baker binary that could potentially affect network liveness. This update is expected to be activated on block 3,268,609 before Mumbai protocol goes live.

TzKT Explorer and Serokell Partnership

The Baking Sheet report also mentioned updates related to TzKT Explorer which came with support for Smart Optimistic Rollups, non-voted bakers during voting periods and more features. Additionally, a partnership between Tezos Foundation and software development company Serokell was announced to focus on popular tools and libraries within the Tezos ecosystem.

XTZ Price Performance

Despite these positive developments in the ecosystem, XTZ’s price failed to respond as it was down by 8% over the last week according to CoinMarketCap data at press time. Its daily chart suggested a bearish advantage with MACD displaying a bearish crossover while CMF and RSI went sideways indicating less volatile days ahead in the near term.

Value of 1,10 & 100 XTZs

At press time, 1 XTZ was trading at $1.12 with market cap of $1.045 billion hence making 1 XTZ worth $1 12 USD approximately . The value of 10 & 100 XTZs would be calculated accordingly i e 10 times & 100 times respectively so that is 10 XTS = 11 20 USD & 100 XTZ = 112 00 USD respectively


On-chain metrics looked relatively fine but investors can expect few sluggish days ahead considering bearish advantages seen in its daily chart indicators like MACD , CMF , RSI etc .