Bubble
Tezos XTZ
Tezos (XTZ) was trading at $0.2136, ranked #155 by market cap at $234.21M, with 24h volume of $9.01M.
Data snapshot: 2026-09-02 12:15 UTC.
Tezos is a proof-of-stake chain that upgrades itself: protocol changes are proposed, voted on by bakers and activated on-chain without a hard fork, a process it has used more than a dozen times since 2018. That self-amending design was its founding pitch, and its contracts are written in languages built for formal verification, which drew early adoption from art NFTs and regulated pilots in Europe. Tezos was designed so the protocol can upgrade itself: proposed changes are voted on by stakeholders on-chain and, if approved, activate automatically without a hard fork. That has let it change consensus and add rollups without the community splits that have divided other chains. Its contract language emphasises formal verification, which has appealed to institutional and art-market users. On a bubble map XTZ sits in the mid-cap end of the Layer 1 group, and its price has generally followed broad altcoin sentiment rather than reacting sharply to its own protocol upgrades.
What does self-amending mean?
Protocol changes are proposed, voted on by stakeholders, tested and then activated automatically by the network itself, so upgrades do not require a contentious hard fork.
What is baking on Tezos?
Baking is Tezos's term for producing blocks. Holders can bake themselves or delegate XTZ to a baker without transferring ownership of their coins.
Why does Tezos emphasise formal verification?
Its contract tooling is built so that code can be mathematically checked against a specification, which reduces a class of contract bugs. That has been attractive for higher-value and institutional use.
What is XTZ used for?
It pays transaction fees, is staked or delegated for baking rewards, and is used to vote on protocol upgrades.
Market cap decides how big a bubble is drawn, so rank is what places XTZ on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #140 | Terra Luna Classic (LUNC) | $274.55M |
| #149 | Conflux (CFX) | $243.69M |
| #155 | Tezos (XTZ) | $234.21M |
| #157 | Plasma (XPL) | $229.01M |
| #178 | Kaia (KAIA) | $182.60M |