The Tezos token (XTZ) has risen by 30% to $0.38 – a high not seen since May. This occurred after Tezos closed two days with higher highs, breaking through a descending resistance line. At the time of writing, the token was trading around $0.34. Trading volume surged by 878% to $68 million.
One of the key factors for this growth was the introduction of the post-quantum code. According to Tezos Commons, an experimental network has been launched with 12 bakers and 14 DAL nodes, allowing developers to test the infrastructure via RPC endpoints. Roomsburg noted that this transitions the work on the post-quantum code into real testing mode for Tezos developers, replacing the vulnerable polynomial commitments KZG. He emphasized that the main question now is whether this scheme will withstand scrutiny. The network also attracted new users: their number increased from 573 to 608, contributing to a rise in transaction activity – up to 121,000 per day.
In 2026, Tezos faced significant pressure: demand had largely dried up. However, a shift in market sentiment has brought traders back, especially speculators. According to Coinglass, open interest in Tezos has increased by 44% to $18.1 million, while the volume of derivatives has surged by 272% to $58 million. The simultaneous rise in OI and volumes may indicate active participation and sustained capital inflows. However, the overall Long/Short Ratio remains below 1 – around 0.96. On Binance and OKX, the ratio is above 1. This indicates that investors have started to move into longs, but the shift has not completed across all exchanges.
The short-term outlook for XTZ remains bullish. If demand persists, XTZ could return to $0.38, break through $0.4 in the short term, and target $0.5 in the medium term. However, high speculative activity also means high volatility: if speculation wanes or bulls are shaken out, a pullback below $0.3 is possible.
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