What is a cryptocurrency exchange?
A cryptocurrency exchange is a marketplace where buyers and sellers trade cryptocurrencies. Just like regular stock exchanges, a cryptocurrency exchange serves as a middleman who sets the market price at which an equal number of buyers and sellers can be found.
What determines the Tezos price?
Like most cryptocurrencies, the Tezos price is highly volatile and unpredictable, and correlates with the price of Bitcoin. But there are other unique factors that may work to push the price of the tokens up. For example, Tezos’s partnership with high-profile Formula 1 teams, like Red Bull Racing Honda and McLaren, might push up demand for the currency. This is because collectibles are set to be developed, which would only be purchasable through the Tezos token. Endorsements from celebrities like Quincy Jones might also help to bolster the coin’s visibility in the mainstream media.