XTZ Surges 57% as Tezos DeFi Booms: Etherlink Layer 2 and Midas Drive $45M TVL

Tezos (XTZUSDT) experienced a significant price increase of 57.22% over the past 24 hours, rising from a 24h open of 0.7462 to a current price of 1.1732 on Binance. This sharp upward movement is primarily attributed to positive developments within the Tezos DeFi ecosystem, including an 8% increase in Total Value Locked to $45.43 million, driven by the launch and adoption of the Etherlink Layer 2 solution and new tokenized products from Midas. Strong trading volume and heightened market activity have accompanied these ecosystem advancements, reflecting increased investor interest and participation. The current market capitalization of Tezos is estimated between $734 million and $847 million, with a circulating supply exceeding 1 billion XTZ, and trading volumes in the tens of millions of USDT, underscoring robust market engagement during this volatile period.