Here’s where Tezos [XTZ] landed after the Kathmandu upgrade went live

Proof-of-Stake (PoS)-based blockchain, Tezos [XTZ], upgrad­ed a pro­to­col on its main­net. The upgrade, called Kath­man­du, was first pro­posed to the Tezos com­mu­ni­ty in July, and was the eleventh time there has been an upgrade. 

Wel­come to #Kath­man­du – @Tezos’ 11th pro­to­col upgrade.

The #blockchain built to last.#Tezos #BlockchainEvolved pic.twitter.com/doFOKxJaY4

— Tezos (@tezos) Sep­tem­ber 23, 2022

Accord­ing to the pro­pos­al cre­at­ed by Nomadic Labs and six oth­ers, Kath­man­du was aimed at scal­ing the Lay­er-one (L1) pro­to­col. Addi­tion­al­ly, the chal­lenge of pipeline val­i­da­tion and test­net gov­er­nance prob­lems would be a thing of the past. 

Before the upgrade, Tezos’ co-founder, Kath­leen Bre­it­man, spoke to Emi­ly Change of Bloomberg about the upgrade. Accord­ing to her, upgrad­ing more than ten times was not a prob­lem for the Tezos net­work because the pro­to­col was devel­oped to upgrade itself.

Started from the bottom; now we stayed put

Since the upgrade acti­va­tion, XTZ seemed to have react­ed pos­i­tive­ly. Accord­ing to Coin­Mar­ket­Cap, the native token of the secu­ri­ty-focused inter­net of the future had climbed 4.15% in the last 24 hours. At press time, XTZ was trad­ing at $1.52.

As for its devel­op­ment activ­i­ty, Tezos expect­ed­ly increased. On-chain ana­lyt­ic plat­form, San­ti­ment, revealed that the devel­op­ment activ­i­ty on the blockchain was 0.75.

Source: San­ti­ment

On check­ing its net­work activ­i­ty, Mes­sari showed that the trans­ac­tion vol­ume had dipped to $9.68 mil­lion. Pri­or to the cur­rent val­ue, XTZ’s trans­ac­tion vol­ume was as high as $17.30 mil­lion sev­en days back.

Source: Mes­sari

For the XTZ address­es count, the cryp­to data library indi­cat­ed that it was approach­ing more bot­toms. The cryp­to intel­li­gence plat­form report­ed the address­es with over $10,000 XTZ had decreased to 8,420. Those with $100,000 XTZ and above had also dropped to 1,490. How­ev­er, the address­es with few­er Tezos units were on the rise.

Source: Mes­sari

Per data on the Decen­tral­ized Finance (DeFi) ecosys­tem, XTZ was not pro­gress­ing. DeFiLla­ma showed that the Tezos Total Val­ue Locked (TVL) was $24.65 mil­lion. The cur­rent val­ue was a 2.21% decrease from the pre­vi­ous day’s worth. 

DeFi Lla­ma also report­ed that Tezos’ liq­uid­i­ty dom­i­nance was now 69.12%. This showed that asset hold­ers had earned more incen­tives on its liq­uid­i­ty protocol.

Source: Mes­sari