Tezos (XTZ) — Should You Buy? Signal, Supply and Price Drivers (Oct 2026)
From https://mrnasdog.com/research/tezos, updated Oct 21 2026
Our read on Tezos for Oct 21 2026: a negative long-run signal and a score of 5/10, from new supply, demand and what moves the price.
- Signal today: negative for Tezos
- MrNasDog score: 5/10 — supply 2.5/5, demand 2.5/5
- New coins: +0.73% in 90 days · +2.93% in a year
- Demand: modest (2.5/5)
- Drivers: 1 ▲ price up · 2 ▼ price down
Big wallets, votes and dates behind XTZ
What the score misses: 3 drivers. Today 1 push XTZ’s price up and 2 push it down.
▼ Etherlink deposits
Etherlink deposits sit about 80% below their Oct 2025 peak.
Good for the price: More money on Etherlink. Bad for it: Money leaves Etherlink. Right now it points down.
| Date | Etherlink TVL |
|---|---|
| Jul 31 2026 | $15.8M |
| Aug 31 2026 | $14.9M |
| Sep 30 2026 | $16.1M |
| Oct 21 2026 | $16.1M |
Checked Oct 19 2026
▲ Upgrade votes
Still no new proposal; this window closes Oct 21 2026.
Upgrades keep shipping → price up · Upgrades stall → price down. Today: the price-up case.
| Date | What happened / what is coming |
|---|---|
| May 1 2025 | Rio upgrade live |
| Sep 19 2025 | Seoul upgrade live |
| Jan 24 2026 | Tallinn upgrade live |
| May 4 2026 | Tezos X Previewnet |
| Jun 30 2026 | Ushuaia upgrade live |
| Sep 24 2026 | Quantumnet testnet |
| Oct 21 2026 | Proposal window closes (coming) |
Checked Oct 19 2026
▼ Foundation treasury
Treasury fell from $767M to $530M in about 640 days.
▲ Price up if: Treasury holds steady. ▼ Price down if: Treasury keeps shrinking. Today: the price-down case.
| Date | All assets | XTZ part |
|---|---|---|
| Mar 31 2024 | $767M | $184M |
| Dec 31 2024 | $749M | $181M |
| Jun 30 2025 | $641M | $72M |
| Dec 31 2025 | $530M | $76M |
Checked Oct 19 2026
New XTZ hitting the market
Tezos pays stakers about 8.07M new XTZ every 90 days, and its small burns take back less than 1%. +0.73% last 90 days, about the same next. No cap, no vesting, no buyback.
Tezos adds +0.73% new supply in the next 90 days and +2.93% over a year — supply scores 2.5/5 (moderate).
How strong is Tezos demand?
Demand reads modest (2.5/5), #46 of 110 coins we track — that is how much people want XTZ now and how much buying could still come.
Extra Tezos demand detail for members stays on the live page.
Questions about XTZ
Should I buy Tezos now, or wait?
Supply and demand point to a negative long-run signal for Tezos (Oct 21 2026, score 5/10). Tezos adds +0.73% new supply in 90 days, and demand reads modest (2.5/5). Tezos’s price drivers: 1 ▲ price up, 2 ▼ price down.
Is Tezos dead, or is the project still alive?
Tezos looks quiet, not dead. It still has a market cap near $330M (Oct 19 2026), and stakers keep earning about 8.07M XTZ every 90 days. The weak spot is money: the Foundation treasury fell from $767M to $530M in about 640 days. That leaves Tezos’s long-run signal at negative, by supply and demand.
What Tezos news is worth watching right now?
Oct 21 2026 is the date to watch. The window for new upgrade proposals closes then, and so far nothing is in. Etherlink deposits also sit about 80% below their Oct 2025 peak, so we would like to see that turn first. For Tezos, the supply-and-demand signal is negative right now.
Could Tezos ever hit $100?
Tezos trades near 29.9 cents (Oct 21 2026). $100 a coin means a $110B market cap, 334 times today’s $329M. Tezos’s supply also grows +2.93% in the next year, so every extra coin needs buyers too. Our supply-and-demand read for Tezos stays negative.
When should I sell Tezos?
We would read Tezos differently if new supply keeps arriving (+0.73% in 90 days), or demand falls from modest, or Etherlink deposits and Foundation treasury keep pointing down. Until then Tezos’s signal stays negative. Mark this date for Tezos: Oct 21 2026 — Proposal window closes.
Is Tezos a good investment in 2026?
Tezos scores 5/10 on our framework (Oct 21 2026): supply 2.5/5 (moderate), demand 2.5/5. Over the next year Tezos’s supply changes +2.93%. The long-run signal is negative.
How do I know when to buy Tezos?
Supply and demand favor Tezos most when little new supply is coming, demand is strong and the price drivers point up. Right now Tezos has +0.73% new supply in 90 days (moderate), demand modest (2.5/5), drivers 1 ▲ / 2 ▼.
Will Tezos go up in 2026?
Tezos’s price drivers today: 1 pointing up, 2 pointing down, out of 3. ▼ Etherlink deposits: Etherlink deposits sit about 80% below their Oct 2025 peak. ▲ Upgrade votes: Still no new proposal; this window closes Oct 21 2026. ▼ Foundation treasury: Treasury fell from $767M to $530M in about 640 days.
Should I buy Tezos or Bitcoin?
Tezos: negative signal, 5/10 · Bitcoin: positive signal, 8.5/10 (Oct 21 2026). By supply and demand, Tezos reads weaker than Bitcoin today.
Where to read the rest of XTZ
- Full XTZ inflation analysis (every unlock, burn and buyback): https://mrnasdog.com/research/tezos/inflation
- Every coin ranked by supply and demand, Tezos included: https://mrnasdog.com/coins
- How we read Tezos and every other coin: https://mrnasdog.com/research/pressure-framework/full
Every answer here applies basic economic theory — the law of supply and demand — to this coin’s data. It is not financial advice.
Original: https://mrnasdog.com/research/tezos · Data + explanation only. Not financial advice.