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Tezos (XTZ) Outperforms in 2020: Here are the Key Drivers

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Tezos

Tezos

The New Year has seen a degree of a turnaround in the crypto space, as many tokens have recorded significant gains. One notable gainer is Tezos (XTZ). Since the start of the year, the XTZ token has more than doubled in price, and it goes without saying that it could be on the radars of most crypto traders by this point.

More importantly, the coin has managed to break into the top 10 crypto projects by market cap thanks to this rally. Currently, XTZ enjoys a market cap of $1.9 billion. However, this begs the question …

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Tezos (XTZ) Hits New High for 2019, Market Cap Tops $1.4 Billion

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Tezos

Tezos

Tezos (XTZ) is having a strong end to 2019, with the token seeing its price surge over 85% since early November. This boosts expectations for appreciation going forward as adoption continues to grow following initial skepticism.

XTZ Storms into the Top Ten

This week, the digital coin continues its impressive performance and gained 25%, making it the best-performing token among the top ten digital coins. Currently, the coin is trading at $1.72. On December 8, the token stormed into the top ten coins by market cap for the first time. The coin’s market cap rose to $1.4 billion to exceed its closest rival, Cardano, by around $300 million.

The rally may be cut short following the recent market slide, but so far, Tezos is among the biggest crypto gainers. In the meantime, the gap between Tezos and Bitcoin SV (BSV) has continued to narrow, which means that it could get into ninth place if it surges by another double-digit.

Staking is the New Trend in the Industry

The rally was a result of Kraken adding direct staking from Ledger hardware wallets through the Ledger Live app. The exchange offers passive income to those who choose the platform for greater security of their coins. It offers a 6% reward in comparison to Coinbase, which added staking early last month but trimmed rewards to 5%.

>> Binance Adds Fiat Payment Options with Paxful Partnership

Staking changes how tokens work in an ecosystem by minimizing their significance as speculative assets but also increasing their demand as a way of generating income. As a result, this means that there is enhanced price stability as well as coin demand.

The crypto market has been bearish, but XTZ has managed to defy that on several occasions in the last few months. Staking has become the new trend in the industry among various exchanges that have moved to provide custodial services with some returns. The Tezos staking rewards vary depending on the number of coins locked in.

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Binance Launches Tezos (XTZ) Margin Trading

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Binance

Binance

The crypto market might be going through a massive slump at this point in time, but that has not stopped the biggest crypto exchanges from introducing new products. In a new development that will come as a further boost to crypto traders, Binance Binance has decided to launch margin trading in Tezos (XTZ) on its platform.

Important News for Tezos

Considering the fact that Binance is the biggest crypto exchange in the world in terms of trading volumes, this is good news for the crypto community and also for Tezos. Despite the current troubles in the crypto market, Tezos enjoyed a rally on the back of the news and hit $1.24 per token.

Tezos has generally been behind many other cryptocurrencies in the recent months, but it should be noted that for crypto traders, Binance has become one of the most important marketplaces for the token. Moreover, the listing on Coinbase has further helped matters for Tezos, since traders in the United States can now get involved as well. That being said, it is also true that margin trading can often prove to be risky and especially in cryptocurrencies with a small market cap.

>> Libra Co-Founder Says It Isn’t Competing With Fiat Currencies

In this regard, it is important to keep in mind that there has been a clear rise in liquidity in Tezos over the recent weeks, and that is directly responsible for this decision from Binance. The introduction of margin trading should come as a boost for Tezos since it will now allow traders to bet on the price of the token. In addition to that, an onset of positive news has also been a blessing for the cryptocurrency, and the market expects it to have success in the upcoming quarter.

Binance has again proven that it is one of the best exchanges with regards to crypto margin trading at this point. The exchange offers margin trading in as many as 27 cryptocurrencies at this point.

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Coinbase to Offer Tezos Staking to US Consumers

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Coinbase

Coinbase

While it is true that the crypto space has grown at a breathtaking pace over the past few years in the United States, it should be noted that it would not have been possible without the stellar service provided by crypto exchanges like Coinbase. Over the years, the exchange has provided crypto enthusiasts, investors, and traders with a world-class platform.

Key Details

In a new development, it has emerged that Coinbase users will now be able to stake the cryptocurrency Tezos on the platform. The announcement was made on Tuesday by the company, and it is definitely a significant development.

The announcement was made by Coinbase in a medium post yesterday, and in the concerned post, the company stated that users who hold Tezos will now be able to get staking rewards. It is a highly important development since it creates an incentive for investors who are prepared to stay in the crypto market for the long term.

Due to the existence of rewards, Tezos (XTZ) holders will now be rewarded with interest on the tokens that they own and hold on the platform.

The interest will be paid out in XTZ. It should be noted that the service has already been launched in the institutional platform maintained by the company named Coinbase Custody. The service was rolled out earlier this year in March.

>> uBUCK Signs Strategic Alliance Agreement with Deltec Bank & Trust

At the time, Tezos co-founder Kathleen Bretmen said, “The launch of Tezos staking through Coinbase Custody serves an acute need that existed up until now: a way for institutional participants who rely on a secure, offline custodian to take an active role in the network.” Coinbase users will now be earning a staking reward of 5% on their holdings over a period of 35 to 40 days.

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Tezos, Chainlink Jump After a Key Partnership News

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Tezos

Tezos

The crypto sphere has been buzzing over the past few days owing to the Bitcoin halving event, but that does not mean that other cryptocurrencies have not been making waves as well. Chainlink (LINK) and Tezos (XTZ) may be two of the smaller cryptocurrencies when it comes to market cap, but both have made noticeable gains in recent days.

Key Details

The two projects entered into a partnership recently, and since then, the cryptocurrency tokens have been in lockstep. Both cryptocurrencies seemed to be in the dumps not long ago, but both LINK and XTZ have managed to make remarkable recoveries recently.

That being said, it is also important to keep in mind that both these tokens have been among the best performers so far this year. Both LINK and XTZ have generated gains of 100% this year.

The partnership between the two projects will help smart contract developers who work on Tezos to get access to the decentralized oracle network that is managed by Chainlink. The availability of an advanced decentralized network is expected to be a major boost to all the developers who work on the Tezos project.

In addition to that, it also opens up a range of possibilities for the developers in terms of use cases, so it is not really a surprise that Tezos has enjoyed a rally in the past few days. Experts believe that both projects are expected to see the benefits of this collaboration in the long run. As the blockchain space grows, and the demand for smart contracts rises, the possibilities of the dual effort will become clearer.

>> Bitcoin Soars Above $K Mark with Strong Momentum

At this point in time, the collaboration between LINK and XTZ has triggered a lot of interest in the crypto space. It remains to be seen how long the rally is sustained in both these tokens.

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Tezos (XTZ) Gains 200% YTD As Buyers Get Excited

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Tezos

Tezos

Tezos (XTZ) is making solid gains this year amid continuous buying activities on multiple developments.

Key Developments

For as long as the crypto sphere has existed, Bitcoin has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, Bitcoin’s rise has been nothing but spectacular, and any fluctuation in the price of the token can result in similar effects on all other tokens. In other words, Bitcoin remains the most powerful cryptocurrency in the world, and it is not only because of the incredible gains that it has recorded through the first half of 2019.

However, it is important to point out that despite the 200% gains that BTC has clocked in 2019 so far, there is another cryptocurrency that has been just as impressive this year.

The cryptocurrency that has matched Bitcoin’s yearly gains so far this year is Tezos, which used to be a little known token but is now much better known in the crypto space. At this point in time, the Tezos token has generated gains in excess of 200% this year so far and ranks as the 16th biggest cryptocurrency in terms of market capitalization. Its market cap has climbed steadily as well, and it currently has a valuation of $1.5 billion.

>> Is Ethereum (ETH) No Longer a Crypto Trader Favorite?

In this week alone, Tezos has managed to gain as much as 15%, and it is believed that the current spike was due to a positive development at a major crypto exchange. The influential United Kingdom-based crypto brokerage eTORO rolled out trading support for Tezos, and that proved to be the major trigger behind the significant gains that have been generated in the week so far.

Tezos is definitely on a roll this year and has been attracting a lot of attention from people who matter. It would be interesting to see if the token can continue to generate such impressive gains over the coming months.

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Tezos (XTZ) Soars Over 32% in a Week: Here’s Why

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Tezos

Tezos

Altcoins had a pretty disappointing time in 2019, but since the turn of the year, it has been a different story, and one of the altcoins that could be watched closely at this point is Tezos (XTZ). Over the course of the past seven days, XTZ has enjoyed a sustained rally and has emerged as the highest gainer from among the top 20 tokens among cryptocurrencies by market cap.

In the last seven days, XTZ has gained as much as 32.5%, and over the past 24 hours, it has managed to gain 6.5%. These gains have firmly positioned the token as one to watch out for, and investors could do well to keep track of the price action.

Key Drivers

That being said, analysts have not yet been able to figure out the specific reasons behind the remarkable rise in Tezos in recent days. However, the current rally must come as a form of vindication for all those investors who held on to XTZ, even though it crashed considerably back in 2018. It hit its all-time high back in 2017, but when the crypto selloff commenced in 2018, XTZ suffered considerably and tanked by as much as 80% at the time.

The rally this week is not the only thing that is newsworthy with regards to XTZ. This past Thursday, it emerged that Binance was going to make XTZ futures available on its exchange. XTZ’s future went live on the exchange at 8 in the morning on Thursday, and it marks another important chapter in the continued growth of the cryptocurrency.

>> Bakkt to Acquire Loyalty Program Provider Bridge2 Solutions

In this regard, it is important to keep in mind that Binance is the world’s biggest crypto exchange, and the launch of XTZ futures on the platform could have a highly positive effect on the token. The current developments have made Tezos one of those altcoins that could be hard to ignore.

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Tezos (XTZ) Outperforms Altcoins | Soars Over 40% This Week

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Tezos

Tezos

The month has got off to a fairly promising start for a crypto sphere with Bitcoin managing to gallop past the $10,000 mark and many other tokens gaining significantly in the aftermath. While it is true that Bitcoin is almost always the leader of the market in terms of gains when the crypto space starts rising again after a slump, it has not been the same this time. This time, Tezos is leading.

Big Rally

Tezos (XTZ) has managed to gain more than Bitcoin this week, and according to many crypto sphere watchers, it could prove to be a better investment for the short term. XTZ has managed to gain as much as 5% over the course of the past 24 hours, and its market cap rose considerably as well. The market cap of Tezos stood at $952 million at one point.

However, with regards to Tezos, it needs to be remembered that the world’s 16th biggest cryptocurrency in terms of market cap has also been boosted by a significant development this week. This week, Tezos was listed on Coinbase Pro, the world’s biggest crypto exchange, and that resulted in a significant upsurge in price. It remains to be seen whether it can manage to hold on to the gains over the coming days.

>> Bitcoin Recovers 15% in 3 Days: What’s Driving BTC?

On the other hand, Bitcoin’s significant rise has been triggered by the rate cut for the United States Federal Reserve as well as United States President Donald Trump’s decision to impose fresh tariffs on Chinese goods. According to experts, Bitcoin experienced a small downturn just before the announcement from the Federal Reserve yesterday, and as soon as the announcement was completed, the token’s price shot up considerably.

What do you think about Tezos?

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Over $650K Worth of Tezos Moved to Binance

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Tezos

Tezos

Over the years, the crypto space has seen plenty of remarkable rallies, and one of the more noteworthy ones in recent times has been that of Tezos (XTZ). The token has rallied by as much as 400% over the past six months, and when an altcoin rallies so strongly over a sustained period of time, people are bound to take notice.

Key Details

Despite the strong move in the cryptocurrency over the past few days, it should be noted that a large number of XTZ tokens were recently moved to Binance. XTZ tokens worth as much as $650,000 were moved to Binance, and such a move generally comes from a big player in the market known as a whale. Additionally, such moves often prove to be a sale signal, so investors should keep an eye on Tezos over the coming hours.

Since January, XTZ has soared by as much as 225% and has continued to extend its gains progressively. At this point in time, there is no indication that the Tezos rally is going to slow down any time soon. It is now being speculated that the current rally in XTZ could have been triggered by the marketing efforts of Coinbase. More often than not, such marketing campaigns can create ‘fear of missing out’ among investors and can often lead to sustained rallies in cryptocurrencies.

The whole Tezos project is marketed as a staking platform, and this particular aspect of the project is marketed quite aggressively by Coinbase. It is important to keep in mind that Coinbase is possibly one of the world’s most influential crypto exchanges and boasts of the biggest pool of American customers. It is only natural that it has the ability to make or break cryptocurrencies.

>> How Could a Potential Ripple IPO Affect XRP’s Price This Year?

At this point in time, XTZ has managed to climb to the 10th spot in the market cap rankings of cryptocurrencies. However, with the backing of Coinbase, it could well be a matter of time before the market cap rises further in the coming months.

What do you think?

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Tezos (XTZ) Surges After Kraken and Coinbase Add XTZ Staking

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Tezos

Tezos

Tezos (XTZ) has been performing well in recent weeks as other coins continue to fall. The coin gained, taking its market cap to $1.4 billion, which placed it within the top ten cryptos by market cap.

Tezos Grows in Values as Addresses with Small XTZ Balances Increase

Since the first week of November, XTZ has experienced a 58% climb, representing a significant increase in value and market capitalization in over 40 days. In contrast, other cryptocurrencies, such as Bitcoin, suffered several slumps, with each having its market cap significantly devalued. The price of Bitcoin has dropped to around $7,000, while the Ethereum price is nearing a year-to-date low of $123.27.

However, the increase in the value of Tezos might have been a result of the growing number of accounts with small balances of XTZ. This is according to a Coinmetrics report that indicates that XTZ has managed this feat as the market continues to experience growing reticence.

The number of addresses with small balances of Tezos has grown significantly since August. The addresses grew from 60,000 in August to the current more than 100,000 addresses. At the beginning of this week, the number of addresses having at least 0.1 Tezos was around 107,000.

Various Crypto Exchanges Add Support for Tezos Staking

Some opine that the reason for the surge in the value of XTZ over the past month is the enhanced support for XTZ staking from major crypto exchanges. Staking is a way for token holders to generate passive income for contributing to the security of the network.

>> Ethereum Pluges 10% in 48 Hours: Coin in Net Negative for 2019

In early November, Coinbase added support for Tezos staking on its platform, enabling users to earn up to $6 worth of Tezos for completing lessons on the platform’s functionality. Following Coinbase’s support, Kraken also followed suit on December 13 when the exchange announced it was enabling Tezos staking.

Equally, Binance and Ledger have also announced their support for Tezos. Ledger announced support for XTZ, which allows its users to manage the coin and grow their assets by staking XTZ. Tezos becomes the first proof-of-stake protocol that allows users to delegate coins network validators on the Ledger Live Platform.

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