Source for BlockChain News

Category archive

XTZ

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

by
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.

Featured image: DepositPhotos © everythingposs

If You Liked This Article Click To Share

Over $650K Worth of Tezos Moved to Binance

by
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?

Featured image: DepositPhotos © Rawpixel

If You Liked This Article Click To Share

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

by
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.

Featured image: DepositPhotos © Piter2121

If You Liked This Article Click To Share

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

by
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.

Featured image: DepositPhotos © Piter2121

If You Liked This Article Click To Share

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

by
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 …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.

Go to Top