fxs_header_sponsor_anchor

Tezos (XTZ) whopping 30% spike in the wake of Coinbase secure staking support

  • Coinbase allows Tezos users to stake their XTX tokens and earn 5% in rewards.
  • Tezos price seeks support above $1.00 even as the RSI retreats from the overbought.

The leading cryptocurrency exchange in the United States, Coinbase announced on Wednesday that it has started offering “easy, secure way to earn staking rewards on Tezos.” The feature is open to all the eligible US customers. The support will see users of Tezos earn rewards for staking their assets within the network.

At the moment staking XTZ with Coinbase will earn users 5% for a period ranging between 35 and 40 days (holding period). The rewards are processed every three days. Moreover, staking on Coinbase gives users control and access to their assets while ensuring the safety of the same digital assets.

XTZ/USD update

Tezos community responded well to the above news. The price of XTZ shot up by over 30% from levels just above $0.9 to highs of $1.2522. Tezos has since adjusted to $1.1524 at the time of writing.

The RSI is also retreating from levels around 100 amid growing reversal action. The MACD in the 4-hour range shows that the buyers still have a lot of influence. A support above $1.00 will go a long way in placing XTZ in a trajectory towards $2.0.

XTZ/USD 4-hour chart

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.