• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Tezos soars 30% in a week as Coinbase Pro adds it to supported assets list
Tezos

Tezos soars 30% in a week as Coinbase Pro adds it to supported assets list

August 6, 2019 by Ali Raza

Despite the halt in cryptocurrency price rise that took place earlier this year, coins remained relatively high-valued, especially when compared to their prices from the start of this year. This has made them attractive to traders and investors, and new listings on cryptocurrency exchanges are continuing as always.

The most recent development of this kind was reported only a couple of days ago when Coinbase Pro announced that it would add a new cryptocurrency — Tezos (XTZ) — to its list of supported assets. The exchange’s professional trading platform’s announcement was followed by a sudden surge of XTZ price, while investors and traders were thrilled to hear the news.

In their blog post, Coinbase Pro officials stated that the launch would take place in four stages. The first one will be transfer-only, followed by post-only, limit-only, and finally, full-trading mode. Each of the phases will be announced by Coinbase Pro via Twitter.

Our XTZ/USD, and XTZ/BTC order books will soon enter transfer-only mode, accepting inbound transfers of XTZ in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/PDrccf2Nww

— Coinbase Pro (@CoinbasePro) August 5, 2019

Coinbase is the biggest and most popular cryptocurrency exchange in the United States, as well as one of the biggest and most popular ones around the world. Its Coinbase Pro has an excellent reputation of its own, and its decision to list Tezos had quite positive results.

Tezos (XTZ)’s price sees a major surge

Similar to many other cryptocurrency projects, Tezos uses PoW to offer smart contract and provide protocol upgrades by generating activities of blockchain participants. Following the Coinbase Pro announcement, XTZ price surged from $1 on July 30th to $1.50, today, which is its highest price since June 1st. This is still not Tezos’ highest peak in 2019, as the cryptocurrency previously hit $1.78 in mid-May – but it still is not far off.

Even so, the fact that XTZ followed Bitcoin’s crash in June means that many who held XTZ managed to make a decent profit after the new development. The price soared by 16.4%, and Tezos holders were quick to cash out.

Since Coinbase Pro has a lot more users than most typical exchanges, this was a big deal for both entities. There is a lot more liquidity, which will allow the coin to avoid wild price fluctuations in the future, after the initial surge that came as a result of the hype. This is also not the first time that Tezos got in contact with Coinbase’s ecosystem, as XTZ ended up being among the coins that were accepted for Coinbase Custody service earlier this year, in February.

In the near future, Tezos is likely to receive at least two new trading pairs on Coinbase Pro — BTC/XTZ and USD/XTZ. According to the exchange, XRZ will be available in most jurisdictions where Coinbase itself has a presence in. However, this will not include the state of New York, at least not at first.

For now, however, the cryptocurrency communities are celebrating the new move, and there was a significant increase in the XTZ price and trading volume, as mentioned. At the time of writing, the XTZ price sits at $1.46, after seeing a drop of 1.1% in the past 24 hours. The new drop comes as a correction to a sudden surge that came due to the hype, and the price of Tezos is likely to stabilize itself relatively soon.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News Tagged With: Coinbase Pro, Tezos (XTZ)

Primary Sidebar

Recent Posts

  • Ban On Ethereum Staking Would Be “Terrible”-Coinbase CEO February 9, 2023
  • Kraken Under SEC Scrutiny, Crypto Exchange Accused Of Securities Violations: Report February 9, 2023
  • 11 Years Dormant Bitcoin Wallet Reawakens With $9.5M Gain: A Forgotten Fortune February 9, 2023
  • Cardano DeFi TVL Shoot Up By 100% YTD, Data Shows February 9, 2023
  • Laundering Of Ethereum Worth $4M By N.Korean Lazarus Group February 9, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.