Coinbase listing opens Tezos (XTZ) to millions of retail investors 🚨 This article is 5 years old...
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Coinbase listing opens Tezos (XTZ) to millions of retail investors
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Updated: Nov. 7, 2019 at 1:05 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase added Tezos to its retail platform and mobile apps. The move will provide market access to the cryptocurrency for millions of retail investors.
Tezos is a delegated proof of stake blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique that mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.
One week ago, Coinbase added Tezos to Coinbase Pro, causing it to surge over 16 percent within 24 hours.
Additionally, Truffle, the popular Ethereum development suite, recently announced support for Tezos in addition to Hyperledger Fabric and R3 Corda.
Tezos history
The Tezos platform launched with much fanfare, with its initial coin offering in July 2017 raising $232 million, one of the largest ICOs of all time.
Following the ICO a major dispute broke out between Tezos founder Johann Gevers and partners Arthur and Kathleen Breitman—the owners of Tezos’ intellectual property rights.
As a result, the launch of the Tezos platform was delayed indefinitely. Token holders were outraged and many sought legal remedies for reimbursement of their funds, with limited success. The network was launched Sep. 17, 2018.
Coinbase’s crypto strategy
Coinbase has continued to aggressively list new crypto assets. Once considered the “conservative” crypto exchange stemming from the measured pace at which it added new coins, likely to adhere to more restrictive U.S. regulations. Starting late last year the exchange changed its strategy to list a greater number of altcoins.
The change in strategy is possibly a response to Coinbase’s weakening market position. In terms of percentage of total volume, U.S. exchanges including Coinbase are losing market share to the now dominant Binance.
Tezos Market Data
At the time of press 1:05 pm UTC on Nov. 7, 2019, Tezos is ranked #17 by market cap and the price is up 25.03% over the past 24 hours. Tezos has a market capitalization of $775.57 million with a 24-hour trading volume of $70.92 million. Learn more about Tezos ›
Crypto Market Summary
At the time of press 1:05 pm UTC on Nov. 7, 2019, the total crypto market is valued at at $248.42 billion with a 24-hour volume of $80.93 billion. Bitcoin dominance is currently at 66.92%. Learn more about the crypto market ›
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Tezos
$0.97969
Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Kathleen Breitman co-founded Tezos, a blockchain-based smart contract platform with an on-chain governance mechanism to coordinate and push upgrades to its network.
Arthur was an Associate and Goldman Sachs and later Vice President at Morgan Stanley.
