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Tezos is coming to Coinbase Pro, XTZ surges 16.4% Tezos is coming to Coinbase Pro, XTZ surges 16.4%
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Tezos is coming to Coinbase Pro, XTZ surges 16.4%

Tezos is coming to Coinbase Pro, XTZ surges 16.4%

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Coinbase announced that it will be listing Tezos on Coinbase Pro. Following the announcement, XTZ jumped 16.4 percent while the altcoin markets overall remained stable.

Tezos (XTZ) is a proof-of-work smart contract platform with built-in features for user governance. Using these governance features, Tezos is attempting to “democratize” protocol upgrades by incenting user participation.

On July 30, 17:00 UTC Coinbase announced that it is adding Tezos to Coinbase Pro, the exchange’s platform for active traders. An hour after the announcement the price shot up from $1.04 to $1.21, a 16.4 percent increase.

At its peak within the hour, the XTZ token wicked to $1.26, a 21.9 percent increase from the formerly stable trading range between $1.00 and $1.04. Meanwhile, the overall altcoin markets were unchanged, only decreasing 0.15 percent—suggesting that the price increase for XTZ was motivated by the news and not broader market movement.

Tezos / Tether price chart
XTZ/USDT on TradingView

Trading volume is also up substantially, increasing from a 7-day average of $5.6 million based on aggregate CoinMarketCap data to the 24-hour volume of $10.7 million—up 91.1 percent.

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.

Trading goes live for the token on Aug. 5, 2019, late standard pacific time.

Tezos Market Data

At the time of press 1:06 pm UTC on Nov. 7, 2019, Tezos is ranked #17 by market cap and the price is up 25.64% over the past 24 hours. Tezos has a market capitalization of $779.61 million with a 24-hour trading volume of $71.46 million. Learn more about Tezos ›

Tezos

1:06 pm UTC on Nov. 7, 2019

$1.18

25.64%
Crypto Market Summary

At the time of press 1:06 pm UTC on Nov. 7, 2019, the total crypto market is valued at at $248.46 billion with a 24-hour volume of $80.44 billion. Bitcoin dominance is currently at 66.93%. Learn more about the crypto market ›

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