The top cryptocurrencies including Bitcoin, Ethereum and Ripple are all slightly up as today’s news show. However, the real traction seen today is in the coming altcoin news, where the altcoin Tezos surges following the announcement about the XTZ listing on Coinbase.
XTZ has rallied while Bitcoin is trading between $9,000 and $10,000 this week and was showing little action on the day. Right now, the most dominant cryptocurrency is trading above $9,652.
Aside from the news that Tezos surges following its Coinbase listing, it seems like analysts are bullish on Bitcoin for year 2020. The host of the CNBC Squawk Box show, Joe Kernen, has predicted that BTC could hit $55,000 by the next halving of its mining rewards which is apparently going to happen in May 2020.
The altcoin news show that the biggest altcoin by market cap, Ether (ETH), has had a steady week as Tezos surges. ETH is right now trading around $212 at press time and is up by 2.26% on the day. On the weekly chart, the coin is up 1.63%.
Last week, the institutional cryptocurrency exchange San Francisco Open Exchange (SFOX) said that Ether may not be an altcoin, reasoning its statement by noting that Ether has a very tight bond with Bitcoin’s movements – apparently a stronger one than other so-called altcoins.
Meanwhile, XRP has seen a 3% gain too as Tezos surges, closing the day at $0.319. On the weekly chart, the coin is up by over 3.5% which is good. The latest cryptocurrency news showed that the issuing firm behind XRP recently expanded its University Blockchain Research initiative, including academics in Japan via Kyoto University and the University of Tokyo.
As Tezos surges, XTZ is among the 20 top altcoins and is the 16th largest cryptocurrency by market cap. It has seen the largest price spike on the day. At press time, XTZ is recording a rally of over 24% to trade at $1.24.
This spike mainly follows an announcement from the US-based exchange Coinbase, which recently revealed that it would be offering XTZ on Coinbase Pro starting from August 5. Earlier this month, some of the best cryptocurrency news sites also reported that Latin America’s biggest investment bank, BTG Pactual, plans to shift its security token offerings onto the Tezos blockchain.
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