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Tezos Price Rises By 10% Reaching A New Five-Month High

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Tezos price spiked over the weekend starting a positive movement after multiple rough sessions at the beginning of the week. As the altcoin news show, the XTZ altcoin reached a market cap of $790 million.

The Tezos price compared to the dollar exchange rate shows a 10 percent increase by establishing an intraday high at $1.19. The USD/XTZ pair found a slight support level and it is the same one from the Bitcoin Cash forking even in November. The price did drop only to find a bottom area around the $0.34 price point. After the strong rebound, the XTZ value was brought back to $1.19 for the second time in one week.

If a break above the $1.19 level happens, this could boost the Tezos price in the near term. The volume distribution on the market looks extremely concentrated on new altcoins. Overall, the XTZ-pairs show a solid $5.69 million worth of trading over the past 24 hours. BitMax, for example, was a host for more than 35.65 percent of those trades mainly against Bitcoin and Ethereum. However, as previously reported in our latest cryptocurrency news, the exchange has a reputation of faking the volumes.

It is possible to assume that the Tezos price could find an intraday uptrend and spike further to influence the overall crypto market trend. Over the past 24 hours, most of the crypto assets were trading in green. For example, Bitcoin increased by 2.55 percent against the dollar while Ethereum and Stellar followed.

The Minister of Finance of France Bruno Le Maire explained that the Tezos blockchain is superior to its peers. He was also speaking to an audience at the Paris Blockchain Week Summit making bold predictions about the Tezos price as well. He pointed out:

 “France has some nuggets on the entire value chain of new services to companies, hardware, and protocols. I am thinking in particular of Tezos and which allows the development of a blockchain protocol overcoming the known defects of public blockchains.”

The Tezos price was already improving after the partnership with Coinbase crypto exchange. Both of the companies now allow institutional investors to ear passive rewards. San Francisco-based Coinbase even promised up to 6.6 percent yearly returns to the investors.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Tezos News

Tezos Price Loses Momentum After Declining To Ascending Trendline

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The Tezos price loses momentum as, throughout the previous week, Bitcoin (BTC) and other cryptocurrencies have experienced a hit and at this moment, Bitcoin (BTC) is still down 7.09% since the peaking at $10,485 on February the 13th as we are reading in the Tezos price news. Many of the other cryptocurrencies that experienced the suffering of the correction are currently healing their positions and the double-dip correction of the previous week looks like it makes investors nervous about investing again in cryptocurrencies. On February 15th the whole market went down, Tezos (XTZ) has fallen 22.6% but from February the 17th the crypto has grown 25.85%, to be traded at the level of $3.50. Since the beginning of 2020, Tezos has grown 199.52% and for most of the previous two weeks, analysts have warned about the parabolic rally that can be over at any moment and that after it a very hard retrace could follow. Over $3.95 Tezos is aiming its all-time high at $4.12 which means that the altcoin will have the freedom to explore higher prices once breaking the all-time high level. At the time of writing this article, Tezos (XTZ) has support really close to the $3.53 level. If a harder pullback is to happen as seen in the past Tezos returned at the 38.2% Fibonacci retracement level ($2.91) and also near the 50% retracement near $2.59 so traders will probably have their aims set in this sphere. On the 6-hour chart, we can notice that tezos price loses its momentum while the painter longer wicks, a sign of profit-taking, and that the crypto has fallen into a pattern of lower highs, nonetheless it has yet to suffer lower low. While toppy, the upward trend is still intact, but it is better for traders to watch trading volume and watch to see if the price falls below the 23.6% Fibonacci retracement level at $3.30 as this will mean the breakthrough the ascending trendline. If the ascending trendline is wrecked the daily timeframe shows that the Bollinger Band indicator moves average at $2.83, not too far removed from the double bottom seen before at $2.76 where the price jumped back on February the 16th and 17th.
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Tezos News

Tezos Price Could Have Been Pumped By Coinbase, Reports Show

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XTZ has been on fire over the past six months, surging by around 400% in the timeframe and leaving a lot of investors scratching their heads as to what is fuelling the astronomical rise. However, the Tezos price could have been pumped by Coinbase as some reports show. The entire situation could be in part a clever marketing from the exchange that is driving extreme FOMO into the number ten cryptocurrency by market cap. For those of you who did not follow our altcoin news and rumors, the price of Tezos had an explosive start of the year as it rose by 225% since January 2020 first began. Months later, even after a 28% pullback, the XTZ altcoin is showing no signs of stopping or slowing down. This is why the Tezos price could achieve so many things in the future and is designed to launch Security Token Offerings (STOs). As a digital and tokenized version of the IPO launch, STOs are tokenizing traditional securities to take advantage of the benefits of blockchain technology for transparency, tracking and validation. Much like Ethereum exploded in value during the ICO boom, Tezos is also expected to perform strongly as STO comes into favor. But there are many other factors showing that the Tezos price could rally in the future - XTZ is among the crypto market's top performers this year which rocketed from low on the list to a position in the tenth spot, even passing Chainlink (LINK) which was the best performing altcoin of the previous year. According to one Twitter user and investor, the Tezos price could have been manipulated by Coinbase - he recorded how his Tezos staking earnings pile up in real-time. https://twitter.com/jebus911/status/1230634500239101953 If this was not enough, we can see that the exchange further encourages holders of the altcoin to try out staking for themselves. Coinbase even offers holders of the coin additional XTZ tokens for giving staking a try. The Coinbase news now show that Tezos price could always go up and that the exchange stands behind the token. Now that XTZ is rising in terms of value, the staking rewards are piling up quickly (in real time) which increases the likelihood that investors dump more capital in the parabolic altcoin.
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Tezos News

Tezos Price Reached New Yearly Highs Yesterday, YTD Gains At 200%

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In times when most of the top cryptocurrencies are struggling to gain back the bullish momentum seen at the start of the year, the Tezos price reached new yearly highs and continued climbing up even yesterday during the bearish situation on the market. The cryptocurrency reached a new yearly high signalling a further upward advance. In more detail, the altcoin news and rumors showed that Tezos (XTZ) has seen a price increase by more than 200% since the start of 2020 and as of today, has a year-to-date return of 761%. Despite the exponential appreciation, it seems like its investors cannot get enough of XTZ. The Tezos price reached new all time highs and XTZ was able to hit a new yearly high of $3.80 yesterday, after which the coin corrected and is now trading in the $3.65 region. But what is amazing is that the TD sequential indicator estimates that the coin could continue its uptrend for another four weeks before a sell signal is presented. Since the weekly candlestick is a green five, the technical index forecasts a run-up to a green nine candlestick which will be considered a sell signal. Moreover, the parabolic stop and reverse or "SAR" has just presented a buy signal on XTZ's 1-day chart. Every time the stop and reversal points move below the price of the asset, it is considered to be a positive sign. A bullish formation like this proves that the Tezos price reached a new yearly high. XTZ surged nearly 133% after January 29 which is a massive momentum being built up for the cryptocurrency - going from $1.55 to a high of $3.80 and now $3.65. The recent break of the $3.60 resistance level is still good for XTZ. The Tezos news show that it adds credence to the bullish patterns mentioned above and suggests that Tezos could experience a further increase in the buying pressure behind it. A spike in demand could push the price of the cryptocurrency up to the 200% Fibonacci retracement level which sits at $5.96. On the way up, XTZ could find significant resistance around $4.24, $4.57 and $5. It is also worth noting that many investors are optimistic about XTZ as the Tezos price reached a new yearly high - and cannot hide their excitement. According to the social engagement info, 78% of all social media posts about Tezos are bullish.
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Coinbase News

Coinbase Trashed As The Platform Puts 25% Fee For Staking Tezos

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Earlier today the users of Coinbase trashed the platform as they charged a 25% fee for Staking tezos, since they believe that a platform such as Coinbase should charge minimal fees and not make it higher so let’s read more in the coinbase news today. Staking became extremely popular in the crypto world but the exchanges are seemingly asking for a bigger piece of reward. Despite the fact that users of Coinbase trashed the platform, Coinbase is still among the largest and most trusted exchanges in the industry but we will see how that turns out after the 25% staking fee on Tezos. Staking was rolled out by Coinbase in November 2019. According to the prices and fees disclosure of the exchange, ‘’coinbase will distribute this reward to your after receipt by Coinbase, minus a 25% commission.’’ Things do not look promising where the staking of the assets is concerned. Coinbase even confirmed to its users that they will be able to stake Tezos online and to do so they will use CB As an actually validated baker. Rather than keeping the fees to a minimum, Coinbase will charge a few of 25% which is a crazy amount for all intents and purposes. The company does have a habit of charging high commissions for virtually everything that someone should do on the platform. Tezos staking commissions across the exchanges all seem to have hovered above the 15 percent mark which is unacceptable. This is also another reason why no one should keep their funds in a centralized exchange as well. Staking XTZ can be done through other means too with much lower costs. Coinbase has been criticized for high fees before in the past and the exchange was making money on the staking trend in blockchain but also set the price for its services way to high. As one of the users wrote, at least the UI for the exchange is incredible despite the massive commission rate. Some users were also confused over why Coinbase should do this. This could possibly har their business in the long run despite the fact that it now leads the entire market in Bitcoin under custody. Coinbase now has more than 966,230 BTC in the cold wallets and the exchange still has supportive clients that do not need to dissuade XTZ holders.
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