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Tezos News

Tezos (XTZ ) Price Is Breaking Key Resistance Levels: Analysis

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Tezos (XTZ) price proves to be bullish in the short-term and medium-term trading bias as we are reading today in the Tezos news.

The four-hour time frame shows that there is a huge inverted head and shoulders pattern forming and the daily time frame also shows an even larger bullish pattern. Tezos made a lot of strides over the week and the cryptocurrency started rallying to the highest trading level in the middle of August when it gained well-over 30 percent since the start of November.

The rally sharply pulled back from the $1.25 level although the Tezos (XTZ) price started to stabilize around the 50-day moving average for the first time in more than three months. Some positive signs started to emerge earlier this week after the cryptocurrency started a bullish price action and performed a series of daily prices that closed back above its 200-day moving average. The four-hour time frame shows that the XTZ/USD pair is starting to trade around the neckline of the previously mentioned inverted head and shoulders pattern with a $0.5 upside projection.

If the bulls start the bullish pattern, the pair could eventually rally towards the $1.50 and add another 30 percent to the trading value. The daily time frame highlights that there is an even bigger inverted head and shoulders pattern with a neckline of the pattern located around $1.95. The short-term analysis shows that dip-buying is now preferred.  Buying technical pullbacks towards the $1.00 support level is also favorable in long positions.te

According to the latest sentiment data, the short-term sentiment for Tezos is bullish at 88.00% while the overall long-term sentiment towards the crypto is also bullish. The four-hour time frame shows that a large inverted head and shoulders pattern was formed and a $1.15 level was acting as the neckline of the bullish pattern. The key technical resistance for the XTZ/USD pair is currently located at $1.25.

The four-hour time frame shows that the XTZ/USD pair 200-day moving average is currently providing strong support in the short-term around the $0.90 level. Tezos shows that there is a huge potential over the short and medium-term but the bulls have to stabilize the cryptocurrency above $1.15 and secure further gains.

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Tezos News

OKEx Pool Announces Tezos (XTZ) Baking Service

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The listing of the Tezos (XTZ) token on OKEx earlier this month shows that the leading digital asset exchange and trading platform in the world now announces the launch of Tezos Baking (staking) service. OKEx Pool in fact announces the launch of Tezos Baking - and said that by availing this service users can achieve annualized yields of up to 5.13% which is higher than any other similar service currently available in the cryptocurrency market.The yields which will be generated by OKEx Pool and its XTZ baking service will be settled in OKB. As the Tezos news now show, the settlement is carried out in a distributed fashion and will be added directly to the users' mining accounts on a daily basis.OKEx Pool now has a flexible staking period listed for its Tezos Baking Service - there are 30, 60 and 90 days and each offers 3.2%, 384% and 5.13% estimated annualized yields, respectively. The lowest yield is carried by the flexible staking option at 2.56%.The Head of Operations at the exchange commented the OKEx Pool listing of Tezos. Andy Cheung said:
We have always been committed to driving the growth of the blockchain community and ecosystem. Per newly launched Tezos on our trading platform, we are excited to launch it to OKEx Pool as well.”
He also said a couple of words about the different settlement modes and noted:
“OKEx Pool has been of our proud innovation that enables the integration of mining and trading services by directly transferring mining rewards to OKEx mining accounts and supporting different settlement modes. We will continue to adopt quality projects on the OKEx platform and keep on providing users with safe, stable and transparent digital assets mining services.”
The Staking process involves holding on to funds in a cryptocurrency wallet with the intention of supporting the operations of a specific blockchain network. By doing that, the participant will be eligible for a reward (in this case one in XTZ).According to the platform, in order to participate in the program, users will have to stake at least 50 XTZ in their mining account. The yield calculation will start from the next day and the proportional settlement and distribution will start happening from day 2 onwards.
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Tezos News

Tezos Price Rally Continues Today, XTZ Is Up By 7.51%

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At press time, the Tezos news now show that XTZ has witnessed a major pump and surged by 70% on Coinbase last week. Obviously, the Tezos price rally had a lot to do with the fact that the Swiss SIX exchange listed the cryptocurrency ETP with staking rewards.However, Tezos sees no sign of stoppage. In fact, the Tezos (XTZ) cryptocurrency which stands behind the first self-evolving blockchain continues its impressive price rally today and has just spiked by almost seven percent, allowing it to reach an intraday high of $1.23.For those of you who don't know, the pump and new Tezos price rally comes after a Tezos-backed exchange traded product (ETP) was announced in the cryptonews by SIX, the largest stock exchange in Switzerland by the cryptocurrency firm Amun AG. The Zurich-based exchange also green-lighted a Bitcoin Cash backed ETP back in July this year. Along with Tezos (XTZ), it now has nine cryptocurrency products.As reported on many news outlets, the Tezos price rally has been monstrous. Even though today Tezos (XTZ) is trading at $1.21 with a 7.51% increase, it managed to touch the $1.70 mark in the past days before turning to the selling pressure and correcting again.Because of the new price increase and a surge of over 7%, XTZ got a second breath and may rise to new heights soon.https://twitter.com/CryptoVast/status/1195001513892024322Besides the Tezos price rally, we can see that there are not many altcoins in the green today - even though the day started quite optimistic. While Bitcoin is on the edge of a revival but constantly falling below new marks, two altcoins in the focus today are Cosmos (ATOM) with a rise of 5.15% and Cardano (ADA) which surged by 2.12% to a new price, too.Still, the Tezos price rally is what is most viral in the altcoin news today. The cryptocurrency managed to ramp up its market cap which is now standing still at $799 million - and the volume of traded XTZ tokens is at $148 million. The cryptocurrency is on the 18th position of the total market cap and may go up even more if the rally withholds.Besides XTZ and the price rally, most of the cryptocurrencies are in the red.
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Tezos News

Swiss SIX Exchange Lists Tezos Based ETP With ‘Baking’

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Switzerland and its main stock exchange SIX have officially listed a Tezos-based exchange traded product (ETP) which enables investors to generate passive income. The Swiss SIX exchange will trade Tezos under the symbol AXTZ and the product will be issued by the fintech Amun AG in partnership with the Tezos Foundation. As official news show, it went live for trading on November 5.An overview of the instrument is in the Tezos news now, showing that the ETP's investment objective is both to provide exposure to the performance of Tezos while generating additional yield for all the investors through the so-called "baking rewards."We have already reported about baking in detail. Similar to other proof-of-stake (PoS) based blockchains, Tezos investors will be able to passively earn a form of "interest" by staking their tokens to maintain the network and earn rewards. This is what "baking" symbolizes - as a term specific to Tezos and its listing on the Swiss SIX exchange.With the "baking" process, the stakeholders will get the right to participate in the staking and governance process by delegating their coins to a delegation service of their choice. Once they are delegated, the holdings are set in correlation with the total staking balance of the service. The rewards will be paid out accordingly once they have been released by the network.Reports by Amun show that the firm will charge a 2.5% fee on proceeds from the Amun Tezos ETP. The underlying assets are reportedly secured and managed using the institution-grade Custody Platform by Coinbase. Amun noted that it holds 100% of the value of these assets in cold storage.Meanwhile, this October we saw the Bitcoin Suisse partnering with Amun to launch a new Bitcoin (BTC) and Ether (ETH) based ETP on the Swiss SIX exchange. Amun AG now has a total of nine cryptocurrency ETP products which are listed on SIX, including an XRP-based ETP among others.According to a recent report in the latest Binance news, the exchange argued that with Ethereum's expected switch to PoS, staking is poised to have a transformative impact on the entire industry. Meanwhile, stats from the market show that Tezos (XTZ) is trading with a 3.63% decline and now has a price of $1.11.
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Tezos News

Coinbase Opens Tezos (XTZ) Staking For All US Customers

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Yesterday, the Tezos news showed that the cryptocurrency is in talks to expand to Asian markets after the popular crypto exchange OKEx decided to list it on its website. Today, the news show that Coinbase opens Tezos (XTZ) staking for customers from the United States.In a blog post that was published on November 6, Coinbase announced that it is now introducing staking rewards fro all the Tezos holders on Coinbase. This way, each eligible US customer can earn interest on their XTZ investment for depositing as well as holding the token on the platform.As you probably know if you read our crypto news before, staking is an option that lets customers passively earn income with their crypto by holding the funds in a cryptocurrency wallet - supporting the operations of the token's network. It is also a concept that makes the underlying blockchain of that asset more secure and efficient. In exchange for locking up the assets in a staking wallet, customers are getting rewarded with more assets from the network.As Coinbase opens Tezos XTZ staking, the institutional asset custody (Coinbase Custody) already launched its staking service for XTZ back in March. At the time, the co-founder of Teos Kathleen Breitman expressed her enthusiasm, stating the following:
“The launch of Tezos staking through Coinbase Custody serves an acute need that existed up until now: a way for institutional participants who rely on a secure, offline custodian to take an active role in the network.”
After the news today, all eligible Coinbase customers holding Tezos on the exchange will be able to collect an estimated return for the Tezos staking of around 5% per holding period of 35 to 40 days. Once the initial holding period completes, they will receive the rewards in their accounts every three years.As we can see from the Coinbase news before, the exchange has been active in expanding its services for US customers. Tezos staking remains the most recent example. However, in October this year the exchange began allowing the US based holders of USD Coin (USDC) to earn a 1.25% annual percentage yield.As the most popular exchange in the US, Coinbase has been very active in trying to influence the shape of the digital assets industry as well as its regulatory environment in the country.
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