- Coinbase allows Tezos users to stake their XTX tokens and earn 5% in rewards.
- Tezos price seeks support above $1.00 even as the RSI retreats from the overbought.
The leading cryptocurrency exchange in the United States, Coinbase announced on Wednesday that it has started offering “easy, secure way to earn staking rewards on Tezos.” The feature is open to all the eligible US customers. The support will see users of Tezos earn rewards for staking their assets within the network.
At the moment staking XTZ with Coinbase will earn users 5% for a period ranging between 35 and 40 days (holding period). The rewards are processed every three days. Moreover, staking on Coinbase gives users control and access to their assets while ensuring the safety of the same digital assets.
Tezos community responded well to the above news. The price of XTZ shot up by over 30% from levels just above $0.9 to highs of $1.2522. Tezos has since adjusted to $1.1524 at the time of writing.
The RSI is also retreating from levels around 100 amid growing reversal action. The MACD in the 4-hour range shows that the buyers still have a lot of influence. A support above $1.00 will go a long way in placing XTZ in a trajectory towards $2.0.
XTZ/USD 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.