Skip to content Skip to sidebar Skip to footer


Binance — the second-largest crypto exchange by daily trade volume — has announced support for Tezos (XTZ) staking, according to an announcement published on Dec. 3.

Starting on Dec. 4, Binance’s users will be able to trade with XTZ, with XTZ rewards to be calculated daily based on live snapshots and distributed monthly. The distribution is set to end before Jan. 20, and after that on the 20th day of each following month.

Binance said that users must hold at least 1 XTZ in order to qualify for staking rewards. Tezos is currently trading at $1.30.

Binance’s CEO Changpeng Zhao had hinted at the possibility of staking in September, when the exchange initially listed the coin with three trading pairs against Bitcoin (BTC), Tether (USDT) and Binance Coin (BNB).

Other major exchanges have added Tezos staking rewards to their available offerings. Coinbase added the feature in early November before transitioning its custody arm, Coinbase Custody, to an internationally based staking service on Nov. 21. 

Staking, in general, refers to the practice of holding a cryptocurrency in a wallet to support a blockchain network’s operations. In addition to allowing holders to vote on blockchain operations, staking also generates periodic rewards for the holder staking their funds. 

Binance’s recent additions

Tezos staking rewards come on the heels of the listing of four Russian ruble trading pairs on Dec. 2. The first trading pairs featuring the ruble include Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and XRP.

In November, Binance launched support for the Turkish lira through its local digital wallet partner Papara and also became the first exchange to add the Fiat Gateway developed by stablecoin operator Paxos.

Apart from that, Binance partnered with crypto travel startup TravelByBit to launch a rewards card that facilitates cryptocurrency payments on major travel website. The card will function like a traditional prepaid card with access to additional discounts and rewards that users will be able to load with Bitcoin, Binance USD (BUSD), Binance Coin and Ontology (ONT).

Cointelegraph By Ana Alexandre , 2019-12-03 19:31:00 ,

Source link

Leave a comment

NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

Source link