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Tezos Price Surges 57% in Days as Coinbase Fuels Another Crypto Rally

Yashu Gola
The Tezos price exploded this week, and analysts pointed to Coinbase as the trigger for this major crypto rally. | Source: Shutterstock
The Tezos price exploded this week, and analysts pointed to Coinbase as the trigger for this major crypto rally. | Source: Shutterstock

The week is ending on a hugely positive note for the Tezos cryptocurrency.

Tezos Races Ahead of Wider Crypto Market

The blockchain project’s native asset XTZ today established a new weekly high towards $1.08 – up more than 17 percent in the last 24 hours. The latest push also brought the coin’s weekly gains to 57 percent, bringing the price a few steps closer to its November 19 high at $1.09.

No other top-20 cryptocurrency came close to matching the breakneck Tezos rally.

XTZ USD, XTZ PRICE, TEZOS PRICE
XTZ USD, XTZ PRICE, TEZOS PRICE

TEZOS’ XTZ WEEKLY PRICE PERFORMANCE | SOURCE: COINMARKETCAP.COM

Volume-wise, crypto exchanges listing XTZ-enabled pairs reported trading activity worth a little above $8.2 million. Among those were Gate.io, a China-based cryptocurrency exchange, that posted 27 percent of the total XTZ daily volume. Aside from that major slice, Tezos trading appeared well-distributed.

Interestingly, Tezos attracted considerable volume from fiat markets. On Kraken, a regulated US exchange with international markets, the euro contributed 9.23 percent of the coin’s total daily volume. At the same time – and on the same trading platform – USD accounted for $477,000, according to a 24-hour adjusted timeframe.

XTZ Rally: Fake or Genuine?

Genuine, no doubts about that.

Read the full story on CCN.com.