In what was the most successful week in 2019 for the cryptocurrency market, Tezos [XTZ] was further buoyed by a massive price pump at the end of the week. The 19th largest coin in the market soared to become the highest gainer in the top-20 list, which include the likes of a bullish Bitcoin [BTC], and the resurgent XRP, Litecoin [LTC] and Monero [XMR].
Trust Wallet, the official wallet for the largest cryptocurrency exchange in the world Binance, announced support for Tezos via an official post on April 3. In addition to the XTZ integration, Trust Wallet stated that a native token staking feature would also be added.
The announcement read:
“In our next iteration, tentatively planned for end of Q2 2019, we will add native support for the delegation of all users who would like to stake their tokens and participate in the Tezos on-chain governance.”
Binance’s trust wallet currently supports Bitcoin, Ethereum [ETH], Litecoin, Tron [TRX], and XRP, among others.
As the month of March veered to a close, Coinbase Custody announced the option to use Tezos to stake for institutional clients, which saw the coin skyrocket by a massive 22 percent in a 24-hour window. Coinbase was even looking to hire Luke Youngblood to help propel the Tezos network with staking support for the Tezos foundation.
Tezos was enjoying the high of the collective market bullish wave as BTC rose above $5,000, with the Trust Wallet announcement sending no significant tremors in the market. However, at 2200 UTC on April 4, the coin surged from $0.856 by a whopping 19.15 percent to reach $1.02 in a matter of 25 hours. Since then, the price has dipped slightly and is now trading just above $1 with a 10.35 percent hike against the dollar over a day.
In terms of valuation, the coin jumped from $577.86 million by 17.09 percent to reach $676.66 million in the same period. However, the coin is not likely to break the $700-million barrier as it did a week ago. Currently, the coin’s market cap stands at $666.67 million.
BitMax took the top spot in terms of Tezos trading volume and accounted for a massive 37.73 percent of the global volume via the trading pair XTZ/BTC. Other prominent exchanges featured on the list were Kraken, Gate.io, and Bitfinex.
Subscribe to AMBCrypto’s Newsletter