Crypto.com has added XTZ, the native currency of Tezos, to its platform today and is looking into adding baking rewards for its users. XTZ has enjoyed a streak of new listings this month, with Crypto.com becoming the seventh platform to do so.

XTZ’s Crypto.com Listing

Crypto.com provides numerous products, including the Crypto.com App, the MCO Visa Card, and the Crypto.com Chain which allow users to buy, sell, spend and be paid in cryptocurrencies easily. Crypto.com is based in Hong Kong and has more than 150 staff. The company states that its mission is to “accelerate the world’s transition to cryptocurrency.”

MCO Visa Card owners will now be able to convert XTZ into fiat currencies for ATM withdrawals or purchases at millions of merchants worldwide. On the Crypto.com App, users will be able to buy XTZ with no fees and at “true cost” using a credit card or by bank transfer.

If Crypto.com adds baking rewards, which it is currently exploring, its users will be able to earn passive income from their XTZ holdings. Baking rewards are estimated to be 7.01% per annum, according to stakingrewards.com.

Crypto.com already supports 44 cryptocurrencies on its platform including Bitcoin, Litecoin, Ethereum, XRP, TrueUSD, MCO, CRO, and many more.

Seven New Platform Listings for XTZ

XTZ has been on a roll this month with today marking its seventh listing. Here is a timeline of the seven platform listings in August so far:

  1. Huobi Wallet added support for Tezos on August 01, 2019
  2. Coinbase.com listed Tezos on August 08, 2019
  3. eToro listed Tezos on August 05, 2019
  4. Coinsuper Exchange listed Tezos on August 12, 2019
  5. P2PB2B Exchange added Tezos on August 13, 2019
  6. Bitfinex added Tezos margin trading on August 14, 2019
  7. Crypto.com adds Tezos on August 15, 2019

Many XTZ holders are hoping for a Binance listing, but there has been no indication from Binance that this could be on the way soon.

Tezos is a self-amending cryptographic ledger and open-source blockchain platform for decentralized applications, smart contacts, and digital assets. XTZ is Tezos’ native cryptocurrency. XTZ holders get to vote on the governance of Tezos.

XTZ Price Volatile Amid Listings

While the number of XTZ listings has been in a steady uptrend recently, its price has been more volatile. In the last 30 days, XTZ has seen its price increase 105% from its low at $0.8282 to its high at $1.7 and then decrease 33% from the high to $1.1347 which is its price today.

XTZ Price Analysis – Source: TradingView.com

The news of XTZ’s listings on major platforms like Coinbase likely contributed to the bullish price spikes it saw. However, the bearish movements we’ve seen in Bitcoin and the wider crypto market over the past few days have likely contributed to the retracement XTZ’s price is currently having.

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Darren Brazer
Managing Editor

Managing Editor, Tech Journalist, and Financial Market Analyst. Darren has over four years of experience as a market commentator and two as a journalist. As Darren's experience in the blockchain industry has grown, so has his ability to spot stories, build industry contacts, and maintain a factually accurate standard of reporting.

Darren started at [blokt] as a journalist, and due to his incredible attention to detail, he progressed to an Editor position. This was followed shortly after by his promotion to the Managing Editor position. He is responsible for maintaining our editorial process and guidelines for journalists, and for ensuring our editorial policy demands high professional and ethical standards from our writers.

Darren has previously held positions at investopedia.com, ics-digital.com, and icmarkets.com.

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