If the current rally of the Tezos project is anything to go by, the crypto coin XTZ has joined the top 10 list based on market size. Tezos (XTZ) has displaced Stellar (XLM), which is now in the eleventh spot on CoinMarketCap.
Tezos Becoming Popular
The XTZ price gained momentum in the past weeks, which improved the expectations for higher gains in the future. Despite the skepticism it got initially, the coin is gaining wider acceptance and has progressed on nearly all its ICO earnings.
$XTZ set to replace $XLM in the top 10 soon, resulting in index based funds to sell their XLM and buy XTZ.
Wonder if @Delphi_Digital spotted that in Tezos’ tokenomics…
— Matt Kaye 🧐 (@MattDavidKaye) December 11, 2019
XTZ solidified 20% in weekly gains, which saw it trade as high as $1.54. According to CMC figures, the asset acquires a 6% increase today (December 12, 2019). The “flippening” has allowed it to displace Stellar (XLM), which was previously at number 10 according to market size. XLM price has been sliding despite efforts to limit the supply of coins. On the other hand, Tezos has won traders’ interest, putting it in the limelight regardless of its slow and delayed start.
KRAKEN Boosts Tezos (XTZ) With Staking Service
As XTZ wins investors’ interest, its demand for staking service increases, and many exchanges have moved in to provide custodial services with passive income. This gives investors the opportunity to trade XTZ and earn staking rewards through inactive coins.
Investors who would like to earn staking rewards are required to put their XTZ in a special ‘Staking Wallet’ made by Kraken exchange. This is because the staked coins will be temporarily unavailable for withdrawals or trading. Kraken offers custodial staking service, which allows traders to “bake” their XTZ coins without running an open wallet.
Earn a 6% return staking XTZ, available on Kraken Friday, Dec 13! Details here:https://t.co/UTaEfd9NIk
— Kraken Exchange (@krakenfx) December 11, 2019
Tezos’ current staking reward stands at 6.6%, putting the coin among the best passive income earners. The current upward trend boosts the staking, as those who ‘hodl’ are likely to fetch higher prices after selling the asset.
Tezos is soaring high, even on the search engines, as results show increased interest in the coin.
Featured Image Source: Finance Magnates