The U.S.-based cryptocurrency exchange Coinbase has announced the listing of tezos (XTZ) cryptocurrency on Coinbase Pro. Tezos trading will be operational in August.
The launch will be divided into 4 parts. It will include Transfer-only, Post-only, Limit-only, and Full trading. Users will be able to deposit XTZ at least 12 hours prior to enabling full trading. Coinbase will post tweets announcing the stages separately. When there is a sufficient supply of XTZ on the platform, trading on the XTZ/USD, and XTZ/BTC order books will start in the above-mentioned parts.
Tezos (XTZ) is a proof-of-work smart contract platform that has built-in features for user governance. With these features, Tezos is attempting to “democratize” protocol upgrades by incenting user participation. As Coinbase Pro announced that it will support Tezos trading, XTZ’s price shot up from $1.04 to $1.21, a 16.4 percent increase. As per our sources, trading volume is also up substantially, increasing from a 7-day average of $5.6 million.
Tezos has been one of the coins to make the cut for custody services back in February, and today it acquires its first listing on the trading platform of Coinbase. Previously Coinbase Pro had extended its supports for trading with the ChainLink token. With this, traders are now using the token LINK to trade with the US Dollar and Ether.