Tezos (XTZ), currently the largest cryptocurrency using the consensus mechanism (PoS), added another 6% to $1,69, its highest since May 2019. Tezos is now the tenth largest cryptocurrency. with a market capitalization of $1,115 billion, knocking Stellar (XLM) out of its long-awaited spot.
Tezos' latest price increase may be due to the fact that just two days ago, the popular cryptocurrency exchange Kraken added support for XTZ bets (blocking coins in exchange for daily rewards). Now, Kraken users storing their Tezos tokens on the exchange platform will be able to transfer their XTZ balance to a pegged wallet where they can stake their tokens and receive about 6% profit per year.
In the past few months, Tezos has been one of the few cryptocurrencies that has been in a general upward trend. As a result, the cryptocurrency has grown by almost 78% in the past three months, while most other cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and XRP have suffered serious losses. This is largely because Tezos has been added to the list of various exchanges in the past six months, including Coinbase Pro, Binance and Crypto.com.
Similarly, Tezos has seen a 10x increase in daily trading volume since July, a period of time in which most other coins' trading volumes have stagnated. What's next for the brave coin?