Breaking into the top 15 largest crypto's list, Tezos (XTZ) a staking token, is once again back in the spotlight after the Tezos Foundation launched a cryptocurrency faucet disbursing real tokens to Tezos wallet holders. The announcement saw the price of XTZ spike against Bitcoin (BTC), soaring over 5% in an hour in the early trading session on Monday.
Tezos Foundation launches crypto faucet
According to the highly publicized announcement, Tezos wallet holders will be able to obtain 0.01 XTZ ($0.0152) from the faucet allowing users to interact with the blockchain, test development and raise adoption rates of the Tezos token in a bid to grow the number of “Tezzies” – Tezos community. The official announcement reads,
“This faucet allows developers and users to request Tezos tokens (tez) for development and testing purposes. To acquire Tez for development and testing purposes, enter a Tezos address and complete the captcha prompt at faucet.tezos.com.”
The amount will be released every 10 seconds on a first-come-first-served basis. The wallets are set in a queue according to the request time with every user eligible for a piece of the faucet’s funds every 12 hours. It reads,
“Addresses that have received TEZ from the faucet are blocked for 12 hours before they can be re-added to the queue.”
All you need to do is have a Tezos wallet, click on the reCAPTCHA code and click ‘send tez’ and wait for your turn. Tez disbursed through the faucet is totally different from what the test faucets the cryptocurrency world is used to. The real amount of money, however, is almost negligible making it only purposeful for development purposes.
XTZBTC spiked over 5% in an hour to test the resistance level at 17900 sats before retracing to current levels at 17640 sats. Tezos currently trades at $1.52 USD across major exchanges on the back of the positive news, representing an 8% spike in the past 24 hours. Can XTZ break into the top 10 cryptocurrencies?