Tezos (XTZ) Investors Take a Sigh of Relief as KuCoin Finally Lists Token for Trading
Tezos’ rise into prominence was incredible and rightly befitting, given its revolutionary self-evolving upgrade system. It was an exciting project, and for many in the industry, this blockchain platform was destined for the skies.
All that, however, turned to nothing as the fireworks that characterized its launch soon faded out, leaving it unable to secure any notable exchange listing. Tezos (XTZ), a multi-purpose platform supporting DApps and smart contracts and intended to merge a self-correcting protocol and on-chain governance to bring about network modifications, is a development of Arthur Breitman, an ex-Morgan Stanley analyst.
However, good tidings seem to be on the way for the platform as KuCoin, a Singapore-based crypto exchange, has finally listed it. Breaking the news via their Twitter outlet, KuCoin said that XTZ would be available, paired with BTC and USDT.
According to the tweet, traders could start depositing XTZ immediately and trade them with Bitcoin and Tether. Upon listing it on its exchange, the coin’s value shot almost immediately, closing the day at $1.02, after a 4.2% rise. It now has a $669 million market cap.
Regardless of how you look at it, getting listed KuCoin has given the project a much-needed lease of life. It is a massive step for a coin which mostly experiences a mere $7-10 million in daily trading volume, considering that the market cap of the entire project stands at about $700 million.
KuCoin, meanwhile, is still eyeing the American market, this time coming with renewed hope in the wake of Binance changing its game in the region. The giant exchange has started exiting the US market following the stringent compliance directives, even though its US-based partner will be operating on its behalf.
The exchange listed Tezos alongside a bevy of coins, which include NEM’s XEM. KuCoin has been fighting hard to upgrade its game, and it’s just recently that it updated its KuCoin Shares Ecosystem homepage.