Tezos (XTZ) had a great year until 2019. It’s one of the few tokens that performed well this year. Coinbase is one of Tezos’ largest validators with 30.6 million XTZ. With an increasing number of cryptocurrency exchanges offering staking services, Coinbase is the largest validator on the Tezos network.
Given the current trend that will continue very soon, we will see cryptocurrency exchanges dominate the list of top validators. Those companies that offer staking as a service are likely to suffer. Eventually, the exchanges will compete to provide a fee-free stake. The exchanges may deviate from their trading business. However, in the long run, this will create issues related to decentralizing Tezos and similar networks.
TEZOS TRENDS ARE POSITIVE
The current trends for Tezos are positive. The exchanges should buy shares in Tezos. With increasing buying pressure, Tezos will increase in the long term. The value of the XTZ has risen 42% in the last 30 days alone. For XTZ there was a phenomenal gain of 241 percent.
Tezos climbed to the top 10 in terms of market capitalization. Binance and Coinbase introduced staking for XTZ. In addition, a few days ago Kraken expanded its staking support.
COINBASE LARGEST VALIDATOR
One of the tweets reads: “Coinbase has now overtaken Polychain Labs as the largest validator for Tezos.”
Coinbase had to buy additional Tezos to provide its stakeout service. The main reason is how the Tezos Proof of Stake (PoS) works. If exchanges are to participate in the stake, they must holdXTZ. It should be noted that Coinbase should buy XTZ tokens in order to maintain their wagering rights and to cash out with stakes to their users.
On December 9th, 2019 the trend was as follows: “Coinbase still has to buy 1.3 MILLION XTZ for its stakeout process or lose its stakeout rights. And you’re not wildly bullish? “
Staking is becoming a new trend for exchanging cryptocurrencies. Several cryptocurrency exchanges are introducing their stakes in various coins. Binance currently offers stakes for nearly nine coins made up of ATOM, TRON, Algorand, Qtum and Tezos. The incentive for use is the commitment they get from their customers.
XTZ is close to Stellar, will likely make a flip. Expectations of future appreciation are increasing. The acceptance of the XTZ is growing despite initial skepticism.
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