Kraken Joins Coinbase And Binance To Allow XTZ Staking

Crypto exchange Kraken joins Coinbase and Binance in order to provide its users Tezos staking starting today, December 13, 2019.
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In our Tezos news today, we can see that the price of the XTZ coin has increased 12 percent in the past 24 hours, repeating the movements when other exchanges also announced Tezos staking on the platform.

The large US-based crypto exchange Kraken published an official statement regarding the Tezos staking and starting today the users will be able to leverage their coins to safeguard the network and to also receive rewards in return. According to the announcement, Kraken will provide several benefits for the clients who will decide to stake XTZ on the exchange and it said that also the users won’t have to wait for lockup periods since their payouts will be delivered every Monday and Thursday.

What is even more interesting, Kraken joins some of the biggest players in the industry with a fixed rate of 6 percent so if the users decide to exit their staking position they can simply do so by transferring the tokens out of the Staking wallet back to the exchange’s spot wallets. Tezos has been one of the most important topics in the crypto community and it was even compared to the second-biggest altcoin by market cap and called ‘’The New Ethereum.’’

The crypto exchanges seem quite interested in the project as Kraken is not the first one to allow the users to stake XTZ. The Binance crypto exchange announced that it will support zero-fee Tezos staking which means that the users who have XTZ in their accounts will automatically receive staking rewards every day based on their snapshots. The largest US-based crypto exchange Coinbase added Tezos to its portfolio of the staking digital asset and the investors will even receive an estimated annual return of more than 5 percent.

When Binance and Coinbase emerged in the news, regarding the staking of the altcoin, the price of the asset increased by 8 percent and 70 percent respectively and XTZ noted a decent surge today as well with 13 percent against the dollar and 12 percent against bitcoin.
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Tezos is trading at $1.75 and has a market cap of over $1.1 billion and the technical analysis shows that XTZ will keep on surging.