Tezos (XTZ) Price Spikes on Huobi Global Listing

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The decision by the exchange sent XTZ price soaring for more than a day before the listing.

Tezos (XTZ), one of the top 20 cryptocurrencies by market cap, rose more than 3% on a daily basis on Thursday morning UTC after digital assets exchange Huobi announced support for the coin on its international platform. XTZ will not be added to the trading rosters of Huobi Korea and Huobi Australia, as indicated by data available on these two websites.

The exchange operator will list Tezos at 10:00 UTC on Thursday on two of its five markets: with Bitcoin (BTC) and Ethereum (ETH). The venue also supports Tether (USDT), Huobi Token (HT), and HUSD (HUSD) as basic currencies, but XTZ will not be added in pairs with those assets.

“Withdrawals will be available from 14:30, December 16, 2018 (GMT+8),” the exchange explained.

Huobi Global’s decision had a strong impact on the Tezos market performance, the listing announcement triggering a spike of more than 10%  between 06:05 and 06:50 UTC on Wednesday morning. TXZ sustained this momentum for a while, and two hours before the listing, it changed hands at $0.42, a 3.08% increase on a daily basis.

Tezos clocked $2 million in trading volume for the 24 hours to 08:05 UTC on Thursday. UEX was the most active platform for XTZ, with its Tether and Bitcoin markets accounting for 36% ($733,455) of trade values. Gate.io came second, its USDT, BTC, and ETH pairs recording $623,233 in volume (30.6%), according to Coinmarketcap data. Kraken trading in Bitcoin, euro, US dollar, Ethereum, and Canadian dollar amounted to $257,782, or 12.7% of Tezos volumes.

Currently, XTZ sits at number 20 on the cryptocurrency market capitalization list with $256.5 million in value.

Launched last year, Tezos allows third parties to build their decentralized applications on the XTZ blockchain. The project conducted an initial coin offering in July 2017, raising $232 million.


Source:  CRYPTOVEST