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Tezos News: Added By Bitfinex And Evolve Markets

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Tezos news

Tezos (XTZ) cryptocurrency has seen a lot of positive activity recently, with Evolve Markets adding it to its trading platform, and Bitfinex going as far as to add trading pairs for XTZ.

Tezos trading comes to Evolve Markets

Evolve Markets is a trading platform for cryptocurrencies, commodities, FOREX, as well as indices. It allows its users to trade numerous crypto assets like Bitcoin, new altcoins, and alike. Even so, it is probably best-known for allowing users to leverage up to 50X, while at the same time, it is boasting full depth-of-market, order book trade matching, as well as BTC and LTC as its base currencies.

Now, the great Tezos news claim that the exchange is also adding this crypto, and it offers 2x leverage, which makes it pretty much the only platform that does it. This addition will be a good thing for Evolve since the platform continues to grow. As for Tezos itself, it wants to become the first self-amending crypto in the world. Its last year’s ICO managed to raise as much as $232 million.

The platform also recently added Ethereum Classic, Zcash, Bitcoin Cash, Monero, EOS, and Dash. Additionally, it is known for its great security measures, like securing deposits in cold storages. It never exposes the private keys to the internet, which significantly reduces the chances of being hacked. Finally, all data is encrypted, which is yet another important security layer that protects the investors’ funds.

Tezos gets trading pairs on Bitfinex

Continuing with good Tezos news, the coin also got on one of the world’s largest exchanges — Bitfinex. The exchange decided to add the coin just a short while after Tezos launched its MainNet. Not only that, but Tezos also got two exchange pairs XTZ/BTC and XTZ/USD.

Despite the fact that this is ultimately a great Tezos news, the coin still lost some of its value due to another price drop. Even the successful launch of its MainNet did not manage to prevent this, as the coin lost $171 million.

Of course, some skeptics claim that the market reacted negatively to the launch of the MainNet. This is a rare occurrence, but it can happen. The only problem with this theory is the fact that Tezos wasn’t the only coin to go down. In fact, the entire market once again suffered big losses. For many, this is confirmation enough that the MainNet was not responsible for the Tezos price drop.

In the end, it would seem that Tezos just has a natural bad luck to make its biggest moves at all the wrong moments. The coin is currently ranked as 16th as per CoinMarketCap, with its value being at $1.52 at the time of writing. Whether Tezos’ luck is going to turn anytime soon is anyone’s guess, but the recent listings are definitely working in its favor.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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