Coinbase at 6 of November announced that eligible customers can earn an extra income by staking Tezos (XTZ). It is clear that all this made the price of Tezos to spiked sharply and add almost 50 % to it’s value.

What is Tezos

Let’s take the things from the beginning, Tezos is a decentralized blockchain network which unlike from other old fashioned coins does not support mining, however Tezos holder can receive a passive income from taking party of Proof of Stake (PoS) system. It has a very promising start but there was some delays and as a result that affects the price and the reputation of (XTZ)

Important days was from 3 July of 2018 to 6 July of 2018 when the price was surged from 3,00 $ to 1,26 $.

Tezos Staking

Yesterday (06/11) Coinbase announced big news for US customers they can stake their coin in Coinbase’s exchange without do anything. Proof of Stake (PoS) is a very good way for people to earn a passive income and sometimes it reaches 15% or  20% annual. This is by far better that the interest which provided a bank.

The official Tweet of Coinbase:

The estimated yearly return of Tezos staking will be around 5%

The Market Reaction

As expected the Tezos price reacts on the new and pumping over 50% from about 0.9 $ to 1.4%  impressive also is the impact on trading volume from $13 millions to $ 60 millions.

At the moment of writing Tezos price has consolidated to 1.24 $ due to the fact of FOMO. Furthermore, even if great news take place Tezos is down 90 % from it All Time High, but with big updates and great news like the above Tezos can be again a top ten crypto asset in CMC.

P.S. If you are a new user you can register in Coinbase from this link an take 10 $ extra in Tezos in your first buy above 100$.