While the top 10 coins are in red, Tezos is up 10.42% after SIX, Switzerland’s primary stock exchange listed an income-generating exchange-traded product (ETP) based on Tezos (XTZ) token.
Tezos Market Cap Increases by $6 Million
Tezos market cap has also made a significant move in the past 24 hours. It has reached $80.85 MM from $74.67 MM in one day. The latter’s market cap has risen $23 million since the starting of November.
XTZ/USD price had been trading under the market pressure since the bears set their foot in the crypto market a few days ago. The prices didn’t show major fluctuations at the start of November and moved in the range of $1.12- $1.18. However, the prices made a good recovery from the 4th of November to the 9th of November when Tezos managed to reach $1.26. Later, the price fell down again with Tezos trading at $1.13. At press time, XTZ is trading at $ 1.24.
The key support levels to look out for lies between $1.08 and $1.16 with resistance at $1.26. If the prices drop they may well stay in the range of $1.0 and $1.1. If the token manages to break resistance at $1.26, the prices may rally to $1.40, $1.50 and $1.60 levels.
Relative Strength Index (14) -66.9476
Stochastic %K (14, 3, 3) -32.4018
Commodity Channel Index (20) -83.1387
Average Directional Index (14) -46.762
Exponential Moving Average (5)- 1.1909
Simple Moving Average (5) -1.1823
Exponential Moving Average (10)- 1.1486
SIX Exchange Lists Income Generating ETP
Yesterday, SIX exchange listed an income-generating exchange-traded product (ETP). The product is based on Tezos (XTZ) token and will be issued by fintech firm Amun AG in partnership with Tezos Foundation.
The ETP will allow investors to earn a passive income via transactions validated on the Tezos blockchain. Also, the product can be used by both retail and institutional investors. As a matter of fact, the Tezos tokens of the ETP are in Coinbase’s custody and the latter is also responsible for staking them.
Will Tezos price manage to break $1.26 resistance? Let us know, what you think in the comments below!
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.