Binance.US Adds TEZOS in Latest Listing Amidst Ongoing Crypto Market Crisis

News / 16.03.2020
  • TEZOS gets listed on Binance.US for the trading parts XTZ/USD and XTX/BUSD
  • The Binance effect is yet to boost TEZOS price as is the case for past listings

 TEZOS was looking at possible parabolic Bull Run before the crypto market crash.

On March 15, 2020, Binance US announced TEZOS (XTZ) as their latest listing in more than two weeks, for the trading pairs, XTZ/USD and XTZ/BUSD that will open on March 16 from 9:00 am EST or 6: 00 am PST.

Binance. US users can immediately start USD, BUSD or XTZ deposits into their wallets ahead of live trading time, which will also enable withdrawals. The exchange has also enabled several payment methods, including debit cards, ACH, or wire transfers. 

“To deposit and trade USD for XTZ, you will need to pass a fiat verification after completing basic and advanced verification.”

Binance.US is Binance’s operating exchange in the United States, run by the BAM Trading Services. It has fewer listings due to jurisdiction limitations and financial laws but is otherwise similar to Binance in its trading aspects.

The news comes a feBinance.US Adds TEZOS in Latest Listing Amidst Ongoing Crypto Market Crisis.

w days after Tezos partnered with the crypto payment platform Crypto Earn, allowing users up to 6% per annum on XTZ deposits and up to 8% for private users.

TEZOS Prices Are Yet To Be Boosted By the “Binance Effect”

The announcement comes amidst the ongoing crypto market crisis, caused by oil prices crash and worldwide coronavirus fears. XTZ was among the top 10 loser altcoins, having dropped by 29% in 24 hours.

Binance has a long history of boosting the valuation of a cryptocurrency once it is listed on its platform. Investors have, in the past, noticed that a coin’s value could spike by 80% immediately after being listed on Binance.

The aftermath, which has since been dubbed as the Binance effect, boosts prices as Binance is the world’s biggest exchange in terms of trading volume. But then, in this devastating state of the crypto market that has even seen the price of Bitcoin drop below the $5000 mark, the effect might be delayed.

Since the announcement, about 22 hours ago and at the time of writing, there is no notable upsurge activity in its price ($1.21) that indicates the new development is boosting traffic to its trading pairs on Binance.

TEZOS Performance Was At Its Peak before the Market Crash

A week prior to the crash, TEZOS had a stable week with prices ranging at between $2.76 and $2.60, with two surges above the $3 mark.

However, after the crash, TEZOS prices declined to below the $2 mark, a territory that it has maintained since.

TEZOS also recorded its highest price of the year $3.92 on February 19, staging a parabolic bull run, following a number of optimistic developments in the crypto market, before the oil prices and the crypto market crash.

The crypto market, which rarely follows other market patterns, is bleeding alongside every other stock market around the world. Many people assumed cryptocurrencies would become a safe haven for investors, but the exact opposite happened, making more to doubt the value of the industry as a whole.

Source: Cryptopress.

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.