Despite decaying market conditions, Tezos (XTZ) are receiving a consolation price by Binance.
The cryptoasset has now achieved its highly anticipated addition to the US version of Binance, which is subject to stricter regulation and control. Last year’s dismissal of a class-action lawsuit against the Tezos Foundation did not mean the end of the project’s legal troubles – yet Binance US is joining Coinbase Pro by listing the controversial asset for US customers to trade, displaying full confidence in its legality and long term acceptance.
The exchange is already accepting XTZ deposits for customers eager to trade from the get go. Trading itself will begin shortly – on 9:00am EST. At that point, XTZ withdrawals will also be enabled.
This positive event did little to stabilise the price of the asset. At the time of writing, which is approximately one hour before trading begins, XTZ is the worst performing crypto among the top 25 cryptocurrencies in terms of market capitalisation. This is somewhat expected, as a correction for its massive bull run during the past few months was long overdue.
Unfortunately it did coincide with one of the worst total market crashes in crypto, meaning that people who bought it at $3.80 less than a month ago have seen XTZ’s price drop down to $1.18 as the free fall continues.