Tezos Pumps On Binance Listing, But What About US Crypto Exchange?

The world’s most popular cryptocurrency exchange, Binance, has listed smart contract-focused altcoin Tezos (XTZ) to its flagship website, causing the price to spike as much as 5% in the first couple hours after a listing announcement was made.

However, Tezos is notably missing from the list of the 30 altcoins Binance US is currently considering for listing, suggesting there may be little hope or at least an extended wait before Binance customers in the US can load up on the altcoin aimed at unseating Ethereum.

Binance Lists Tezos (XTZ), Immediately Pumps 5%

This morning, Binance CEO Changpeng Zhao shared the news that the Malta-based cryptocurrency exchange would be listing Tezos for trading under three crypto trading pairs. Tezos will be paired for trading with Bitcoin, the stablecoin Tether, and the firm’s native cryptocurrency token, Binance Coin – which has been the top performing altcoin of 2019, beating out even Bitcoin itself.

Related Reading | Binance US Evaluating 30 Crypto Assets, Bitcoin and Ethereum Under Scrutiny?

Trading goes live on September 23 at 11:00AM UTC, and users may already begin depositing to their Binance accounts Tezos in anticipation of trading.

Tezos has already started to pump following the listing and is up as much as 5% within the first few hours after the announcement. Tezos was also listed on the San Francisco-based Coinbase at the start of August and trading opened to a 16% rise in value, suggesting that the Binance pump still has a ways to go before the listing rally fizzles out.

But What About US-Based Customers Wanting to HODL?

Tezos has only been listed on Binance’s flagship website – a platform that recently blocked US-based customers from trading or making deposits – and not the recently launched Binance US platform. Customers of the US-based exchange may be left waiting quite some time for Tezos to be listed on the stateside version of Binance.

Binance’s new exchange for US customers not only currently lacks a coinciding Tezos listing, but it’s also not even amongst the 30 cryptocurrency tokens the platform has revealed to be exploring for listing in the future.

While Binance’s move to separate US customers from its flagship website was necessary due to increased pressure from global finance market regulators, this latest Tezos listing demonstrates the glaring gap that could form in product offerings between the two platforms.

Related Reading | Can Coinbase Capitalize On Binance Becoming Less Attractive To US Crypto Investors?

US investors – who make up the lion’s share of the crypto market – would need to search elsewhere, such as Coinbase, to load up on Tezos. The more situations like this arise, the more likely crypto investors in the United States will turn to Coinbase instead of Binance – putting the leader’s stronghold over the market at risk.

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