Tezos Jumps 25% on Coinbase Staking, Ethereum Next?

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Summary

Coinbase has not made any announcement they will facilitate ethereum staking, but if they’re doing Tezos, then it can be assumed. They say: “The current estimated annual return for Tezos staking on Coinbase is ~5%. If all of Coinbase eth holders staked, and no one else, they’d receive 13% a year of their eth holdings in eth. Just how many eth Coinbase holds in custody is not too clear because they chop their cold wallet into many small ones. Coinbase says: “Staking lets you earn income with your crypto by participating in the network of a particular asset.

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Tezos has spiked to a recent high of $1.90 from about $1 to currently settle at around $1.23.

That’s after Coinbase announced its US customers can now stake Tezos with them to receive a yearly reward of 5%. They say:

“The current estimated annual return for Tezos staking on Coinbase is ~5%. You’ll see your pending rewards increase in real-time in the app, and once your initial holding period completes (35–40 days), you’ll receive rewards in your account every 3 days.”

Tezos spike, Nov 2019

The news led to one of those classic charts of up and down as markets price-in the new offering. Coinbase says:

“Staking lets you earn income with your crypto by participating in the network of a particular asset. When you stake your crypto, you make the underlying blockchain of that asset more secure and more efficient. And in exchange, you get rewarded with more assets...

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