Coinbase Custody announced the addition of a Tezos (XTZ) baking option, allowing users to both store their assets in an offline wallet, and also register the assets with bakers to receive rewards. Baking is a way to use tokens that are otherwise left idle. Baking involves a delegated entity that produces blocks, as well as locking in tokens for a predetermined period.
The rumors of Coinbase Custody adding a baking mechanism circulated in the past days, boosting the general revival in XTZ prices. The rally extended following the official confirmation of the service.
XTZ traded at $0....