0x (ZRX) – is an open and permisionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. 0x allows for the transfer of not just currency but also tokenized assets like securities, derivatives and other tradeable unique tokens.
Recently added to Korean exchange, Bithumb, 0x is set for a good 2018 – as more investors are starting to get involved with this platform. There have been rumors circling the crypto community saying that the 0x protocol will be the next token listed on Coinbase. A placement like this could spike the price value exponentially and add plenty of new investors. Coinbase listings expose tokens to a much wider audience, increasing the long-term prospects of mass adoption.
In Q4 of 2017, Coinbase announced their listing requirements for a token. These requirements include: strong alignment with Coinbase’s mission and values, and engineering and product quality, short and long term operating expectations, an ability to scale, liquidity, global exchange representation and token demand. 0x can qualify for all these requirements as it meets the right digital framework and infrastructure. By creating a standardized protocol for exchanges to operate on, 0x essentially provides the ability for anybody with the prerequisite resources to create an entirely new decentralized exchange platform for themselves. Not to mention, Coinbase recently announced their implementation of Paradex – an elite, peer-to-peer trading platform focused on speed, reliability and non-custodianship that runs on the 0x platform. News of this partnership has already shown massive benefit for the 0x token as it has been one of the better performing coins of the week. The teams both at Coinbase and Paradex are very optimistic about the future as both companies have meat together to discuss advancements in the open financial system.
Statement from Paradex:
“One year ago, this month, we set out to build the best decentralized relayer that empowers users with self-custodianship. A year later, we’re not only extremely proud of what we’ve achieved, but intensely optimistic about where our space is headed. Coinbase was our very first interaction with crypto, our gateway to the world of blockchain. Right from the beginning, they set a bar that the entire ecosystem, Paradex included, has aimed to reach. That drive toward quality, openness and adoption has really served as the foundation to this acquisition.”
Paradex, which has 10 employees and is built on a protocol called 0x, is one of several startups pitching their technology as a way for consumers to get access to lesser known cryptocurrencies. Coinbase calls Paradex a “sophisticated and secure relay platform that will allow our customers to trade hundred of tokens directly from their wallets.”
I just published “Welcome Paradex to Coinbase” https://t.co/MMKyufN3F9
— Brian Armstrong (@brian_armstrong) May 23, 2018
Coinbase currently only trades four cryptocurrencies: Litecoin, Bitcoin, Bitcoin Cash, and Ethereum. The company is cautious in regards to regulatory uncertainty concerning which digital tokens must be registered as securities. Because of this, Coinbase will not immediately make Paradex available to American customers. Users will be allowed to participate with the Paradex protocol once the team at Coinbase makes some “product enhancements.”
We now see the 0x price starting to correct back to the interior support line. With the rest of the crypto market starting to make a strong comeback, It seems that 0x could lead the way in doings so. Looking at the price action over a long-term fit, we can see bullish signals from the 22 and 50 EMA’s crossing through the 200 EMA. THE ZRX market as of now is waiting on an explosive rally of South Korean investment for new listings.
The opening bull run in this prediction could take us towards 19,000 sats. At this key price point area we could see some strong bearish opposition as short term investors take profit, but nonetheless, 0x is set for an overall bullish year. As the price action looms towards the all-time high price point, the loyalty of ZRX investors is being tested.
0x protocol has announced the pending launch of the second version of its decentralized markets protocol which develops an Ethereum-based protocol to enable the creation of decentralized markets for a wide range of products and services. Risks to 0x include competitive pressures and potential main-chain limitations of the Ethereum blockchain, but given the 0x team’s execution on advancements and progression, the ZRX platform can moon.
0x was founded in 2016 to enable online services to provide token trading capabilities to users without the need to hold user funds in custody. With the initial launch of the 0x protocol in August 2017, the project focused on token trading for ERC20 compliant tokens. It crated the concept of a “relayer” – which is an independent online service built using the 0x protocol that essentially trades order books with blockchain. Users are allowed to retain custody of their funds until the trade is executed by 0x. When it comes to a new coin being added on Coinbase, there are many tokens we can choose from. However, 0x (ZRX) seems to have a leg up on the competition.