0x (ZRX), the token of an infrastructure protocol that allows for easy trade of assets on the Ethereum (CRYPTO: ETH) blockchain, is defying the downturn in major cryptocurrencies.
ZRX has spiked 8.55% to $0.84 even as Bitcoin (CRYPTO: BTC), Ethereum, and Dogecoin (CRYPTO: DOGE) traded in the red over 24 hours leading up to early Wednesday morning.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 8.55% |
| 24-hour against Bitcoin (CRYPTO: BTC) | 14.7% |
| 24-hour against Ethereum (CRYPTO: ETH) | 14.8% |
| 7-day | 15.8% |
| 30-day | 13.9% |
|
YTD-performance |
-3.45% |
Trading Volume Explodes
The 24-hour trading volume for ZRX spiked nearly 432% to $608.865 million at press time.
0x Raises $70M In Series B Funding Round
0x Labs said in a blog post on Tuesday that it had raised $70 million in a Series B funding round led by Greylock. Other participants included Pantera, Sound Ventures, OpenSea, Coinbase Holdings Inc (NASDAQ: COIN) and Jared Leto.
The funding will be deployed to fuel the expansion of 0x Labs team and its product and service offerings including a search engine for tokens known as Matcha.
0x On The Web
Web3 development platform Alchemy tweeted on Tuesday that 0x uses its technology to maintain reliable Remote Procedure Call (RPC) connections and to check system health and usage insights.
5. So how does 0x use Alchemy?
To power the next DeX generation, 0x uses:
– Alchemy Supernode, to maintain reliable RPC connections
– Alchemy Monitor, to check system health and usage insights
– Alchemy’s Enhanced APIs, to access higher-level abstractions for blockchain APIs
— Alchemy | We’re Hiring! (@AlchemyPlatform) April 26, 2022
The presence of Leto did not go unnoticed on Twitter.
Maybe not… he’s on the Alchemy team… or advisor team. pic.twitter.com/FADYdAmTVE
— CryptoMonk (∞) + (@CryptoMagi) April 26, 2022
Photo courtesy: James Ackerley on Wikimedia
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>The cryptocurrency market has been underperforming over the past 24 hours and could record further losses soon.
The broader crypto market has entered a bearish trend again despite a good start to the week. The market has lost nearly 5% of its value in the last 24 hours and currently has a total market cap of $1.77 trillion.
Bitcoin is down by more than 5% so far today and now trades around $38 per coin. Ether has also lost more than 5% of its value in the last 24 hours and currently trades at $2,847 per coin.
ZRX, the native token of the 0x Protocol, is the best performer amongst the top 100 cryptocurrencies by market cap. ZRX, alongside STEPN, are the only cryptocurrencies trading in the green zone amongst the top 100.
ZRX has added more than 9% to its value in the last 24 hours, making it the best performer amongst the leading 100 cryptocurrencies.
The ongoing rally is fueled by the news that 0x Labs raised $70 million in a recent Series B funding round. The funding round was led by Greylock and other investors, including Pantera, Sound Ventures, A.Capital, Jump Crypto, OpenSea, Coinbase, Brevan Howard, IOSG Ventures, Reid Hoffman and Jared Leto.
Key levels to watch
The XRZ/USD 4-hour chart is currently positive as 0x has been performing well in the last 24 hours. The technical indicators show that the coin’s performance has been positive in the past few days.
The MACD line remains below the neutral zone but could soon be out of the negative region if the rally is sustained. The 14-day RSI of 55 shows that ZRX is no longer in the oversold region.
At press time, ZRX is trading at $0.83750. If the bulls remain in control, ZRX could rally past the first major resistance level at $0.9149 before the end of the day.
However, the broader market is bearish at the moment, and that could impact ZRX’s performance in the short term. ZRX could slip below the first major support level at $0.7341.
Despite the bearish trend in the market, ZRX should comfortably defend its position above the $0.6810 support level in the short term.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Helpful Links
► Website: https://0x.org/
► Whitepaper: https://0x.org/pdfs/0x_white_paper.pdf
► GitHub: https://github.com/0xProject
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Socials
► Official Blog: https://blog.0xproject.com/
► Twitter: https://twitter.com/0xproject
► Discord: https://discord.gg/d3FTX3M
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Project Overview
0x is a decentralised exchange protocol that enables the peer to peer exchange of Ethereum based cryptocurrencies.
This is a protocol that wants to streamline this trading with off-chain orders using Ethereum powered smart contracts.
Technology
When you trade tokens on the 0x protocol, you are doing so on an off-chain relay.
This is different from other DEXs where the transactional smart contracts are executed on the main chain.
Relayers are the key to 0x’s off-chain transactions. They are responsible for broadcasting the orders across the public or private order books, as well as bringing liquidity to the network by hosting the order books.
An order is only filled once the order taker has submitted their own signature along with the order maker’s to the exchange’s smart contract. The Relayer is then compensated for their work by way of ZRX tokens.
When these trades are sent, they are called “broadcast” orders. Anyone can send, see and fill these orders.
0x has built a governance component into their network. Those who hold the ZRX token are able to vote on certain proposals that will affect the blockchain.
Another benefit of the token is that the smart contracts are open source and the protocol is application agnostic.
Another additional feature that is included with 0x is their “asset swapper” and the related 0x instant
Token
The 0x protocol has a native currency which is called ZRX.
ZRX tokens are used to pay the relayers in order to route the orders. They can also be used in order to vote on protocol improvements.
The 0x team issued these tokens in a crowdsale ICO that took place way back in 2017. They were able to sell 500 million ZRX tokens at a price of 7 cents each.
The ICO was well distributed and spread out across over 13,000 Etheruem addresses.
Team, Partners & Development
0x is based in San Francisco and there are over 38 core members. They have backgrounds ranging from Engineering to Finance and software development.
The team has been quite active working on their protocol. This is something that you can verify by diving into their GitHub repository.
0x has a pretty strong advisory pool. These include the likes of Fred Ehrsam who is a co-founder of Coinbase as well as Joey Krug who is the Pantera Capital Co-CIO.
Trading & Wallets
ZRX is listed on the likes of Binance, Coinbase Pro, MXC, BitMAX etc.
Volume is well spread out across these exchanges which means that the liquidity is not dependent on a singular market.
Order book liquidity is also strong which you can confirm by looking at the ZRX / BTC order books on Binance.
ZRX is an ERC20 token which means that you have quite a large array of wallets that you can use – anyone that supports Ethereum.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#0x #ZRX #crypto #Ethereum #Review #ERC20 #Fintech #Binance #blockchain #DEX #trading #cryptocurrency #Exchange
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NEW YORK, July 15, 2021–(BUSINESS WIRE)–tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that the tZERO Crypto app, a cryptocurrency trading platform, now supports Dogecoin (DOGE), USD Coin (USDC), and 0x (ZRX), expanding its cryptocurrency offering to a total of ten coins.
tZERO CEO Saum Noursalehi stated, “Today’s announcement in supporting three new coins comes off the heels of the tZERO Crypto app update, which included higher buy limits, additional cryptocurrencies, and faster settlement times. We plan to continue to grow our offering, and improve the functionality and features of the app as we build out our unified product to trade all assets.”
Dogecoin (DOGE)
Dogecoin is a decentralized, peer-to-peer cryptocurrency commonly used for tipping content creators on social media platforms. Founded in 2013, Dogecoin is based on a popular meme of a Shiba Inu dog. One of the key differences of Dogecoin is that it is intentionally abundant – there is no limit to the number of Dogecoin that can be created.
USD Coin (USDC)
USD Coin is an open-source, smart contract-based stablecoin that is backed by the U.S. dollar and issued by regulated financial institutions. USD Coin is a price-stable cryptocurrency – each USD Coin is valued at one U.S. dollar.
0x (ZRX)
Built by 0x Labs in 2017, 0x is a protocol that facilitates the peer-to-peer exchange of Ethereum-based assets.
Launched in June 2019, the tZERO Crypto App allows investors to buy, sell, and hold Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), Dogecoin (DOGE), USD Coin (USDC), 0x (ZRX), Bitcoin SV (BSV), Basic Attention Token (BAT), and Ravencoin (RVN). The tZERO Crypto app is available for download on iOS and Android devices. For more information, visit https://www.tzero.com/trade-assets.
About tZERO
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
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tZERO Crypto, Inc. is a wholly owned subsidiary of tZERO Group, Inc. tZERO Crypto, Inc. and tZERO Group, Inc. are not registered broker-dealers, underwriters, investment banks, or investment advisers, and are not providing brokerage, investment banking or underwriting services, recommendations or investment advice to the users of the tZERO Crypto app. No broker-dealer affiliate of tZERO Group, Inc. is involved in the transactions and services offered by the tZERO Crypto App. tZERO Crypto, Inc. is licensed as an authorized money transmitter in every jurisdiction in which it does business that requires such authorization. tZERO Crypto relies upon third-party services to provide fiat and virtual currency custody services to its customers. See the legal disclosures and list of tZERO Crypto, Inc.’s licensing authorities on https://www.tzero.com/crypto-app/licenses.pdf for more information.
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