0x (ZRX) has been very impressive in the market most of the month of July and the price continues to hold steadily despite the unstable markets. Since gaining entry into the Korean market and a possible inclusion on Coinbase listing plans, ZRX Token continues to make its market inroad steps catching the eyes of many crypto traders.
The ZRX coin price has been holding past the $1 mark in July with indications that it might burst the current resistance and head to the $5 mark threshold. Born out of the need to put exchange security breaches at the back of investors, Ox is the first of a kind decentralized exchange out.
0x (ZRX) offers Decentralization of Exchanges to Lower Risks
In a centralized exchange setting, all the all private keys and related data are stored in a central depository that is gives hackers a central attack point which is what happened to Mt. Gox and BitGrail among the recent hacks in the blockchain history.
Simply put, ZRX Token is a communication enabler for Ethereum ERC based tokens to communicate seamlessly with one another. This makes it easy for users to build their dApps and easily integrate them with exchange platforms and run Ethereum trades. Once you build your own app on the ecosystem, it is up to you to determine the price of your services and this creates a liquidity pool.
The increased popularity of 0x is the ability to allow zero fees on applications built on its protocol. With low transactions fees are spread to the user making it the best choice for developers who want to offers affordable services to their users. Apart from the low gee, Ox has attracted support from reputable exchanges
OX (ZRX) Entry into the Indian Market
After the announcement that Unocoin, an Indian based exchange is set to add Ox on its decentralized platform, UNIDAX the coin visibility keeps on increasing. Unocoin is a decentralized exchange and listing of 0x is a major boost for both platforms. During the inking of the deal Unocoin stressed that:
“Unocoin Digital Asset Exchange (UNODAX) is now supporting the building of 0x (ZRX). In the 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat.”
The listing and additional investor confidence has been able to help the fast rising coin to gain momentum and its stability has helped the ZRX price to hold strong in a market that is still shaky not only for Altcoins but mainstream coins as well.
With high hopes of the coin getting listed on Coinbase, a lot of activity and adoption has been noted on the 0x platform. In the event that the listing goes through, the value of the token is up bound. ZRX is one of the most sought after security tokens and listing on the exchange will be a major boost.
0x Last 24-Hour Market Recap
0x (ZRX) price has been able to hold since it started attracting the attention of major exchanges and the community appears to be highly supportive. The coin rose to the limelight by end of Q2 and is making its inroads in the market and is placed number 23 by market cap that stands at $661.9 according to CoinMarketCap.
At the time of compiling this report, ZRX token was trading in the double digit zone at $1.24. This is after gaining 14.13% against the American dollar, 11.54% and 13.47% to Bitcoin and Ether respectively. Bithumb on the other had is the highest volume mover of the day with 67.73% with ZRX/KRW and ZRX/BTC pairs being the most popular.