It is clear that Coinbase is among the most respected and influential exchanges in the crypto-sphere and any coin or token it supports ends up pumping its price. The last twenty four hours have seen the 0x (ZRX) price surge after a rumor that the coin is headed for the exchange listing.
Unverified screen shot have emerged on social media and other online publications showing ZRX appearing on the Coinbase tax page and this has pushed the coins price to a new high in the last 7 days. Despite the markets’ getting stable, ZRX coin gains have raised many questions and its accidental inclusion on the exchanges has raised many questions.
Unanticipated 0x (ZRX) Price Swing
The appearance of the coin on Coinbase tax gain/loss has sparked heated debate as to whether the inclusion is legit or just a mistake on the part of the exchange. Many crypto enthusiasts and the 0x community members have been waiting for the coin to be added on the prestigious platform after earlier indications that the exchange was exploring ZRX addition.
Whether it is a visual effect or a mistake, it has come to the fore that the market can be easily manipulated by unconfirmed news. However, the ZRX holder has all the reasons to smile after the price spike and additional attention the coin has gathered in a short period.
As much as the rumor has added more visibility to ZRX, it could ebb away Coinbase respected across the crypto verse as the “mistake” could have negative perceptions to the exchange among some high profile investors. This could also trickle down to affect the prices of major digital assets listed on the platform in the long run.
Coin Base Goose Chase, a Hoax that Never was
Displaying ZRX or any other coin does not mean they have gotten the listing nod yet. The display was to display its new Toshi wallet and it is not something live on their system. The screen shots appear to be for display purpose and listing them soon could be farfetched.
The hoax has however seen the coin trade in the double digit territory for the past 24 hours and at the time of reporting, the XRZ price stood at $0.742248 with gains of 12.53% to the dollar, 12.25% to BTC and 12.60% against Ether. The same trading session has seen Binance command 69.68% of the total volumes with most traders going for the ZRX/BTC pair. Below is the 0x Hoax screen shot circulating in the media:
0x (ZRX) On-Form Performance
0x (ZRX) has been gaining steadily over the last few days after Circle, a Goldman Sachs backed startup indicated it is adding the coin to its portfolio alongside Qtum, Stellar Lumens and EOS. The boost has seen investor interest shift to the Ethereum based peer-to-peer coin that offers seamless ERC20 token trading in the market.
Circle seeks to simplify crypto usage and seeks to make it easy for anyone interested in the space to have the best experience interaction wit he unique class of digital assets:
“As we introduce new crypto assets, we also recognize the need to educate our customers and bring clarity to this fascinating, yet complex asset class… Accompanied with our simple user experience, this easy to understand content will serve to further our mission of bringing crypto mainstream.”