On Thursday, October 11th, 0x (ZRX) experienced a significant price increase after the crypto token got listed on the Coinbase Pro trading platform. According to the Coinbase Pro general manager David Farmer, trading activities with the new 0x (ZRX) pairs will only be available within a day.
Although the cryptocurrencies market is experiencing another significant correction, the inclusion of the ZRX token on Coinbase Pro boosted the digital asset’s market capitalization, as well as its value against the US Dollar. At the moment of this writing, 0x (ZRX) totals a market cap of $412,261,486. Also, at this moment, 0x (ZRX) trades at $0.76 after surging by about 15% in the last 24 hours.
The exchange of 0x (ZRX) for USD, EUR, or Bitcoin (BTC) on Coinbase platform would become available after the digital asset reaches a specific level of liquidity. However, it won’t yet be available on the regular Coinbase or in the crypto exchange’s wallet app, according to the statement, published this Thursday.
Coinbase Pro platform added 0x (ZRX)
“We will accept deposits at least 12 hours before enabling commerce. Once sufficient liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC trading pairs. 0x (ZRX) trading will be accessible to users in most jurisdictions, but initially will not be available to residents of New York State,” said David Farmer, Coinbase Pro General Manager.
Trading pairs involving 0x (ZRX) would be in a limit mode for a minimum of 10 minutes. Finally, all the trading options will be activated, with all the services of the platform, as well as limit orders, market orders, and scheduled purchases or sales.
0x project is a decentralized protocol based on Ethereum (ETH) network. In August last year, it raised $24 million during its Initial Coin Offering (ICO), despite criticism regarding its protocol. Back then, the researchers from Cornell Tech carried out an investigation and pointed out some shortcomings, both in the cryptocurrency and the 0x protocol.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.