Some may say I am the ultimate HODL warrior as I keep every single coin until will get valuable or self-distruct. Not all the coins and tokens in my portfolio are obtained through investments, some were earned through the Coinbase Earn program. This is the case of 12 0x (ZRX) coins sitting comfy in my account since the beginning of 2019. I had to watch 3 lessons about 0x and I received 4 ZRX for each. It was then when I learnt about the 0x open protocol and the ZRX coin
Why talking about Ox now? Because in the last month the 0x (ZRX) started to gain power and momentum, and from £0.15 per unit, it tripled the value. Since reaching £0.45 on the 8th of May, the price went down but maintained a stable course between £0.25 and £0.30. It slowly gained some value and 2021's value is at $0.50 per unit.
What is 0x?
0x is an open protocol on the ETH block-chain that enables the peer-to-peer exchange of assets launched in 2017. The protocol is available world-wide, being used to service a wide variety of markets ranging from gaming items to financial instruments.
The project aim is to provide free platform for developers and organisations, where they can use all the tokens issued within the ETH block-chain. The ERC-20 platform was designed to be easy to scale and use for developers with low resources, offering exchange, data storage and market predictions. Will Warren and Amir Bandeali, the co-founders of ZRX, imagined the platform as one which would include the transaction of all kind of assets, such as fiat money, digital assets, or precious metals. They wanted to fix the inefficiencies of decentralized exchanges and the inability of various exchanges to work together.
How 0x is powering decentralized exchange?
The 0x protocol is powering decentralized exchange by making the process significantly faster while eliminating the transaction fees. Buyers and sellers are connected directly, and the 3rd party is being eliminated, making the cost of the transaction cheaper than usual. If most cryptocurrency exchanges will follow the established centralized trading model, the 0x infrastructure was created for the emerging crypto-economy.
The 0x platform enables markets to created what couldn't have existed before, helping more assets to become tokenized. The direct result will be public block-chain empowerment, and the opportunity to establish more efficient, transparent, and equitable transactions. The 0x offers support and facilitates the decentralized exchange of a growing number of Ethereum-based tokens, including all ERC-20 and ERC-721 assets.
The flexible integration of his modular system, makes 0x a powerful tool what enables businesses to add exchange functionality to any product or service. The 0x free, open-source infrastructure that developers and businesses utilize is currently lowering the barriers while creating a networked liquidity, which allows users and businesses to access a shared pool of digital assets.
0x Core values and vision
The project committed to do "the right thing" for the crypto-market and pledged to act only in the best interest of peers, community, and society. To achieve the goal the organisation set high-impact targets which are already outputting excellent results.
Being such an impressive project, the main target is set on long-term, that's why the 0x Team is focusing on raising awareness on how the friction-less exchange and to fight against those who will claim that this platform is too disruptive. Since launching 0x in August 2017, the organisation kept growing, in order to align to the core value and promote the 0x vision, the world where all assets are tokenized.
The new infrastructure is free to use and run on open source code, stripping away layers of middlemen, providing individuals with better financial rewards. The core idea behind the 0x project will always be to incorporate and create public infrastructure, making assets more accessible and empowering enterprising teams to build a new financial system.
ZRX Token
The ZRX Token is the coin used by the 0x platform to make transactions, earn liquidity and rewards or to use for staking. The ZRX is an ERC-20 token designed to power various forms of decentralized exchanges (DEX). As opposed to centralized exchange, which requires assets to be deposited in exchange wallets, a DEX user maintains custody of their assets. This key difference removes a key incentive for hackers. 0x liquidity providers are entitled to receive rewards in exchange for their activity, which is crucial for the good functioning of 0x markets.
In order to collect these rewards, they need to stake ZRX tokens. Every 7 days, all protocol fees are accumulated into a unique pool. At the end of the epoch, all rewards are automatically distributed to staking pool based on a formula. Rewards are denominated in ETH.
The price of ZRX didn't fluctuated much since the 2017 launch but it kept the growing pattern stable. The starting price was close to £0.08 and peaked at January 2018, reaching the all time high off £1.87. The rest of 2018 was downhill, with values around £0.15 per unit.
In 2019 the price fluctuated slightly, without any major price surge. ZRX seems to gain power in 2020 and looks rejuvenated, reaching £0.45 earlier in May, and keeping the value close to £0.30 for the rest of the time. 2020 was a time of ups and downs while 2021 looks promising, at $0.50 per unit
ZRX price predictions
0x price per unit is £0.27 ($0.33) with a 24-hour trading volume of $52,625,705. The ZRX price is down -0.1% in the last 24 hours.
It has a circulating supply of 660 Million coins and a max supply of 1 Billion coins and Binance is currently the most active market trading it.
The ZRX is seen as a token with potential, and users are enthusiastic about the Ox project and its uniqueness. CryptoGround believes that ZRX is performing good and might reach $0.59 by the end of 2020. They even gave a long term prediction saying that 0x might reach $2.49 by 2025.
Trading Beasts have a very optimistic prediction for ZRX, where they believe that 0x might reach $1 by the end of 2021.
Coinswich detailed the 0x price prediction, after considering recent upgrades and listings, which are leading 0X to be a better tool for investors. If the ZRX will continue it's progress, and the data infrastructure will innovate the ecosystem, than the token may soon rise above $1.
ZRX might climb up the rank in market capitalization ladder and in a time frame of 5 years might reach $9.125, which might happen because of a high rate of ZRX adoption
In the next decade, the ZRX future might be noteworthy as it might get ahead of its peers by going through innumerable integrations and partnerships with the largest financial institutions from all across the world. By 2030, ZRX might touch $15
Conclusion
ZRX maintained a steady course during the Covid-19 pandemic, and showed power to improve. As more will move to digital markets because of the current situation, the unique selling point offered by the 0x project and the ZRX will attract more users to use the infrastructure. With the all time high at £1,87 and a today price around £0.30, ZRX looks like a good investment for medium to long term. Even if the above predictions are looking too optimistic, I am confident that ZRX will break the all time high in the next 2 years. The reason behind the rise will be the integration in the market and the constant improvement of the ecosystem.
At the moment, I keep my ZRX tokens on Celsius, earning a small interest in CEL, while waiting for a price surge. I think that $5 per unit will be a price that will make me consider selling.
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