As Binance Coin (BNB) takes the lead, 0x is now ranked second as the token having the largest market cap, after trading close to the $1 level.
The sharp increase in the price of 0x (ZRX) after its listing on Coinbase’s main page took the token close to the top based on market cap, next to Binance Coin (BNB). 0x has proved to be one of the post-ICO tokens with a lot of value.
0x (ZRX) Price Today – ZRX/USD
0x now shares top spot with some of the well-respected Ethereum-based projects and has showcased itself as one of the real-world applications of the blockchain. Some other well-known decentralized exchanges banks on the 0x project.
Coinbase, while still very much dependent on the Binance volumes, possesses about 4.5% of all ZRX trading volumes. This is one good reason why ZRX rose, going above the curve, even though Coinbase adoption is still slim.
At a point, ZRX rose above $1.30 and peaked around $1.07. After a while, it slipped towards $0.93. As experienced in the process of adding other assets, a continuous increase in price will not be ensured even if it is listed on Coinbase, even the Ethereum Classic (ETC) price slid below $10.
In addition, the listing of ZRX is coming at a time when the number of Coinbase customers is reducing, and the market is still not sure of which direction they should follow. ZRX being the lowest priced asset, may experience a limited hunger for tokens.
Back then, addition of coin has been attributed to the team members striving to push their project. This is exactly the case for Litecoin, where founder Charlie Lee, after leaving Coinbase as their director of engineering, proposed the coin.
Still ZRX’s listing on Coinbase has given it some great hope, which indicates that a bull run may be happening in a few days.