0x, DeFi, Investing, Investing Ideas, NEWS, ZRX February 5, 2021

ZRX Token from 0x Protocol Leads Top Gainers of the Week

by Average Joe Crypto
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ZRX, one of my favorite projects from the past is breathing new life.

Over the past 24 hours, and 7 day period, ZRX has led all other crypto tokens for percentage gains over at Coinmarketcap.com.

Funny enough in my 2021 Stock and Crypto Outlook post from Janruary, I mentioned the 0x project, and that I still had faith in it. I believed it was undervalued. I have to humble brag here, because 0x and Polkadot were the 2 projects I specifically mentioned in my post. Both have had stellar gains since that post. Of course, other tokens have too. But it is nice to see that solid projects, with strong teams, are seeing some great returns.

My most popular post ever, was written a few years ago. It was a deep dive into ZRX. At the time much speculation centered on which coin that Coinbase would add next. Because you could only buy a few things, and the ones Coinbase added were expected to pop in price. I figured that ZRX would be next, which was basically correct. They added a few, including ZRX.

0x was originally a decentralized exchange project, (DEX,) that runs on Ethereum. But it has morphed into an even more useful protocol with the emergence of DeFi. At its core, the 0x protocol allows interoperability between different decentralized applications and exchanges. 0x may find even more success now as the DeFi sector continues to grow. As long as there is a need for lower gas costs and multiple price providers, then liquidity aggregators, like 0x, will have a void to fill.

The ZRX token has added staking capabilities. When the token first launched there was some speculation on its use and value. Now market makers are able to earn Ethereum for liquidity providing services. ZRX token holders benefit by delegating their tokens using pools.

ZRX’s current 24-hour volume of $1.59 billion is actually bigger than its market capitalization of $1.38 billion.

The all time high of ZRX was back in Jan of 2018 at $2.36. I just read this Yahoo Finance article post today, which got it wrong. They said the all time high was last Friday, which it was not. It has not yet hit the previous high, which was achieved during the crazy bull market of late 2017.

I still think that 0x and the ZRX token have a bright future. It is great to see some of these projects that are years old, around still, and growing.

ZRX Price Predction

I do not have any current price predictions for ZRX. I would guess it eventually goes past the all time high, but not sure where it stops. I need to read up and get more involved in the whole DeFi area to get a better sense of the value. However, many intelligent crypto folks think that DeFi is the future. I have seen some crazy price projections for the sector.

(Edit 2/10/21,) If I had to predict, or guess, a target price for ZRX it would be $3 to $4 with everything being optimal. 

If you are looking to buy ZRX, you can do so on most major exchanges. It is difficult to guess how high the price will go here before pulling back or consolidating. I hesitate to tell someone to buy at this level. But ZRX could also be poised to go even higher. Especially as people pile into DeFi. 0x is one of the older projects and the coin is lower priced than many others in the space.

As always, none of this is advice. Do your own research. Good luck out there!


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