0x Protocol (ZRX)
What is ZRX(0x)?
Zero may represent nothing as a number, but with 0x, it signifies openness. So, what is 0x? At its core, 0x (ZRX) is an open-source decentralized exchange for Ethereum-based ERC20 (fungible) and ERC-723 (non-fungible) tokens.
Additionally, 0x aggregates liquidity from several decentralized blockchains like Binance Smart Chain and Polygon to provide the best prices with minimal slippage. 0x utilizes auditable smart contracts for fulfilling every trade order, making distributed peer-to-peer exchanging more transparent, frictionless, and cost-effective.
Because 0x is a DEX, it requires computer users, (known as relayers) to provide an order book for traders. Their efforts are rewarded with the ERC20 utility token, XRX, a cryptocurrency also used for platform governance.
The launch of ZRX came as early as 2017, during a period where decentralized exchanges were an obscure concept. Currently, 1 ZRX is worth about $1.15.
Is 0x a good investment?
0x is a good investment for a few reasons. Let’s first consider the advantages of DEXs over CEXs (centralized exchanges). Although decentralized exchanges are largely unregulated and have no liquidity, they compensate for these drawbacks with distinct benefits.
For starters, they are privacy-conscious as traders don’t need to share any personal data to use the exchange. DExs have increasingly become the go-to platform for many crypto traders nowadays. Holders keep their private keys, which is not possible with a centralized entity.
There is also a lower risk of large-scale hacking for this very reason. A decentralized exchange like 0x is likely to have lower trading fees. Like any DEX, 0x incentivizes ordinary crypto enthusiasts through being independent liquidity providers.
Last but not least, ZRX has a fixed supply of 1 billion tokens, with about 845 million presently in circulation. Overall, 0x is one of the key components of the entire Ethereum ecosystem.
Should I buy 0x today: Crypto technical analysis for ZRX
ZRX is worth buying today. Let’s use a simple crossover strategy consisting of two moving averages (MA) to support this theory. The 50-day period will act as our short-term entry signal, while the 200-day period reflects the long-term direction.
Firstly, the 50-day MA will need to have recently crossed above the 200 line. Lastly, price must clearly be above both moving averages, which would suggest an uptrend. As we can observe on the chart, ZRX meets both criteria, meaning it’s a decent time to buy it today.
Will 0x coin price hit $5 in a year?
ZRW launched in August 2017 for $0.18. During the crypto boom later that year and into January 2018, the project’s value peaked at $2.50. The market has come close to this level most recently in April 2021.
Hence, investors would be curious on where 0x’s price could realistically be in a year. The sentiment is clearly bullish since price is above the moving averages. Yet, it’s difficult to predict where price is likely to be despite this evidence.
Hence, to better answer whether 0x can reach $5 in a year, we can observe the forecasting analysis from Digitalcoin.
The site predicts 0x should reach a value of $2 in 2022, which is a fair assumption. While this valuation is a far cry from $5, price can go higher or even lower.
What is 0x’s coin price prediction for 2025?
The weekly chart also suggests bullishness for ZRX, despite a deep pullback when price reached the all-time highs of 2.39$. The market is still well above the moving averages, further confirming the bullish sentiment.
So, it’s likely for price to be higher than its current point, though where could it be by 2025?
Digitalcoin suggests ZRX could be at $3.49 by this time and $5.06 by 2028. These predictions tell a hopeful story for ZRX investors and of the crypto market overall.
The best way to buy 0x
As an Ethereum-based token, ZRX is available for trade at over 200 exchanges such as Coinbase, Binance, Huobi, Bitfinex, Bitstamp, Kraken, and the list goes on. The most popular markets traded against ZRX are USD, USDT, BTC, EUR, and ETH.
Additionally, there are several software and hardware wallets from the likes of Atomic, Ledger, MyEther, Trezor, etc., for securely storing ZRX.