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About ZRX

0x Protocol (ZRX) is a cryptocurrency launched in 2017. ZRX has a current supply of 1.00Bn with 847.50M in circulation. The last known price of ZRX is 0.38583179856 USD and is 0.034104722204 over the last 24 hours. It is currently trading on active market(s) with $39.40M traded over the last 24 hours. More information can be found at http://0xprotocol.org/.

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ZRX Price Statistics
ZRX’s Price Today
24h Price Change
+$0.0341047222049.70%
24h Volume
$39.40M28.95%
24h Low / 24h High
$0.21233282 / $0.23211902
Volume / Market Cap
0.120480258549
Market Dominance
0.01%
Market Rank
#205
ZRX Market Cap
Market Cap
$326.99M
Fully Diluted Market Cap
$385.83M
ZRX Price History
7d Low / 7d High
$0.19538837 / $0.24839468
All-Time High
$2.53Jan 10, 2018
All-Time Low
$0.103962Aug 16, 2017
ZRX Supply
Circulating Supply
847.50M
Total Supply
1.00Bn
Max Supply
1.00Bn
Updated Jul 27, 2024 9:37 am
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ZRX
0x Protocol
$0.38583179856
$0.034104722204(+9.70%)
Mkt Cap $326.99M
There's nothing here for now
OTC Weekly Trading Insights (03/12/2024)
OTC Weekly Trading Insights (03/12/2024)
On March 11, Amp ($AMP), the digital asset token used to collateralize payments on the Flexa Network, increased by more than 350% in just twelve hours. The volatile move in AMP price was thought to be caused by a short squeeze. It reached a multi-week high of 0.02429 USDT before quickly dropping back into the 0.01 USDT range. It is currently trading at $0.01425 USDT. The 0x Protocol is an open-source, decentralized exchange infrastructure that facilitates the exchange of tokenized assets across multiple blockchains. ZRX, the 0x Protocol's governance token, has experienced strong market demand since March 9. The high demand was fueled by social media hype claiming that big whales are accumulating large long positions in this token. This week, our desk noticed that on-chain gaming projects are receiving a lot of funding, and investors are lining up to buy gaming project tokens. Yield Guild Games ($YGG) and GALA ($GALA) are the two with the highest volume growth on Convert. Last week, both tokens experienced a more than 200% increase in volume on Convert, as well as an over 80% increase in price. Overall Market The above chart shows the BTC price movement since the beginning of January 2024. BTC surpassed the previous cycle peak of 69,000 USDT set in 2021, reaching 73,000 USDT today, March 12, 2024. Four years ago, on March 12, 2020, the crypto market and the entire financial market experienced one of their most volatile trading sessions in history. Along with the US equity market, which suffered the largest single-day percentage drop since the 1987 stock market crash, the crypto market experienced a massive market crash that day.  BTC price fell 39.4% in one day, from 7,934 USDT to 4,800 USDT. It fell further when the Asian market opened, reaching a low of 3,782 USDT before recovering to the 5,000 range.  ETH's price fell 44.6%, from 194 USDT to 107 USDT. It continued to fall to its lowest point of 86 USDT before recovering above the 100 level. Fast forward to today, BTC has reached an all-time high of 73,000 USDT, while ETH is trading at around 4,000 USDT. According to our analysis, BTC is in the price discovery phase, with 73,000 USDT serving as the new resistance level. This resistance level will not keep the BTC price in this range for long, and we expect it to quickly reach 80,000 once it clears the 73,000 barrier. Options Market The above table shows the 25-delta skewness for BTC and ETH options.  Following the strong break of the previous all-time high of $69,000, BTC experienced some selling pressure, and we see that demand has cooled down. Ethereum, on the other hand, will have its Dencun upgrade on March 13. The Dencun upgrade will significantly reduce gas fees on layer 2 networks, resulting in more on-chain transactions on L2s. However, the Dencun upgrade will not reduce the Layer 1 network gas fee, so users will continue to pay high gas fees for transactions on the Ethereum network. Therefore, we could see fewer transactions on the ETH network and more in L2 networks after the upgrade. Options traders continue to be bullish on Bitcoin, from short to long term.  However, traders have different perspectives on Ethereum in the short and long term. According to the table above, the 25-delta skewness of BTC options is positive across all tenors, with a greater skewness to the upside in long-duration options. That suggests that traders may retreat from their bullish views on BTC in the short term but remain bullish in the long term. The negative skewness of ETH options in the 7-day and 30-day expiries indicates that options traders are more willing to hold a negative delta position in the shorter tenors. In the long-duration ETH options, our desk noticed that the skewness has returned to positive territory. The 180-day expiry ETH options currently have a positive 6.75 skewness, which is similar to the skewness observed in BTC options of the same duration.  Macro at a glance  Last Wednesday (2024-03-06) The Bank of Canada maintained its interest rate at 5.00%, unchanged. Governor Tiff Macklem declined to lay out a rate cut schedule, citing underlying inflation data that suggests a rate cut is premature at this time. In February, ADP nonfarm employment increased by 140,000, falling short of the expected 149,000. The lower-than-expected employment growth suggests that US labour market demand may begin to decline. Last Thursday (2024-03-07) The European Central Bank kept its interest rate at 4.50%, unchanged. The ECB also reduced its annual inflation forecast and hinted that they will have more data in June to increase its confidence in a rate cut. Fed Chairman Powell testified before the House, stating that the Fed does not expect a recession in the United States in the foreseeable future. He also stated that the Fed was close to having enough confidence to cut interest rates. The market is now pricing in the first interest rate cut for the June meeting.  Last Friday (2024-03-08) Average hourly earnings in the United States increased by 0.1% in February, falling short of expectations of 0.2% and January's 0.5% increase. Slower hourly earnings growth reduces consumer demand in the United States, resulting in lower inflationary pressures on goods and services. The US unemployment rate unexpectedly rose to 3.9% in February from 3.7% in January. The unexpected change in the unemployment rate indicated some extent of labour market rebalancing. On Tuesday (2024-03-12) In February, Germany's CPI increased by 0.4%, up from 0.2% in the previous month. The annualized CPI growth rate was 2.5%, down from 2.9% in January. The US CPI increased by 3.2% annually in February, exceeding the forecasted 3.1% and January's 3.1%. Core CPI growth was 3.8% annually, higher than the expected 3.7% but lower than January's 3.9%. The higher-than-expected CPI readings caused some volatility in the US futures markets. The hot CPI readings, however, did not change the market's view of the Fed's June rate cut. The S&P 500 index rose 1.12%, the Nasdaq index rose 1.54%, and the Dow Jones industrial average index rose 0.61%. Along with the strong US equity market, Bitcoin reached an all-time high of $73k after the market opened and was heavily sold afterwards. The Bitcoin price fell 6% to $68,620 intraday before recovering from the low and now trading at $72,030. Convert Portal Volume Change The above table shows the volume change on our Convert Portal by zone.  This week our desk observed massive trading demand on Gaming and Infrastructure zones.  In the last seven days, the Gaming Zone has emerged as the most popular area. The trading volume increased by 89.8%, primarily due to high demand for Yield Guild Games ($YGG) and GALA ($GALA). The Infrastructure zone also experienced a 50% increase in trading volume on our Convert Portal. Livepeer ($LPT) and Render ($RNDR), both of which focus on the DePin area, are the two main contributors to this high growth volume. Our desk also observed that demand in the Meme zone has decreased by 25.9%. Following the stunning 1,182% volume increase last week, the FOMO (fear of missing out) sentiment subsided. Our desk noticed that most flows in the Meme zone seemed to be skewed towards cashing out. Why trade OTC?   Binance offers our clients various ways to access OTC trading, including chat communication channels and the Binance OTC platform (https://www.binance.com/en/otc) for manual price quotations, Algo Orders, or automated price quotations via Binance Convert and Block Trade platform (https://www.binance.com/en/convert) and the Binance Convert OTC API.  Email: [email protected] for more information. Join our Telegram (https://t.me/BinanceOTC) to stay up to date with the markets!
Mar 13, 2024 4:20 pm

Frequently Asked Questions

  • What Is 0x (ZRX)?

    0x is an infrastructure protocol that allows users to easily trade ERC20 tokens and other assets on the many different blockchains (including Ethereum) without relying on centralized intermediaries. It is a protocol for decentralized exchange.

    0x achieves this decentralized exchange functionality using a collection of open-source, publicly auditable smart contracts that work together to produce a flexible, low-friction trading protocol that developers can easily weave into their products.

    The protocol is used by companies building web3 apps such as wallets, DEXes, portfolio trackes, and others. It is a used by hundreds of developers for their projects. The protocol has facilitates over $200B in trading volume since its inception. One can track its usage in its dedicated https://explorer.0x.org/.

    The protocol is powered by an ERC20 governance token known as ZRX. ZRX holders can participate in protocol governance, having direct power over protocol changes and its community treasury.

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  • Who Are the Founders of 0x?

    0x was founded in 2016 by Will Warren and Amir Bandeali. The two co-founders continue to serve the platform, with Will Warren as 0x's CEO, whereas Amir Bandeali is CTO.

    The platform launched following a successful initial coin offering (ICO) in 2017, during which it raised a total of $24 million — with support from prominent investment firms including Polychain Capital, Pantera Capital and FBG Capital.

    Prior to the sell-out ICO, Warren worked in several research roles and briefly held the role of technical advisor to Basic Attention Token (BAT). Bandeali, on the other hand, graduated from the University of Illinois with a BSc in Finance and held several trading positions before co-founding 0x.

    Now the team is composed of more than 30 individuals, including engineers, researchers and designers who work to update the platform and keep it running smoothly.

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  • What Makes 0x Unique?

    Unlike many other Ethereum decentralized exchange protocols, 0x supports both fungible (ERC20) and non-fungible (ERC-723) tokens. This means it can be used for the permissionless trading of a wide range of assets, giving holders a way to buy, sell and exchange the vast majority of Ethereum assets through more than a dozen different apps.

    The 0x protocol can be applied to a wide range of use cases, including eBay-style marketplaces for digital goods and services, OTC trading desks, exchange functionality for DeFi protocols and plain-old decentralized exchanges.

    Although 0x can be used to build highly flexible exchange products, it can also be built into products where asset exchange is a secondary feature — such as for in-game purchases and portfolio management platforms.

    On the 0x protocol, liquidity takers pay a fee in the form of ZRX tokens — this fee is used to incentivize market maker (relayer) liquidity. Users also need to pay a protocol fee in the form of Ether (ETH), which is used to pay for the gas used in any transactions they complete. As an open-source protocol, 0x does not receive any share of this revenue, and is instead supported by ZRX tokens unlocked as team and developer incentives — along with its initial ICO funding.

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  • How Many 0x (ZRX) Coins Are There in Circulation?

    Like many digital assets, the ZRX token has a fixed maximum supply that will never be exceeded. This is set to 1 billion ZRX. Right now, around three quarters of this maximum supply is already in circulation, and just a small fraction of this is locked up for staking rewards.

    Unlike many protocols, 0x has never publicly described the emission rate for new ZRX tokens, making it difficult to say how long it will take until the circulating supply is fully diluted. But with 50% of the circulating supply released when the token launched in August 2017 and 75% of the supply released as of October 2020, this indicates it may achieve full dilution in the early 2020s.

    As per an early blog entry by 0x CEO Will Warren, half of the total ZRX token supply was sold to investors in the 2017 ICO, whereas 15% each is reserved for the 0x core development organization and external project development fund, while a further 10% is reserved for the founding team with a four year vesting schedule and one year cliff, and the remaining 10% is retained for early backers and advisors.

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  • How Is the 0x Network Secured?

    0x is built on top of the Ethereum blockchain. As a result, it is protected against attacks by the combined efforts of the massive Ethereum miner and node network.

    As for the underlying smart contracts, version 3 of the protocol has been audited by several third party firms which checked to see if there were any underlying vulnerabilities, backdoors and redundant functions, including ConsenSys Diligence — no major issues were found.

    However, a vulnerability was found in the v2.0 smart contract, which was later patched by the 0x core team. This vulnerability was detected by an independent researcher and was not exploited. 0x continues to operate a generous bug bounty, to help detect and patch any issues before they can be exploited.

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  • Where Can You Buy 0x (ZRX)?

    ZRX is currently available to trade on well over 200 different exchange platforms, but the most popular ones include Coinbase Pro, Binance and BitMax. It can currently be traded against a range of other cryptocurrencies, including Bitcoin (BTC), Tether (USDT) and Ethereum (ETH), as well as several fiat currencies, including U.S. dollars (USD), euros (EUR) and South Korean won (KRW).

    Looking to convert your fiat to crypto? Find out how.

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  • What is the all-time high price of 0x Protocol (ZRX)?

    The all-time high of ZRX was 2.53 USD on 2018-01-10, from which the coin is now down 84.74973128221343%. The all-time high price of 0x Protocol (ZRX) is 2.53. The current price of ZRX is down 84.74973128221343% from its all-time high.

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  • How much 0x Protocol (ZRX) is there in circulation?

    As of , there is currently 847.50M ZRX in circulation. ZRX has a maximum supply of 1.00Bn.

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  • What is the market cap of 0x Protocol (ZRX)?

    The current market cap of ZRX is 326.99M. It is calculated by multiplying the current supply of ZRX by its real-time market price of 0.38583179856.

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  • What is the all-time low price of 0x Protocol (ZRX)?

    The all-time low of ZRX was 0.103962 , from which the coin is now up 271.12771835863106%. The all-time low price of 0x Protocol (ZRX) is 0.103962. The current price of ZRX is up 271.12771835863106% from its all-time low.

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  • Is 0x Protocol (ZRX) a good investment?

    0x Protocol (ZRX) has a market capitalization of $326.99M and is ranked #205 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze 0x Protocol (ZRX) price trends and patterns to find the best time to purchase ZRX.

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