0x Jumps on Coinbase Listing Rumors

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ZRX, the token of the 0x open protocol that facilitates peer-to-peer exchange of digital assets on the Ethereum blockchain, has risen by circa 12% from $0.67 to a recent high of $0.77 on trading volumes of some $42 million giving it a market cap of $400 million.

The reason is due to a screenshot going around showing ZRX under Coinbase’s tax reports which they automatically prepared for the current listed coins of bitcoin, ETH, BCH, LTC and ETC.

That suggests Coinbase is ready to list ZRX, with this potentially becoming the first ethereum token to be available on Coinbase.

0x’s price action, October 2018.

It would also be the first crypto to be listed on Coinbase under $1, although when exactly they’ll be adding it is unclear, just as it would be the first ICO token to be added.

Coinbase recently stated they will start listing “most digital assets.” They say they will no longer announce far in advance regarding what crypto may be added, but will just list them.

Prior to listing, new potential additions may be seen on the User Interface in the process of adding them, Coinbase has said.

With the screenshot thus adding to speculations that 0x may soon be able to access the biggest crypto-to-fiat pipeline.

0x’s ZRX shown under Coinbase’s tax reports, October 2018.

Balaji S. Srinivasan, Coinbase CTO, recently said that Coinbase sees its mission as taking cryptos mainstream. So they don’t operate at the bleeding edge, but rather focus on cryptos that are ready for prime time so to speak.

An ox listing, therefore, may give it a thumb of approval after they launched a new version of their protocol.

We had a test-run of it at the time, and ignoring some aspects that may have been more related to MetaMask, would have given them a rating of 4 out of 5.

That’s because the many decentralized exchanges built on top of it (one of them pictured in the featured image) seem to be operating fairly smoothly from a user-end perspective and do not appear that different from a centralized exchange.

Meaning that a competitive race may now be afoot between the many decentralized exchanges (DEX) as they now finally become a reality thanks to ethereum’s smart contracts.

Copyrights Trustnodes.com

 

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