Overview
We’ll begin today’s article with an overview of the 0x crypto project by addressing the question, “What is the 0x crypto?” Additionally, we’ll explore the project’s historical evolution and its significance in practical applications. Furthermore, we’ll assess the potential future of the ZRX crypto.
As we shift our focus, we’ll focus on the 0x Protocol token – the ZRX cryptocurrency. Starting with fundamental aspects, we’ll further explore its multifaceted dimensions, clarifying its role and diverse applications. We’ll also analyze the price trends of the ZRX crypto, closely examining significant price levels from its past. In addition, we’ll examine the coin’s tokenomics to verify the tokenomics impact on the $ZRX price. We’ll also use technical analysis (TA) to outline current market conditions and speculate on the ZRX coin price prediction.
Lastly, we’ll look at how Moralis Money facilitates creating your own short-term 0x price prediction based on real-time, on-chain metrics and live price data. This robust tool aids in making informed decisions regarding 0x investments. Concluding our journey, we’ll provide guidance for potential investors in the 0x Protocol token, explaining where and how to buy 0x and acquire ZRX. Rest assured, the process is simpler than expected!
Exploring 0x (ZRX)
As mentioned, we’ll cover the core aspects of the 0x crypto project in the upcoming section. The aspects and subjects that we’ll cover should be enough to help you decide whether you find the project interesting or not. That said, before you invest in 0x, make sure to explore the project deeper.
The best tool to do this is the Moralis Money $ZRX token page, which you can learn more about below. That page also offers links to the project’s outlets, where you can dive deeper into the question, “What is the 0x crypto?” And the project’s documentation is probably the best resource for that purpose:
So, what is the 0x crypto project? Let’s find out!
What is the 0x Crypto Project?
The 0x crypto project is all about decentralized exchange (DEX) infrastructure. This is clearly outlined on 0x Protocol’s official website (see the above screenshot). Moreover, the 0x Protocol acts as a rulebook for trading digital assets on the Ethereum blockchain. Picture this: you want to exchange one type of digital token for another without going through a typical exchange. With 0x, users can make this trade directly and securely in a decentralized manner. It’s akin to a framework simplifying direct trading from digital wallets, eliminating the need for intermediaries. This approach aims to make cryptocurrency trading more efficient and cost-effective.
History
The project created a new X account in February 2023; however, its original channel is also still up and running:
In crypto, six years is quite a long period. So, the 0x crypto project has been through a lot in that time – it has done much more than just launching a new social media account. For instance, it’s also transitioned 0x Protocol, its explorer, and governance from “0x.org” to “0xProtocol.org.”
0x Protocol was established by Will Warren and Amir Bandeali in 2017. The project conducted its initial coin offering (ICO) in August of that year, securing funds to advance its decentralized exchange protocol. Will Warren, a physicist, and Amir Bandeali, a former fixed-income trader, set out to develop a protocol facilitating trustless and efficient trading of Ethereum-based tokens.
The official launch of 0x Protocol took place in August 2017, and after this, the protocol underwent various updates and enhancements. However, its core objective to offer a decentralized framework for exchanging Ethereum-based assets remained the same.
Additionally, the project’s goal has always been to empower developers to create applications on its foundation.
Here are just a few notable milestones and updates related to 0x Protocol:
- 0x Protocol token launch (August 2017).
- V2 launch (March 2018).
- V3 launch (July 2019).
- 0x Mesh (May 2020) – 0x Mesh is a peer-to-peer communication network for sharing orders and liquidity.
- Governance and ZRX staking (2020 – 2021) – The project explored governance enhancements, allowing users to stake ZRX tokens to participate in decision-making processes related to the protocol.
- 6-year anniversary (February 21, 2023).
- V4 launch (April 2023).
- Introducing the 0x community DAO (April 2023).
Why Do People Use 0x?
Users choose to leverage 0x Protocol for a variety of reasons:
- Building a DeFi Dapps: 0x offers APIs (see the above image) that enable decentralized platforms to add trading capabilities for Ethereum-based tokens easily.
- Interoperability: The protocol is designed to be highly adaptable and interoperable. This flexibility empowers developers to construct decentralized applications (dapps) on the 0x framework, encouraging a diverse range of trading platforms and services within the Ethereum ecosystem.
- Open Standard: As an open-source protocol, 0x’s code is transparent and accessible to the public. This openness fosters collaborative efforts within the community, promoting innovation and continuous enhancements to the protocol.
- Reduced Fees: By enabling peer-to-peer trading, 0x has the potential to minimize the fees associated with centralized exchanges. Users can sidestep intermediary fees, engaging in direct trades that may lead to more cost-effective transactions.
- Liquidity Aggregation: 0x permits users to access liquidity from various sources, creating a more efficient marketplace. This aggregation enhances pricing and order execution, contributing to a dynamic and liquid trading environment.
- Smart Contract Flexibility: 0x’s smart contracts are customizable, allowing developers to implement specific features tailored to their dapps. This adaptability ensures the protocol’s relevance across various use cases.
- Innovation in Token Standards: 0x has actively participated in discussions and initiatives related to token standards. This involvement aims to improve standardization and compatibility among different tokens on the Ethereum blockchain.
- Governance Participation: The introduction of governance features enables ZRX token holders to actively participate in decision-making processes related to protocol development and upgrades.
Does 0x Have a Future?
Crypto is evolving fast, and things can change radically, even for the leading projects. However, given the 0x crypto’s proven track record and an increasing demand for DeFi solutions, it’s safe to expect that the project will continue to be around for the years to come.
If nothing else, the ZRX cryptocurrency has a market cap of more than $400,000,000, and there are a lot of traders who wish to trade $ZRX. With that in mind, let’s dive deeper into the ZRX crypto in the following sections!
What is the ZRX Cryptocurrency?
ZRX is the native cryptocurrency associated with 0x Protocol – a decentralized exchange (DEX) protocol operating on the Ethereum blockchain – as presented above. The coin lives on the Ethereum blockchain, where it follows the ERC-20 token standard.
So, if you haven’t realized it yet, anyone interested in this project can invest in 0x by buying $ZRX.
ZRX’s Role Within 0x and Its Use Cases
ZRX plays various roles within the 0x ecosystem:
- Governance: ZRX token holders enjoy the privilege of participating in the governance of 0x Protocol. This entails voting on proposals for protocol upgrades, providing the community with a means to influence the development and trajectory of the platform.
- Staking: The 0x ecosystem has implemented staking mechanisms, allowing ZRX holders to stake their tokens and potentially earn rewards. These rewards might include a portion of the fees generated by the protocol or other incentives.
- Incentives: In certain scenarios, projects and platforms utilizing the 0x Protocol may utilize ZRX as an incentive. For example, liquidity providers on decentralized exchanges built on 0x may receive ZRX tokens as rewards.
- Initial Capital: The most important role of the 0x Protocol token within the 0x crypto ecosystem was the initial capital. The token’s ICO brought in the funds needed to ensure 0x’s progress.
- Trading Pair: While not its primary function, ZRX is tradable on various cryptocurrency exchanges. Traders can buy and sell ZRX tokens as they would any other cryptocurrency.
At this point, you should already be able to answer the “What is the 0x crypto project?” question. You also already know what the 0x Protocol token is all about and what its purpose is. However, before focusing on the “where” and “how” to buy ZRX, consider the information below. After all, you can use this info for your ZRX analysis!
Full ZRX Crypto Analysis
Before we share our speculative ZRX coin price prediction and explain how you can develop your own short-term 0x price prediction at any time, let’s look at the asset’s tokenomics and historical price action.
Tokenomics
Here’s an overview of ZRX’s tokenomics:
- Token name: 0x Protocol Token
- Symbol/ticker: ZRX or $ZRX
- Network: Ethereum
- Token type: ERC-20
- Smart contract address: 0xE41d2489571d322189246DaFA5ebDe1F4699F498
- Buy/sell tax: 0%
- Total supply: 1,000,000,000 $ZRX
- Minting timestamp: August 11, 2017, at 18:39:16 (+UTC)
- ICO token price: $0.048
- Initial token allocation:
- 50% token sale
- 15% retained by 0x
- 15% developer fund
- 10% founding team
- 10% for early investors and advisors
Out of the above details, the fact that the 0x crypto asset has a capped total supply impacts its price the most. Plus, since 2017, most of the ZRX tokens have already entered circulation (approximately 85%). Hence, there are no strong inflationary forces for $ZRX to face.
ZRX Crypto Price
The above chart displays the entire $ZRX price action so far. As you can see, the token has been through two complete cycles. The first top, which also marks the asset’s all-time high (ATH), came in in January 2018 at $2.53. The second top came in in mid-April 2021, also crossing $2 but not setting a new ATH.
Regarding ZRX’s lows, the token’s all-time low (ATL) was set in August 2017, soon after launching, at $0.10. As for the lowest points in 2020 and 2023, $ZRX touched $0.14 and $0.15, respectively.
As you can see on the far right-hand side of the above chart, the 0x Protocol token had quite a breakout in recent months. You can see these in more detail on the daily candlestick chart in the next section. However, let’s first look at the asset’s weekly chart on a logarithmic scale:
ZRX Technical Analysis
Using the basics of technical analysis (TA), we can chart ZRX’s main levels of support and resistance. You can see these lines in the above chart; the thicker ones are the most significant levels. Moreover, they are the most likely ZRX coin price prediction levels. In addition, looking at the above chart again, you can also see that the latest rally broke above four important levels. Here’s a daily chart on a regular scale, which allows you to see the recent $ZRX’s run even better:
As you can see, the $ZRX crypto asset’s value increased by nearly 300% in just over 60 days. This rally was supported by large volume, which is also a good sign. All in all, the 0x crypto token looks rather bullish, and the Money Line indicator confirms that on weekly and daily timeframes:
Note: You can get your hands on the Money Line indicator for free once you opt for the Moralis Money Starter or Pro plan.
0x Price Prediction – Future Forecast for the ZRX Coin
As mentioned above, the most likely 0x price prediction levels are the asset’s previous resistance/support lines. You can see these values in the above charts. And, given that the entire crypto market has been in a rather obvious uptrend since January 2023, it is more likely to expect upward momentum to continue.
That said, our mid to long-term ZRX coin price prediction points towards the token’s ATH levels: $2 – $2.5. However, our short-term 0x price prediction allows a retest of the previous major resistance around $0.39.
Only time will tell if this cycle will be more like the one in 2017/18 – a straight line to the upside. Or, will it be more like the one in 2021, where the asset pumped and then experienced a large pullback followed by several months of side action before finally going for the $2-plus region?
Of course, it could also be a completely unique scenario. That is why price predictions generally do not work. However, by using the token’s live price in combination with its real-time, on-chain data, you can come up with your own ZRX coin price prediction at any time. And if you focus on short-term timeframes, you could be surprisingly accurate.
Should You Invest in 0x (ZRX)? Things to Consider Before Buying the ZRX Crypto
Since we are not financial advisors, we can’t tell you whether to invest in 0x. That decision is completely up to you. However, by using the above “What is the 0x crypto project and token?” sections, you should be able to decide whether or not you find the ZRX crypto asset interesting. If yes, then make sure to visit the Moralis Money 0x Protocol Token ($ZRX) page.
That page offers all the resources and tools you need to research this token and the project behind it properly. As such, it is your key to confidently answering the above question. This page also provides the live ZRX price and the asset’s real-time, on-chain metrics. Thus, use it to determine when to buy/sell the 0x crypto.
Simply follow the “$ZRX” link above or use the interactive widget below to access this Moralis Money page.
Also, don’t forget to consider your current financial situation and risk aversion before you decide to invest in 0x. After all, this cryptocurrency is not even among the top 100 coins by market cap.
However, if you do decide that you want to invest in 0x, then you also need to be able to answer the “Where to buy 0x?” and “How to buy ZRX?” questions. Fortunately, you can find answers to these questions in the next section.
Where and How to Buy the ZRX Crypto
If you look at the above-presented page, you’ll immediately notice the instant crypto swap feature. So, where to buy 0x? Just use the Moralis Money crypto-swapping functionality!
Of course, due to ZRX’s proven track record, there are many other markets where you can buy this token, including most of the leading CEXs. However, if you are looking for a user-friendly, secure, and affordable path, the above page is the best way to invest in 0x.
As for the “how to buy ZRX” part, the Moralis Money swap makes things as simple as it gets. Essentially, it all boils down to the following four simple steps:
- Connect your Web3 wallet
- Select a token to buy $ZRX
- Enter an amount
- Execute the swap.
In case you’ve never swapped cryptos before, make sure to check out our step-by-step guide on how to swap ERC-20 tokens. However, the animation below should be more than enough to clarify the “how to buy ZRX” process further.
Should You Invest in 0x (ZRX)? Analyzing the ZRX Crypto – Key Takeaways
- The 0x crypto project has been around since 2017 and is all about trading cryptocurrencies.
- The project’s crypto trading protocol is already at version four (V4).
- For a detailed exploration of the 0x Protocol, make sure to visit the project’s official websites and documentation.
- ZRX is the project’s native cryptocurrency, mainly serving as a governance token.
- The $ZRX price has increased by approximately 300% between September and November 2023.
- Instead of relying on our speculative 0x price prediction, make sure to use the Moralis Money $ZRX token page and come up with your own short-term ZRX coin price prediction at any time.
- This page will also empower you with the best crypto insights to decide whether or not to invest in 0x.
- Where to buy 0x? On the Moralis Money $ZRX page.
- How to buy ZRX? Access Moralis Money’s page for that crypto, connect your Web3 wallet, select the token you wish to buy $ZRX with, enter that token’s amount, and execute the swap.
Whether you invest in ZRX or not, you should not forget to consider other altcoin opportunities. After all, thousands of tokens are already out there, and new ones are going live daily, with an average increase of 50x – 70x. Fortunately, you can find the best altcoin opportunities at any given moment using Moralis Money’s core feature – Token Explorer. With this ultimate on-chain analysis tool in your corner, you’ll be able to find the next coin to blow up.
Essentially, Token Explorer empowers you to deploy the best crypto trading strategies and finally become a successful crypto trader! To get going with this tool as smoothly as possible, we recommend you watch the video below:
