22 Sep 2020 #0x
In the cryptocurrency space there is a lot of room for run of the mill digital assets like Bitcoin, but there is also a growing space for coins and protocols intended to advance and bolster the technological space. ZRX cryptocurrency is one such coin.
ZRX comes from the blockchain protocol 0x, which allows for decentralized exchange of tokens and assets issued on the Ethereum blockchain. The role of 0x and the ZTX token is for developers to be able to use it to create their own applications for cryptocurrency exchange. It offers a wide array of functions, such as the ability to conduct over-the-counter trading of tokens issued on the Ethereum blockchain.
The ZRX coin then also adds a layer of decentralized management of the protocol and can be used to improve the underlying smart contracts. All of this is very removed from what Bitcoin does as a coin, which is merely transactional and as a store of value, but it does make ZRX an important cog in the cryptocurrency ecosystem’s machine.
Having this ability to further the power of Ethereum-based projects and bolster the programmable blockchain side of things makes ZRX a potentially good investment as the technology continues to grow/ Many have put forward ZRX price predictions but, will the price of ZRX go up? Let’s find out!
To understand what the ZRX crypto is, it is first important to have a good understanding on what the 0x protocol is. In the world of cryptocurrencies and blockchains there is still a lot that needs to be worked out and advanced to make this space as disruptive and potentially world changing as it can be.
Programmable blockchains — like Ethereum — took Bitcoin and the space to a second generation, but they also introduced new coins and projects that operated independently from each other. However, having Ethereum as the base of many of these projects means there is the beginnings of interoperability, but it still needs a hand.
0x is a protocol that facilitates low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is there to serve as an open standard and common building block, driving interoperability among decentralized applications (dApps) that incorporate exchange functionality.
Decentralised exchanges are also a big advancement in the cryptocurrency space as more and more people have realised the power and safety of being fully in charge of their tokens and not trusting centralised platforms that often attract hacks and scams.
ZRX is another token that saw the hype of the late 2017, early 2018 ICO rush and excitement in altcoins. This project came out as an ICO in August 2017 and raised $24 million through the sale of 500 million of the one billion tokens created.
Following the ICO the price of the token rose to $0.42 at its peak, and then as expected, the coin’s price dipped back down before it was propelled forward by the hype of altcoins in early 2018. There were three distinct price jumps for ZRX with its all time high coming at $2.11 at the end of January.
The price rose and fell a few times following this as the speculators were clearly in control. But, over the year the 0x protocol team had time to start enacting their technology and use the coin to reach its potential.
In September 2018, ZRX released v2.0 of the protocol which brought several new features including; the 0x Portal, Non-Fungible Token support (ERC-721), increased order matching efficiency, and the option for permissioned liquidity pools where token addresses must meet specific requirements that enable the enforcement and adherence to KYC/AML regulations.
From there, ZRX started slowly rising again, but nothing too significant in price spikes came until May of this year when the price climbed back to its ICO top of $0.42. However, the majority of 2020 has been generally positive with a price spike sending it close to $0.80 at the height of the DeFi craze. This was further pushed by a huge increase in volume which may well have to do with the DeFi excitement as well.
ZRX is another cryptocurrency that has a big role to fill in the eventual advancement of the blockchain space. As Ethereum and other smart contract blockchain grow, and the desire for more powerful decentralised exchanges comes to the fore, the potential of ZRX will be realized.
This is why it is important to look to the future for the price forecast of ZRX and look to what the experts believe will happen with the coin in the coming months, and even years. 2020 may be almost over, but there is still a lot that can happen in the remaining months. Bitcoin saw huge growth from October in 2017.
ZRX seen from the temporality of 1W we can see how the current candle has found support in the parabola at 50 leaving a long wick lower, signal of strong demand in the support area, currently the candle is testing the horizontal indicated in the graph in red, this is located at 4251, if we manage to close above the horizontal we should have a change of trend that should reach our first objective located at 7081, giving us a good profit margin.
ZRX seen from the temporality of 1D we can observe more closely the test that is being done in the aforementioned resistance, I have placed the indicator DPO (Price Oscillator without trend) because it gives us important information when a change of trend could occur, the closer the oscillator of line 0 is, the more likely it is that a strong movement of change will occur.
ZRX seen from the 3D temporality we can see how the current structure of candles are forming the known bullish setup “descending wedge”, the RSI indicator is showing oversold levels, we also have a bullish divergence in relation to our nearest LL.
ZRX has the potential to be successful in avoidance of the compliance issues in 2020. This will help dapps would work in accordance with the regulation within its ecosystem. The platform even aims to build their data infrastructure, to measure the impact of their work on different domains of the ecosystem.
Moreover, the research team at 0x is pursuing innovation in areas of network economics, market design, application of cutting edge cryptography for scaling and network economics.
Once these all areas are covered, ZRX will be successful in strengthening itself as one of the best coins, with the highest ZRX price potential.
By 2020, if everything goes as expected, ZRX is expected to reach $2.732, which could be a more than decent ZRX price target.
A big event to keep an eye on in the coming years is Bitcoin and how it reacts after its halving event. This could lead to a prolonged Bullish run for the entire crypto space. We might see the fullest effects of this event on 2021-2022, where ZRX might reach a new all-time high at $2.99 .
Ethereum 2.0 also comes into play for 0x and ZRX because there is a lot of co-operation between ZRX and Ethereum. So, the upgrade should be well on its way by 2021-2022 and may also serve as another catalyst adding more positive momentum to ZRX’s prices. The protocol upgrade is expected to address the major weakness of the Ethereum blockchain: scalability and high transaction fee.
With this protocol upgrade, we could see a renewed interest in Ethereum as well as the many ERC20 tokens that have been issued on Ethereum’s network, including ZRX.
Ethereum will of course benefit, but more than that, the coins on the Ethereum blockchain will be bolstered will help maintain its predicted price range of $2.47-$2.99 despite the anticipated profit-taking of some investors.
We can expect some occasional dips in prices in 2022, but we believe it won’t be as severe as the 2018 bull market. By then, ZRX would have established itself as one of the leading technologies that will enable decentralized finance.
Price predictions this far ahead in time are very approximate and are not entirely certain. By 2025, there would have been another Bitcoin halving event to navigate and the next bullish cycle will be hitting the space once again, this will help all projects see an increase in value.
The biggest growth in the next five years has to certainly be the growth of regulation and the way in which the real world embraces and understands crypto. Crypto should be on par with regulators as traditional finance, and because ZRX has a role to play in normalising through its decentralised exchange efforts, it will also benefit.
Mass adoption means we will experience a significant increase in demand for digital assets, with many investors rushing in to get better positions.
Many pundits believe that BTC’s value would have appreciated 10x its current value by this time ($100,000) with many other digital assets following the same price path. In line with this prediction, we believe ZRX would reach the price range of $19.50-$26.00.
The future of ZRK is looking quite positive as the whole point of the 0x protocol and its space with the ZRX cryptocurrency is to further advance Ethereum and decentralised exchanges. There is a lot of room to grow in what can be considered cryptocurrency’s second generation (Ethereum over Bitcoin) It may be a long term growth pattern for ZRX as it finds its role more in the years to come, but it is worth getting involved earlier rather than later.
In order to start investing in a more complicated cryptocurrency like ZRX, it might be better to start with more popular coins like Bitcoin, Litecoin, and Ethereum. To get started quickly, with a well established platform, sign up for PrimeXBT here. PrimeXBT offers advanced, and easy to use tools to invest and trade cryptocurrency with bank grade security and an award winning, user friendly, platform.
As it stands, ZRX is worth just under $0.50. THis price is probably fair for the coin as it stands, but leaves it open to growth substantially from this point.
ZRX has a pretty good future if a number of factors are met and the growth of Ethereum and its need to help this space keeps advancing. The future for ZRX is probably quite a long one, and this means it is very dependent on how things change.
There are a number of factors to consider when wondering if the price of any cryptocurrency will go up. ZRX is dependant on a number of things in its niche space, but the general growth of cryptocurrency, and bullish drives for Bitcoin from its halving and Ethereum from its upgrade, will certainly help
ZRX in 2020 is probably not the best investment a user can make in the cryptocurrency space. The coin has not been performing very well in 2020 and other coins, like Bitcoin, Litecoin, Ethereum, Ripple and EOS are the ones to look at.
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