0x, identified in the market with the label ZRX, is one of the few cryptomonkets that had not had its upward peak. However, on Wednesday 0x managed to wake up from a prolonged lethargy, having a strong gain in the last 24 hours.
0x is one of the few cryptomonies that had not climbed to the bullish wave of the crypto market in the last months. This seems to be changing with the rise of the Token in the last days.
One of the key factors that is driving 0x is the euphoria that is being experienced in the DeFi sector in general. As long as this upward trend in Decentralized Finance continues, the cryptomoney may continue to escalate.
0x: 5 key points to understand decentralized exchange
The vision of 0x in the crypto market
0x (ZRX) is an open source protocol that provides an intelligent contract infrastructure and liquidity, to enable peer-to-peer token exchange in the Ethereum block chain. ZRX is the token that allows 0x users to vote on improvement proposals that make the system evolve over time.
The goal of 0x is to create robust systems for decentralized exchanges.
The main advantage of the decentralized exchanges promoted by Bitcoin Era is that it radically reduces the vulnerability of the user’s crypto-currencies. As long as a decentralized platform is used, the theft of user assets is practically impossible.
Looking back, 0x has been growing at a slightly slower rate than other crypto-currencies.
0x finally wakes up with a rise in the last 24 hours
At the time of writing, 0x has a daily volume of $159,726,707, a price of $0.63 per unit, and a market capitalization of $457,872,678. Also, according to CoinMarketCap, 0x has a historical return on investment of 469.41% at present.
0x has a strong 24-hour upward trend and is ranked 35th in the world in terms of crypto-currency.
In this way, it climbed in the positions of the crypt coin ranking to 35th place, after having remained at 42nd place in the crypto ecosystem.
With these data we can assure that 0x is slowly waking up from its lethargy, since the adoption of the 0x protocol has been increasing on the part of the users, and with it the upward peak in the last 24 hours.
Will this finally be the sign that 0x is managing to consolidate itself in the Crypto market? Let us know your thoughts in the comment box.