ZRX – 0x is a blockchain exchange protocol that’s decentralized, making it possible for a P2P – Peer-to-peer exchange of cryptos on the Ethereum blockchain.
The ZRX protocol does this by streamlining trading using off-chain orders via smart contracts on the Ethereum blockchain.
Unlike other DEXs that carry out transactions on-chain, 0x uses off-chain relays, consequently reducing transaction fees and network bloat.
Also, ZRX has an inbuilt governance token that allows ZRX holders to vote on specific proposals and chart new courses for the protocol.
ZRX also has an added feature called asset swapper and allows for interoperability between Decentralized applications – dApps.
Future of ZRX Token and Significant partnerships/collaborations, On-chain Activity
ZRX is currently in partnership with the following companies:
LedgerDEX, Aragon, StarkWare, Crypto.com, Changelly, Bluezelle, Hummingbot, and Chronobank.
ZRX On-Chain Activity: Ownerships
Data from intotheblock.com reveals that holders of the ZRX token are still above the 50% mark, with cruisers making up 40.1%, the highest since April 2020.
2020/2021 Road map
Active Development on the ZRX platform
ZRX Protocol Feature: Import Settlement in Exchange Proxy
0x API Feature: Liquidity sources and Data API
Orders Distribution: Mesh v4 update
Apps: Instant off the shelf widget for swapping tokens on 0x
Governance Road Map for the ZRX Token
2021 is marked TheYearOfThe0x. Below are the different milestones.
To release decision-making for ZRX Labs curated ZEIP process.
Voting on Onchain binding for treasury proposals
Release structure for functional level
Development teams for 0x Labs community-funded teams
Development funds that include audits and grants for 0x DAO.
Competition analysis with similar projects
Though we’ll want to compare the ZRX token to other popular decentralized exchanges like Uniswap, SushiSwap, and PancakeSwap, we’ll like to state that the ZRX protocol links up liquidity providers, allowing for interoperability between different dApps and DEXs.
The major competitor of the ZRX token as a relayer is the 1inch DEX/aggregator/relayer.
However, ZRX has a clear lead, relaying 2 billion USD in the last thirty days ahead of 1inch DEX/aggregator at 186.76 million USD.
ZRX Token 2021 Price Levels and Projections
ZRX/USDT Weekly Chart Analysis
The ZRXUSDT price chart is set for a bullish swing following a hidden bullish divergence chart structure on the weekly time frame.
A price close above the 2.036 resistance would confirm the upbeat narrative.
As the price of ZRX trades above the 2.036 resistance at press time, a close above the level from a weekly chart perspective would hint at a possible correction from a regular bearish divergence before a final surge to the upside.
ZRXBTC price chart from a weekly time frame shows Bitcoin BTC holders’ inflow into the ZRX ecosystem as the price exits the MA-10 and MA-20 golden cross.
A regular bearish divergence is anticipated where the ZRXBTC trades above the 0.00005265 resistance, hinting that we may consider taking some profits off the table.
Let’s take to a monthly chart overview of the ZRXBTC and ZRXUSDT for an idea of what to expect this year.
Ok, the above monthly chart reveals a possible bullish divergence chart structure, suggesting that the upbeat momentum could last into Q4 ’21, bringing the ZRXBTC to a price target around 0.00007BTC and the ZRXUSDT to $7.0 on or before Q3 2021.
Is the ZRX token a Good Investment for the future?
Looking at on-chain data by intotheblock.com, we’ll realize that 54% of investors hold the ZRX token for over a year now and 40% for one to twelve months.
With this data, we can expect to see an increase in the number of holders in the short, medium, and long term in this current bull market and beyond.
The ZRX token has a solid fundamental behind it, considering that the Decentralized exchange – DEX market’s general growth makes for a positive driver of the ZRX demand. As a result, the ZRX token has excellent potentials to set new price milestones in the future.
ZRX token Market Cap projections and demand/supply scenario
There’s a maximum supply of one billion ZRX tokens in circulation; thus, an increase in demand for the token is anticipated.
Following a price close above the 08 February ’21 high (2.036), which also aligns with regular bearish divergence, we expect a slowing in demand for the ZRX token in the early months of Q2 ’21.
The ZRX tokens’ market cap is expected to explode by 3X after an impending price correction to somewhere around the 1.3 price area.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com