One of the significant problems that have beset the cryptocurrency industry is the persistent security breaches of centralized exchanges. Big 4 auditing firm KPMG cited this as one of the reasons why cryptocurrencies have not reached mass adoption.
Innovators turned this threat into an opportunity and have been introducing many innovative solutions that serve as alternatives to what many believe as the weakest link in the space.
One such initiative is 0x, an open-source blockchain-based protocol that provides smart contract infrastructure and liquidity to enable the peer-to-peer exchanges of Ethereum-based tokens.
It’s protocol token, ZRX, can be staked to earn liquidity rewards in ETH and can be used as a governance token to vote on Improvement Proposals that can stir 0x’s development path.
Holding ZRX may prove to be an excellent opportunity for passive income. As the utility of the token increases, it may increase in value over-time, making it a digital asset worth taking a look.
In this ZRX coin price prediction article, we will take a more in-depth look into this project to make an accurate ZRX price prediction for the short-term (2020), mid-term (2022), and long-term (2025).
We will do this by looking back on this past price movement as well as its current developments to check what value it has delivered. These will be our basis to determine what is the most likely price trajectory of this digital asset and determine for ourselves if it is worth investing in.
0x (ZRX) Historical Price Analysis
The 0x ICO took place on 14 Aug 2017 to the 15 Aug 2017 they managed to raise USD 24,000,000 using a hard cap on the amount raised.
They also managed to somewhat decentralize the tokens by limiting the total number of tokens any one party could purchase. Over 13,000 Ethereum addresses were involved.
Each token was sold for $0.048 at the time of the ICO, they are currently trading for 7x their initial ETH value but are only worth 3x their USD value. It reached its historical high during the crypto bull run of late 2017 and January 2018, where it touched the $2.50 USD price range. However, this did not last long, and soon, it started its gradual decline.
There had been occasional price surges throughout 2018 in May, July, and October in 2018, but they are marked by lower highs. Since then it has traded horizontally throughout 2019 and Q1 2020
Like many of the Altcoins, the price of 0x (ZRX) has been dropping since the start of the 2018 bear market. There are multiple reasons the token is dropping in price.
It is only Ethereum based; most market makers do not wish to hold the token and are selling them on completion of the contracts. Decentralized exchanges operate for-profit and will liquidate all their holdings of ZRX as needed.
Altcoins across the board isn’t doing well; this has a knock-on effect as any coin trapped in a downward spiral looks less and less like a good investment, forcing holders to sell before they incur losses.
As this happens, more and more investors with losses will throw in the towel, pushing down the value of the coins.
Current Price, Market Cap, & Supply Details
ZRX Coin Future Price Forecast Prediction
0x is a token and protocol that is ahead of the times. They provided services that require mass adoption to be taken advantage of. The current market for ERC-20 and ERC-721 is limited, both due to the cost of Etherium and the total market capitalization of the cryptocurrency market.
The crypto space does not have enough users using the available Dapps, as most retail traders focus on short term capital gains instead of the technology. It’s not impossible to see that this technology could be settling stock markets in the future. Whether 0x will be doing it is another question entirely.
The cryptocurrency market has seen more than 2 years of Bitcoin not making a new high. This has taxed the nerves of many investors and traders, compounding the exodus to fiat currencies around the world. Additionally, Bitcoin has not managed to prove its store of value at the moment, dropping in sync with the S&P 500 and DJIA Dow Jones Industrial Average.
The bullish case, however, isn’t all doom and gloom. Fortunately, Bitcoin could have bottomed or will bottom very soon, forcing enough capitulation to result in coins changing hands from the bears to the bulls.
Once the bulls regain control, it could be a wilder ride than the bear market over the next few years.
At the current price of 2600 sats, if Bitcoin rallies to 100k, the token would be worth $2.60. If the ZRX manages to break it’s all-time high and push towards 26000 stats, the coin would be worth $26.00.
The key to this prediction is a long term time horizon, using a broad portfolio, investing small amounts into each project as 0x, and ZRX could ultimately fail.
In the short term, if the price of Bitcoin reaches 10k, we could see a 2x price jump to $0.34. This ZRX price prediction also needs to correlate with the Ethereum market, which also needs each coin to be worth $250 -$300.
Short Term Forecast
Long Term Forecast
ZRX Coin Price Prediction 2020
We expect ZRX to perform much better in 2020 than the previous year, which ZRX traded sideways throughout the year.
The primary catalyst for this will be the BTC reward halving event, which has historically been a precursor for a major bull run of the crypto market.
Of course, we cannot dismiss the fact that the market can go in the opposite direction. It is noteworthy to indicate that many traders have taken up long positions in the futures market of BTC, which suggests that the price of BTC will increase in the near term.
Like many cryptocurrencies, ZRX price prediction relies heavily on the price movement of BTC; with increasing bullish sentiments, we can predict with a certain amount of confidence that ZRX tokens will likely follow a more bullish path than previous years.
If the price of BTC will increase towards its previous all-time highs, then it would not be surprising to see big potential projects like 0x increasing 3X its current value to $0.78 at the end of the year.
ZRX Coin Price Prediction 2022
Like many of the previous bitcoin halving events, we are likely to see a prolonged bullish price action afterward, with its momentum carrying over beyond the year 2020. We might see the fullest effects of this event on 2021-2022, where ZRX might reach a new all-time high at $2.99 USD.
Ethereum 2.0 would have been released by this time 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.
This may have a substantial impact on the price of Ethereum of these tokens, which will help maintain its predicted price range of $2.47-$2.99 USD 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 now, ZRX would have established itself as one of the leading technology that will enable decentralized finance (Defi).
ZRX Coin Price Prediction 2025
By this year, another bitcoin halving event would have occurred. This would trigger another cycle of bullish price actions that may cause many digital assets to achieve new all-time highs. Similar to most cryptocurrencies, the price movement of BTC will significantly influence the price of ZRX.
On top of this, we expect that by this time, the cryptocurrency industry would have reached regulatory clarity reaching the same level of recognition given to traditional financial markets. It means that the mass adoption of cryptocurrencies may well be underway during this time.
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 ($100K USD) 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.
Is ZRX Coin a Good Investment?
0x plans to be faster than its competitors. They allow their users to swap between tokens or assets for the seamless use of Ethereum based Dapps, without locking tokens on the blockchain and generating gas fees, unlike most decentralized exchanges.
Its goal is to allow users to more effectively use the Ethereum ecosystem without having to go through exchanges. Exchanges currently force token holders to trade into either Bitcoin BTC, Ethereum ETH, or USD stablecoins.
Then users still further have to make another trade from BTC, ETH, or USD into the new token they want to buy.
Using cryptocurrency exchanges in this way generates multiple transaction fees, both directions getting tradable assets or tokens on the exchange and off the exchange; the act of having to trade numerous times will also generate additional trading fees.
0x plans to do this in one transaction with an atomic swap by leveraging the functions built in the Ethereum blockchain. 0x will use smart contracts on the Ethereum blockchain to facilitate the peer-to-peer trustless exchange of one token or asset for another between users.
Using smart contracts allows them to swap the tokens or assets in one transaction, avoiding additional third parties fees. This lowers transaction costs and reduces network traffic, as well as removes the need to pay exorbitant fees to cryptocurrency exchanges.
All this effectively means using 0x will cost less than its competitors. To use their services, you will need to have ZRX coins, which are their ERC-20 token.
0x ZRX news has been sparse of late, with the last noteworthy announcement being made that they were Introducing ZRX Portal, which is their new home for staking and voting using the ZRX token. Their blog post details the advancements.
Staking does offer rewards to the users who lock up their coins. Unfortunately, these rewards are not keeping up with the deflation of their currency, which will result in a net loss.
Staking should only be done by long term investors who have a multi-year waiting period. It could result in considerable profits or a monumental loss.
How to Buy 0x (ZRX)?
There are a variety of ways one can buy 0x (ZRX). It is available in more than 190+ markets, mostly in centralized exchanges. Most of the biggest and well established centralized exchanges (CEX) have listed ZRX, which is a clear sign of confidence for the digital asset.
Coinbase style=”font-weight: 400;”>, Binance, Bitfinex, Bittrex, and Poloniex are some of the few well-known crypto exchanges that have listed this digital asset. Many of these exchange allows users to purchase cryptocurrencies using bank transfers and bank cards, making it easier for no-coiners to purchase ZRX.
However, most of these centralized exchange does not allow direct purchases of ZRX using fiat. Buyers will have to buy BTC or ETH and have them exchange with ZRX. An alternative direct way of doing this is by using Instant Crypto Exchange like ChangeNow. It allows users to directly purchase ZRX using credit or debit cards.
Alternative Way to Buy ZRX Coins
More Information About 0x (ZRX)
What is 0x (ZRX)?
0x or Zero Exchange is an open-source and non-rent seeking protocol, which enables and allows the peer-to-peer exchange of Ethereum derived assets or tokens directly on the Ethereum blockchain.
0x can be described as an open public infrastructure. It is not a Dapp but a trustless exchange that DEXs can be based off.
This underlying protocol is free to use for anyone interested in creating a decentralized exchange that can be set up in under 1 minute.
We think of 0x and the ZRX token as a trustless, decentralized OTC (over the counter) trading desk. An intermediary, holding both parties’ tokens and exchanging them if both parties honor their respective agreements.
Somewhat like an exchange without focusing on fixed pairs, let alone having fixed base currency or fixed quote currency.
This allows for trustless peer-to-peer transactions to take place in a controlled and secure environment. 0x was designed as a protocol that DEXs decentralized exchanges could use to improve some of the problems they face.
The Team behind 0x (ZRX)
0x was co-founded by Will Warren and Amir Bandeali in October 2016. The 39 member team is comprised of engineers, computer scientists, and physicists. They have a further 5 advisors from Paradigm, Polychain Capital, Pantera Capital, Augur, Scalar Capital, and Craft Ventures.
0x has one the co-founder of Coinbase as one of their advisers. The exchange also gave away free ZRX in exchange for watching videos about the token.
Their partnership with Coinbase opened them up to a plethora of legal obligations that may infringe on your sovereign rights to be tracked and monitored.
Coinbase has been on the warpath, lately acquiring and partnering with companies that can improve its chain analysis and KYC processes through facial recognition.
Brian Brooks, the chief legal officer at Coinbase, has been appointed as the next Chief Operating Officer and First Deputy Comptroller of the Office of the Comptroller of the Currency (OCC). This reminds us of how Goldman Sachs took over the American Treasury. For a quick understanding, watch Inside Job (2010).
In our opinion, this does signal an aggressive push for the removal of cash soon. This also makes us extremely bullish on cryptocurrencies as the alternative. Cryptocurrencies could seriously be the future for all global money.
0x ZRX Security
DEX’s are considered illiquid, slow, and expensive. They are decentralized by design. This lack of centralization causes them to be inoperable with each other, but they do offer greater security from an anonymity point of view.
DEX’s also operate order books directly on the mainchain. Each order or order cancellation will warrant network fees or gas paid, which also adds network bloat. Ultimately we won’t use DEX’s because of security concerns due to the number of attention hackers give them due to their anonymity features.
All funds lost are not recoverable or refunded through an insurance fund, and due to the decentralized nature, no third party can be sued to recover funds.
0x secures its transactions by using their protocol to act as the Intermediary. Instead of locking your token or assets for sale on the Ethereum blockchain, the trade takes place on an off-chain relay with Ethereum powered smart contracts that only executes once a deal is settled.
For a trade to take place, both parties need to be able to connect directly. Anyone can generate and broadcast an order by sending a link via any method that allows for character transmission; WhatsApp, Twitter, email, regular mail, on a piece of paper, even morse code.
As long as you can connect directly with the counterparty to the trade, you can execute it immediately. 0x API drastically improves DEX infrastructure by providing a universal order book that is shared among all of 0xs’ decentralized exchanges. Broadcasts are sent to both public and private order books.
0x brings together order books from 0x Mesh, Kyber, Uniswap, and Oasis. Connecting multiple DEX’s improves liquidating, allowing for accurate pricing for both parties.
Market makers and relays are rewarded with ZRX for their transactions; these rewards are paid by the market takers.
We feel under the right conditions, ZRX could do very well. It is not the riskiest coin to invest in due to their development, partners, and available funding. The returns will be modest.
By crypto standards, we don’t see a 100x price increase anytime soon. Crypto markets are extremely volatile depending on how fast they reach 10x, 100x is not that far off.
Unfortunately, the bear case is a coin with no value, ZRX is trading around the all-time lows. While it is slightly recovering, only time will tell if this is enough as they have not broken a local high in a long time.
While this project may go to zero, the technology is impressive. If they can expand to do atomic swaps across blockchains somehow, they could do 100x in rapid time.
While they manage to market the token reasonably, they need to focus on onboarding more exchange. They also need to focus on integrating their 0x instant into more websites.
Jesus Cedeño is a certified doctor turned cryptocurrency expert, writer, and investor who lives in New York City. Jesús specializes in cryptocurrency product reviews, tutorials & technical analysis. Follow him on LinkedIn to stay up to date on his latest work on blockchain, decentralization and crypto investments.