ZRX is the official token of the 0x project that was developed in 2017. The team behind 0x designed the project with the primary goal of creating a blockchain protocol for Peer-to-Peer (P2P) trading for all ERC-20 currencies in a decentralized ecosystem independent of any intermediaries. The end-goal is to ease transaction congestion, improve scalability and reliability, and save processing time while operating a DEX (Decentralized Exchange). In this price prediction post, we will go over all the salient details of the 0x project, including ZRX, it’s price prediction, and where you can buy ZRX crypto. Let’s dive in!
What is ZRX?
ZRX is the official native token for the 0x network that was launched along with the 0x project on August 15, 2017. The 0x protocol was the brain-child of two founders; Will Warren and Amir Bandai. These founders realized that the world was becoming increasingly tokenized, so they built the 0x network to facilitate a low friction P2P exchange of ERC-20 tokens. In the 0x protocol, ZRX is used to pay for trading fees charged by Relayers, and also to provide decentralized governance for any upgrades or changes to the network. Additionally, any voting weight is determined by the number of ZRX tokens held by a voter.
There is a fixed supply of 1 billion ZRX tokens. 50% of them were already released to buyers during the launch. 15% were withheld by 0x, 15% supplied to the developer fund, 10% to the founding team, and the remaining 10% distributed to early backers and advisors. Tokens that were distributed to the founding team, backers, and staff, were subject to a four-year lock-up period. The coins sold during the official launch were available to buyers immediately. ZRX is listed as the 35th largest cryptocurrency by market cap with a market cap of over $256 million USD. According to CoinMarketCap, the ZRX current price stands at $0.393488.
ZRX Price: What Does It Depend On?
The ZRX token was introduced to the crypto market in August 2017 with a market value of 10 cents. Within two days, the ZRX price had more than doubled, increasing the market cap from about $67 million USD to over $300 million USD. Initially, the sharp increase in the ZRX coin price was linked to outside project interest. However, gradually, as project interest, hype, and ZRX news settled down, the ZRX crypto price followed suit. Additionally, a few new crypto projects such as NEO, IOTA, EOS, and others saturated the market only making things worse for 0x’s value.
As a result, the 0x crypto price had dropped down from around $0.47 to about $0.20 by the end of December 2017. However, at the start of 2018, the 0x price rose to $2.4 USD with market capitalization hitting a whopping one billion dollars. Nevertheless, this success was short-lived, as an unexpected correctional phase pushed ZRX back into bearish waters. Since that time the market has remained bearish with ZRX failing to breach the $1 threshold for quite a while. With that said, there are a few factors that affect the price of ZRX. They primarily include:
- Supply and demand
Soon after its introduction into the cryptocurrency market, the 0x price increased fivefold in a matter of just two days. However, as noted earlier, the entrance of new market competitors such as Bitcoin Cash, TRON, NEO, EOS, and IOTA decreased interest in ZRX. This decline in interest ultimately led to a cascading ZRX price fall which severely reduced the coin’s initial market capitalization.
Supply and Demand
Supply is mostly determined by the number of ZRX tokens that the 0x project team allows to exist in the market. Limited supply increases prices and vice versa. The team has decided that there will only ever be a maximum of 1 billion ZRX tokens in existence. Half of them were released to buyers at the coin’s launch. The rest were distributed to the founding team, the developer fund, early backers, advisors, and others withheld by 0x. On the flip side, the demand for 0x is influenced by its popularity, and whether its technology is actively used.
ZRX Price Prediction 2020
For most investors, ZRX was an utter disappointment for the greater part of 2019, as prices dropped from $0.303559 in January to $0.189463 by the end of the year. While this may signify a lack of interest from investors, there are also other factors that may be to blame. As stated earlier, the ZRX price today stands at $0.393488 USD. This represents a slight market price increase of $0.204025 USD. While this slight price increase may seem minimal, it does show that ZRX’s value has the potential to rise even higher. In this section, we are going to take a look at several 2020 ZRX coin price predictions made by top market players.
According to CryptoGround, the ZRX price will rise to $0.5905 USD by the end of 2020. This modest ZRX price prediction seems attainable as the current ZRX price according to the 0x price chart shows that ZRX is at $0.393488 USD.
TradingBeasts predicts that the price of ZRX will rise and achieve a value between $0.25 and $0.37.
According to BeInCrypto, the value of ZRX will fall to a low of about $0.1 USD.
According to WalletInvestor, ZRX prices might drop soon. Given that there is not a lot of news coming out about ZRX, they expect the coin to be worth only $0.11 USD by year’s end.
DigitalCoin predicts that the price of ZRX will rise to a high of $0.301.
ZRX Long-Term Price Prediction
The 0x project offers a truly promising technology along with a strong development team. While it may take a long-time for the project to start competing with the likes of Bittrex and Binance, there is no doubt that the ZRX coin price is bound to rise. However, take this prediction with a grain of salt, as altcoin prices tend to swing wildly depending on market conditions. With that said, our ZRX price prediction for 2025 is $9.125. In 5 years time, it is possible that 0x will secure more partnerships and evolve its network into a user-friendly digital asset.
Our 0x cryptocurrency prediction for 2030 is $15. The analysis underlying this prediction is that ZRX will have gone through a number of integrations and high-value partnerships with large-scale global institutions by 2030. Therefore, 0x will most likely evolve into an improved project that will cater to a massive dApp community of users. With such favorable conditions, it’s highly probable that 0x will rise in terms of both price and market cap. However, long-term price predictions are not entirely reliable, so be sure to do your own research.
Where to Buy ZRX?
You may be wondering how to buy ZRX tokens, and cryptocurrency exchange is a great place to start. However, we ask that you exercise great caution in selecting the exchange that is right for you. We recommend that you conduct your own research before committing your hard-earned money to just any crypto exchange platform.
If you are intent on buying some ZRX coins, there are several ways to go about it. You can either buy ZRX with fiat currency or by swapping another cryptocurrency for ZRX tokens, such as Bitcoin (BTC), Ethereum (ETH) or any other of 190+ currencies available on ChangeNOW.
We recommend that you use ChangeNOW, because it is fast, convenient, and allows users to retain complete anonymity during transactions.
Here’s a step-by-step tutorial on how to buy ZRX tokens on ChangeNOW:
Step 1: Head to the ChangeNOW homepage. On the homepage, there is an on-page converter that helps you evaluate how much money in either fiat currency or digital currency you need to secure one ZRX.
Step 2: Enter your ZRX wallet address where you would like the ZRX coins to be sent after purchase.
Step 3: Confirm that all information submitted is correct. That is, the number of ZRX coins, the amount of fiat currency, or the type of cryptocurrency to be exchanged. Beware that all transactions after proceeding through this step are irreversible. If everything is in order, proceed by clicking “confirm.”
Step 4: Once the transaction has been confirmed, the amount of purchased ZRX will be sent to the address you provided.
Step 5: ChangeNOW will award you with a bonus reward of NOW tokens that enable you to access ChangeNOW benefits such as fast customer support and unique exchange rates. That’s it! It’s that simple!
Conclusion: Is 0x ZRX A Good Investment?
ZRX certainly checks all the boxes of a good investment. If the above 0x price predictions are reliable, then the future of 0x is set. The price will most likely rise after its bearish trend peters out. Additionally, given the large number of hacks that have resulted in stolen funds from centralized exchanges in 2017 and 2018, the crypto community is in dire need of decentralized exchanges. Perhaps 0x’s protocol is what will usher in a new era of safe, decentralized trading. Furthermore, if 0x accomplishes its intended goals, ZRX will position itself as one of the best crypto investments in the market.