After the announcement by Coinbase Pro that they will be trading 0x (ZRX), the coin has surged in such a bear market just because of its listing on the exchange. The Coinbase Blog on medium and twitter announced about the listing of 0x on the network. The users can transfer ZRX instantly to their Coinbase Pro account in advance of trading. At the moment, ZRX can be traded with ZRX/USD, ZRX/EUR and ZRX/BTC. Currently, Coinbase are not offering 0x trading on their Coinbase.com website, iOS and Android Apps. Coinbase Pro tweeted:
“ZRX is launching on Coinbase Pro! The ZRX/USD, ZRX/BTC, and ZRX/EUR order books have entered transfer-only mode. Traders can deposit ZRX, but cannot yet place or fill orders. Order books will remain in transfer-only mode for at least 12 hours.”
The listing of 0x on the exchange is a very surprising news for most of the investors. This is a very good news for the 0x users, as their coin gets listed on the Coinbase network, one of the biggest and recognized exchanges in the world. This will highly boost the volume of 0x network. At the time of writing, the volume of 0x was around $70 million dollars, Since the announcement the volume has increased up to almost $60 million, which is a huge rise.
Coinbase Pro GM David Farmer said:
“Once enough liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC order books. ZRX trading will be reachable for users in most jurisdictions, but will not initially be available for residents of the state of New York.”
The Coinbase at first stipulated that they might list 0x (ZRX) to their exchange in July when the network announced that they are looking to list more coins on the network. At that time Coinbase said that some users might not be able to trade specific coins in certain regions due to their authority.
0x (ZRX) Skyrockets
Since the announcement of ZRX being listed on Coinbase Pro, the coin has seen a major surge in its price in last 48 hours’ time. Before the listing the 0x was trading around $0.65 USD to $0.71 USD, but after the news of listing on 11th Oct, 18, ZRX touched the highs of $0.87 and its volume rose from $12 million to $65 million in such a quick time. Its market cap has almost raised up to $10 million.
At the time of writing, 0x (ZRX) was trading around a price of $0.77 USD with a market cap of $418 million USD. Its current volume has surged up to $70 million. Currently, the coin was rising up with a rate of about 15% in last 24 hours.
All in all, this announcement for 0x has turned out to be one in a blue moon. The has been pretty stable in market from last couple of months and it surged at such a time when the market is burning red. Almost all top coins are down and feeling the heat of bearish market. 0x is among few coins who have had a successful time is this last two days bearish market. In future we will see what’s up next for the coin, as Coinbase hints to soon launch it on it Coinbase website, iOS and Android App.