In the cryptocurrency space there is a lot of room for run of the mill digital assets like Bitcoin, but there is also a growing space for coins and protocols intended to advance and bolster the technological space. ZRX cryptocurrency is one such coin.
ZRX comes from the blockchain protocol 0x, which allows for decentralized exchange of tokens and assets issued on the Ethereum blockchain. The role of 0x and the ZTX token is for developers to be able to use it to create their own applications for cryptocurrency exchange. It offers a wide array of functions, such as the ability to conduct over-the-counter trading of tokens issued on the Ethereum blockchain.
The ZRX coin then also adds a layer of decentralized management of the protocol and can be used to improve the underlying smart contracts. All of this is very removed from what Bitcoin does as a coin, which is merely transactional and as a store of value, but it does make ZRX an important cog in the cryptocurrency ecosystem’s machine.
Having this ability to further the power of Ethereum-based projects and bolster the programmable blockchain side of things makes ZRX a potentially good investment as the technology continues to grow/ Many have put forward ZRX price predictions but, will the price of ZRX go up? Let’s find out!
What is ZRX Cryptocurrency?
To understand what the ZRX crypto is, it is first important to have a good understanding on what the 0x protocol is. In the world of cryptocurrencies and blockchains there is still a lot that needs to be worked out and advanced to make this space as disruptive and potentially world changing as it can be.
Programmable blockchains — like Ethereum — took Bitcoin and the space to a second generation, but they also introduced new coins and projects that operated independently from each other. However, having Ethereum as the base of many of these projects means there is the beginnings of interoperability, but it still needs a hand.
0x is a protocol that facilitates low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is there to serve as an open standard and common building block, driving interoperability among decentralized applications (dApps) that incorporate exchange functionality.
Decentralised exchanges are also a big advancement in the cryptocurrency space as more and more people have realised the power and safety of being fully in charge of their tokens and not trusting centralised platforms that often attract hacks and scams.
Price History Of ZRX
ZRX is another token that saw the hype of the late 2017, early 2018 ICO rush and excitement in altcoins. This project came out as an ICO in August 2017 and raised $24 million through the sale of 500 million of the one billion tokens created.
Following the ICO the price of the token rose to $0.42 at its peak, and then as expected, the coin’s price dipped back down before it was propelled forward by the hype of altcoins in early 2018. There were three distinct price jumps for ZRX with its all time high coming at $2.11 at the end of January.
The price rose and fell a few times following this as the speculators were clearly in control. But, over the year the 0x protocol team had time to start enacting their technology and use the coin to reach its potential.
In September 2018, ZRX released v2.0 of the protocol which brought several new features including; the 0x Portal, Non-Fungible Token support (ERC-721), increased order matching efficiency, and the option for permissioned liquidity pools where token addresses must meet specific requirements that enable the enforcement and adherence to KYC/AML regulations.
The excitement surrounding DeFi and crypto in general in late 2020 helped ZRX break out higher, and has remained bullish well into 2021 where it is now trading at $1.35 per ZRX token.
ZRX is another cryptocurrency that has a big role to fill in the eventual advancement of the blockchain space. As Ethereum and other smart contract blockchain grow, and the desire for more powerful decentralised exchanges comes to the fore, the potential of ZRX will be realized.
This is why it is important to look to the future for the price forecast of ZRX and look to what the experts believe will happen with the coin in the coming months, and even years. 2020 may be almost over, but there is still a lot that can happen in the remaining months. Bitcoin saw huge growth from October in 2017.
“Our site uses a custom algorithm based on Deep Learning that helps our users to decide if ZRX could be a bad portfolio addition for the future. These predictions take several variables into account such as volume changes, price changes, market cycles, similar coins,” explained the website.
“ZRX might climb up the rank in the capitalization ladder. In a matter of 5 years, it will be high on partnerships and integrations, which will make it a user-friendly digital asset.”
“In a time frame of 5 years, 0x price might reach $9.125, which might happen because of its high adoption rate.”
“By 2030, 0x price might touch $15 as its price potential is much more than expected.”
Crypto Ground believes that ZRX is performing well and might reach a long term prediction and forecast of $2.4950.
Crypto – Rating
“The CVIX displays how fearful are the market participants of the price of 0x dropping significantly over the last 30 days, which is synonymous with expected negative volatility. If CVIX is high (51-100 value), it flashes red and signals the increased probability of sharp price fluctuations. The green CVIX (1-20 value), on the other hand, means that the participants expect the market to remain calm and predictable over the said period of time.”
“Yellow CVIX (21-50) is a moderate value meaning that traders are to expect some swings to the upside or the downside but without any disruptive changes of the overall trend structure.”
All the machine learning, AI, and expert predictions often don’t compare to pure technical analysis when it comes to realistic outcomes. By removing emotion and exuberance from predictions, and focusing only on the asset’s chart, more tangible results can be achieved when making forecasts.
ZRX Price Prediction 2021
ZRX is back to trading at over $1 after a long bear market. Interest in DeFi and Ethereum-related coins have made ZRX a top performer once again. However, the asset has failed to break a new all-time high record during this bull market, and could see a pullback before making a retest. That could make the high for 2021 around $2.50 per token.
ZRX Price Prediction 2022 – 2023
ZRX is performing well due to the overall bull market, which should push the cryptocurrency to new highs eventually. If this happens, and a breakout of the rounded bottom formation occurs, a rise based on the measure rule would forecast a peak at around $22 per coin.
ZRX Price Forecast 2024 – 2025
Price predictions this far ahead in time are very approximate and are not entirely certain
After the high is put in around then, it is more than likely time for another bear market based on past crypto market bull and bear cycles. The chart above shows a high of roughly $22 per ZRX, and support for the bear market will be found along the way back down.
What Is The Future Of ZRX ?
In order to start investing in a more complicated cryptocurrency like ZRX, it might be better to start with more popular coins like Bitcoin, Litecoin, and Ethereum. To get started quickly, with a well established platform, sign up for PrimeXBT here. PrimeXBT offers advanced, and easy to use tools to invest and trade cryptocurrency with bank grade security and an award winning, user friendly, platform. The future of ZRK is looking quite positive as the whole point of the 0x protocol and its space with the ZRX cryptocurrency is to further advance Ethereum and decentralised exchanges. There is a lot of room to grow in what can be considered cryptocurrency’s second generation (Ethereum over Bitcoin) It may be a long term growth pattern for ZRX as it finds its role more in the years to come, but it is worth getting involved earlier rather than later.
How Much Is ZRX Worth?
As it stands, ZRX is worth just under $1.50. This price is probably fair for the coin as it stands, but leaves it open to growth substantially from this point.
Does ZRX Have A Future?
ZRX has a pretty good future if a number of factors are met and the growth of Ethereum and its need to help this space keeps advancing. The future for ZRX is probably quite a long one, and this means it is very dependent on how things change.
Will ZRX Price Go Up?
There are a number of factors to consider when wondering if the price of any cryptocurrency will go up. ZRX is dependant on a number of things in its niche space, but the general growth of cryptocurrency, and bullish drives for Bitcoin from its halving and Ethereum from its upgrade, will certainly help
Is ZRX A Good Investment In 2021?
ZRX in 2021 is probably not the best investment a user can make in the cryptocurrency space. The coin has not been performing very well in 2021 and other coins, like Bitcoin, Litecoin, Ethereum, Ripple and EOS are the ones to look at.
Disclaimer: The data provided in this article is collected and collaborated from a number of different sources and should not be taken as investing advice. It is much safer and smarter for any user looking to invest in cryptocurrency to do their own research and to understand the risk associated with it