8 min readIn 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 $0.90 per ZRX token. However, it is down from the 2021 high of $2.50.
Expert Forecasts
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.
Wallet Investor
Wallet Investor tends to lean heavily bullish on many altcoins, with ZRX included. The price prediction for each coin reaches as high as $3.99 by 2025. This is around an 8x rise from current prices.
Capital.com
Capital.com’s roundup of predictions from top analysts from around the world includes a target of $5.67 in 2028 as the longest term and highest value forecast.
Technical Analysis
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 2023
The neckline resistance in 2018 through 2020 could soon act as support and the bottom of the next bear market.
ZRX Price Forecast 2024 – 2025
Price predictions this far ahead in time are very approximate and are not entirely certain
In longer-term forecasts, after ZRX has bottomed again and had another bear market, it should be time for the asset to turn bullish again. It also could be when the technology truly becomes adopted, and grows even faster.
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 ZRX 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 $0.50. 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 2020?
ZRX in 2020 is probably not the best investment a user can make in the cryptocurrency space. The coin has not been performing very well in 2020 and other coins, like Bitcoin, Litecoin, Ethereum, Ripple and EOS are the ones to look at.
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