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Crypto currency Market: “Bitcoin Recoil $9,400, Token’s get large gains”

The large gain was recorded in last past 24 hours from many tokens like EOS, Ziliqa, 0x, Ethos, Loom, and ICON and rebounded crypto currency against both bitcoin and the US dollars.

0x is the best performer in the bullish race of crypto currency. 0x is also known as ZRX and 0x Protocol, such Kyber Network serve as the base layer of decentralized exchanges, Ethereum block chain network like ERC20 also an token based platform will serve for the 0x Protocol as the native crypto currency.

The demand for decentralized crypto currency in last 1 year has increased rapidly, mostly because of imposition of strict regulations and policies by the most popular and leading markets & government such as US, South Korea, Japan, and Germany.

Japan has imposed strict regulations because of the $500 mIn hacking attack over Coin check in of 2018 as it is highly recognized as a pro- crypto currency and block chain country.

From last three weeks, 0x is continuously giving the outstanding performance, has became most important crypto currency of today’s date and fiat currencies, it has increased two- fold in last 30 days. In April the price of 0x was 0.0009 BTC and 0x was below 0.0020 BTC, but it has been recorded that it has gained 18% on 8TH May.

The rapid increment in the value of 0x has been affected by three main factors:

  • Demand for decentralized crypto currency exchanges
  • Coin base co-founder Fred Ehrsam and first employee Olaf Carlson-Wee are advisors of the project
  • The off-chain protocol of 0x considered as a breakthrough for scaling

 

If once the world largest crypto currency platform will get approval from the US Securities and Exchange Commission (SEC) to support ERC20 tokens, the short-term traders will anticipate with the statement of Coin base. Traders were sure that if ERC20 will get support of Coin base it will be the first token to get listed on the exchange of Coin base like 0x token.

On 7th May SEC did not occur for hearing about Ethereum and WSJ responded to criticisms from some crypto currency experts to spread the rumors about the hearing. Vigna reacted “not a rumor. We don’t start rumors,” referring to a part of a WSJ report which read and people said “a working group of regulators including senior SEC and CFTC officials are scheduled to discuss the matter on May 7”.

Many crypto currency researchers and investors including Boxmining, who runs one of the most popular crypto currency podcasts and channels on YouTube, criticized the report of the WSJ.

Joseph Lubin one of the network’s creators has point out that no governmental regulations has imposed on Ether security by US government.

 

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