0x (ZRX) Price Surged as Changing in Staking Regulation and Interest From ETH

Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.
  • After making a high of $2.50 in January, the price of 0x (ZRX) has seen mostly downtrend.
  • From October 18, 2018, the crypto has seen continuous lower trends.
  • The coin made low of $0.148 on March 13 this year.

The lesser-known Cryptocurrency 0x (ZRX), After making a high of $2.50 in January, the price of 0x (ZRX) has seen mostly downtrend. From October 18, 2018, the crypto has seen continuous lower trends. The coin made low of $0.148 on March 13 this year.

Reasons behind sudden up move

The scenario has changed this week from May 7 as Vitalik Buterin, the man behind Ethereum said he wanted to try 0x (ZRX). After that on May 8, the coin jumped to $0.4332 from $0.2378 approximately on a closing basis. That’s an increase of 82.15% in a single day. This gain is more than 140% against the US dollar on May 8. The coin price increased further the next day and made the recent high $0.4684 on a closing basis. On this day, the coin upturn against the US dollar of 218% from May 7 and cooled down around 160% on the closing basis. As of now, the price is cooled off to $0.394.

The coin is an open-source protocol for the decentralized exchange of ETH-based tokens. Hence the holders of this coin can operate as protocol liquidity providers by staking their coins and receive payouts in ETH. Another reason for the surge in price is changing in the regulation of staking payouts to one week. Earlier, the ZRX community wanted a change in payouts from 10 days to 7 days after staking their coins.

Future Prospect for 0x

You can receive payouts in a week in ETH after opting for liquidity providers. This increases the reliability of ZRX which is a decentralized exchange protocol that constructed on the top of ETH blockchain among the coin holder. However, it is uncertain that the price will continue to increase further as, at present, the volume and the price cooled down a bit. On May 11, 7.30 am GMT, according to the chart of coingecko, the 0x coin is trading at $0.3947.

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