The 0x Protocol (ZRX) has been drawing significant attention in the world of cryptocurrencies. There have been wild speculations about its future prices, with massive growth projected by 2024. Following a series of funding rounds, 0x Labs, the team behind the decentralized exchange protocol, managed to raise $70M. High-profile names like Jared Leto and firms like OpenSea and Greylock were among the investors showing a strong faith in the project's future. The price of ZRX has seen drastic swings, peaking with a significant 238% surge over two months. Part of this success relies on the launch of an API that enables 'gasless' swap, already adopted by Robinhood and Coinbase Wallet. This innovative approach to blockchain transactions significantly decreases the prohibitive cost of 'gas' fees, making cryptocurrency trades more affordable. On the other end, the Commodities and Futures Trading Commission (CFTC) has settled charges against the companies behind ZRX in America, along with two other decentralized finance (DeFi) protocols. This regulatory step shows that while 0x Protocol rises in popularity, it also draws the closer attention of regulatory bodies. Developments in the non-fungible-token (NFT) sector highlight the protocol's potential for multi-chain NFT swaps. This feature might steer NFT operations towards various other chains like Avalanche and Fantom. ZRX has also entered a partnership with Coinbase for their NFT sector, coupling with significant price increases. On the other hand, their token has similarly found a value surge with Robinhood Wallet and Polygon's Tx relay development deal. Despite a temporary suspension due to a vulnerability issue, the protocol has continually showed signs of strength with successful fundraising rounds and through defying Bitcoin's correction.
0x Protocol News Analytics from Mon, 01 May 2017 07:00:00 GMT to Mon, 24 Jun 2024 10:41:15 GMT -
Rating -2
- Innovation 8
- Information 6
- Rumor 1
