MEXC0x Labs Raises $70 Million; Sends ZRX Token To The Moon
0x (ZRX), the native token of the decentralized exchange builder 0x Labs has been pumping hard for the last 7 days. A series of positive headlines have helped the coin to become the top grosser among the top 100 cryptocurrencies.
In the latest development, 0x has bagged a $70 million Series B funding. However, the company’s valuation has not been disclosed.
ZRX token prices up by 15%
According to Forbes, The Funding round was led by Greylock Partners which included investors like Jared Leto, OpenSea, and more. In reaction to this big news, the 0x token has surged by over 15% in the last 24 hours. The coin is trading at an average price of $0.8642, at the press time. Meanwhile, its 24 hour trading volume of $197,124,029 has zoomed by over 156%.
The lab operates second largest decentralized exchange aggregator Matcha which handled around $2.13 billion of the total DEX trading. The firm will be focusing to use the fund to build this product to support the NFT ecosystem.
In 2017, the 0x labs raised around $24 million from the ZRX tokens sale. While the other $15 million were raised in a Series A round which was led by the Pantera Capital.
As per the report, Coinbase also participated in the procedure. Last week, America’s largest cryptocurrency exchange launched its non fungible tokens (NFT) marketplace. The whole marketplace will be powered by x technology.
ZRX token surge by 20% in last 7 days
The ZRX token gained most of the benefit from Coinbase’s announcement. The 0x token jumped by almost 50% to touch the $1.10 price level. It is the highest price level the coin has achieved since December. The token price has jumped by over 20% in the last 7 days. ZRX also entered the list of top 100 crypto tokens since its market capitalization rose from $300 million to touch its highest at $930 million.
0x labs grabbed the eyes of Coinbase when 0x Labs launched the NFT swap feature enabling users to interchange digital assets. The feature supports famous blockchains like Ethereum, Fantom, Avalanche, and more.
- Litecoin Price Jumps, What’s Behind the Sudden Rally? (28 oct)
- Metaplanet Stock Surges 10% on Share Repurchase, Capital Allocation Policy
- AI Meets Smart Routing: Screx Sets a new efficiency Benchmark in DeFi
- Bitwise Solana Staking ETF (BSOL), Canary Litecoin and HBAR ETFs to Launch Today
- Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Poised to Break $125k? If President Trump Announces Deal with China on October 30th
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
