ZRX Token Skyrockets Over 40%, Here’s Why

The 0x (ZRX) token was among the best performing cryptocurrencies in the past 24 hours, after crypto exchange Coinbase partnered with the project.

ZRX has gained over 40% in the last 24 hours. This whopping surge has helped the token to regain the crucial $1 dollar price level. The gains also helped ZRX break into the top 100 cryptocurrencies.

ZRX 24 hr trading vol up by Over 3600%

ZRX token’s massive gain is guided by the Coinbase social Non Fungible Token (NFT) marketplace announcement. The new NFT platform will be powered by the 0x token. The 0x protocol will be providing the platform a multi-chain digit asset swap support and other features. As per the release, the 0x protocol is 54% more gas efficient. The ZRX token’s 24 hour trading volume surged over 3600% to $1.49 billion.

The 0x token is trading at an average price of $1.02, at the press time. The token recorded a price change of $0.3 in the last 24 hours. ZRX is up by 81% in the past 30 days. Meanwhile, the ZRX token has become the 92nd largest cryptocurrency with a total market capitalization of $865 million. The token is slowly inching towards the 1 Billion market cap.

Will Warren, Co-founder of 0x labs, said that Coinbase using 0x to power their NFT’s marketplace is thrilling. The launch will eventually attract a huge amount of new users into the blockchain market.

NFT becoming a competitive space

Earlier, Coinbase has released that their Beta version of NFT is live and users are open to take a tour of the digital assets based on the ETH blockchain. The release mentioned that for now, the Beta testers will be able to create profiles and sell NFTs. However, the fees will comply with Web3 standards.

The NFT marketplace is heating up as the giants are jumping into the digital space. OpenSea is one of the biggest virtual digital marketplaces which is hosting almost 90% of the ETH bases NFT. Last month, Mark Zuckerberg also dropped some hints about NFTs coming to Instagram.