0x (ZRX) Skyrockets on Coinbase Listing

0x (ZRX) Skyrockets on Coinbase Listing

October 17, 2018

After adding support for 0x (ZRX) on its professional investor platform, Coinbase has announced a full listing of the coin on the exchange.

0x (ZRX), an ERC-20 token for decentralized exchanges, surged as much as 35% on Wednesday morning after Coinbase listed the asset on its retail trading platform.

Within days of adding support for ZRX on its professional investor platform Coinbase Pro, the exchange said in a Tuesday blog post that users are now able to buy, sell, send, receive, or store 0x on Coinbase.com as well as its iOS and Android apps.

Notably, UK and New York State residents will have no access to ZRX, presumably because of the unclear regulatory climate in these locations.

ZRX is joining Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC) on the Coinbase list of supported digital assets. The latest addition comes as no surprise as the exchange had previously signaled its intentions to “explore” the inclusion of a number of new cryptocurrencies, including ZRX, Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), and Zcash (ZEC). As noted by the company last month, all new assets on the platform would have to meet its revamped listing criteria.

“One of the most common requests we hear from customers is to be able to trade more assets on Coinbase. Last month, we announced a new process for listing assets, designed in part to accelerate asset addition. We are also investing in new tools to help people understand and explore cryptocurrencies,” Coinbase consumer president and general manager Dan Romero wrote on Tuesday.

The price of ZRX jumped 17% to $0.89 in the hour after Coinbase announced the addition to its retail platform. The coin reached a similar price on October 11, when the Coinbase Pro listing was unveiled.

Investor interest grew on Wednesday morning, with ZRX extending its gains to as much as 35%. As of 07:34 UTC, the cryptocurrency was trading 25.92% higher at $0.93. Its market capitalization stood at $507.5 million, placing the token at number 22 on the Coinmarketcap crypto chart.


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