ZRX price prediction: will ZRX coin go up?
ZRX could be an increasingly important crypto token. We look at what might happen to it.
ZRX, also known as 0x coin, is fast becoming an important player in decentralised finance, or DeFi. In this article, we will take a look at what has happened to it, and what might happen in the future.
Before we look into what people are saying the ZRX price prediction for 2021 and beyond will be, let us take a look at what the token actually is.
A quick introduction
The ZRX coin is part of the decentralised finance (DeFi) world and is linked to the 0x protocol. The 0x protocol was created by ZeroEx Inc, a company set up in 2017 by Will Warren, a former technical adviser to Basic Attention Token (BAT), and Amir Bandeali, a former trader.
The idea behind the protocol was to create a space where any sort of asset, whether crypto coin, crypto token, fiat currency, commodities, stocks, or even online gaming items, could be tokenised and traded on the blockchain.
Initially, the plan was to create a standardised way of trading ether. Instead, the scheme became a decentralised exchange that allowed users to trade independently.
The protocol’s mission statement is: ‘Creating a tokenised world where all value can flow freely’, and the ZRX coin is the protocol’s native token.
The ZRX token is used to help reward people called relayers, who make the connections that enable trades to take place. However, it is not just through serving as a relayer that you can earn tokens – they are available to trade on a number of exchanges, both centralised and decentralised.
Owning ZRX coin gives you voting rights on the protocol, and token holders can stake ZRX to earn liquidity rewards. There is a fixed cap of one billion ZRX tokens, of which 845,341,602, or roughly 84.5%, are in circulation. It operates on a proof-of-work basis (the relayers) but is not mineable in the traditional sense.
You might see or hear about the 0x coin. It is the same thing as the ZRX coin, which has this alternative name because of its association with the 0x protocol. We will mostly be calling it the ZRX coin here.
While the past ZRX price is no indication of how the token will perform in the future, a look at the history of the ZRX coin does give us some context on which to base a ZRX coin price prediction.
The ZRX coin launched in 2017 after an Initial Coin Offering (ICO) raised $24m from a range of sources, including Pantera Capital, FPG Capital and Polychain Capital. Interestingly, Polychain’s Olaf Carlson-Wee and Joey Krug from Pantera both serve as advisers to 0x.
The story so far
The coin entered the general market in 2017 and soon broke through $0.20. It hovered around the $0.20 mark for much of the rest of 2017, but in 2018 it got caught up in that year’s crypto boom, reaching an all-time high of $2.53 on 9 January, according to data from CoinMarketCap. The market soon corrected itself and it dropped back below $1 by close of play on 21 February.
There was then a series of peaks and troughs before the price settled at somewhere between $0.20 and $0.40 for the next two years.
Things really started to change in the first few months of 2021. The crypto boom at that time also affected ZRX, which started 4 February at $0.76 and closed the following day at $1.60, more than doubling in the space of 48 hours. A 14 February intraday high of £2.01 was the best it performed in that particular run, and it spent most of March below $1.50, rallying at the end of the month to hit an intraday high on 1 April of $2.09.
April saw another boom time for ZRX, and it reached an intraday high of $2.33 on 13 April. The bears then seemed to take over and the coin dropped to an intraday low of $1.32 on 23 April. However, what looked like a recovery was on the way and it reached an intraday high of $2.18 on 7 May.
The price fell back a bit, but what happened in the great crash of 19 May will have thrown a lot of people. ZRX started trading at $1.60 before dropping to an intraday low of $0.829, a fall of roughly 50%. While there was some recovery, and it ended the day at $1.01, it was obvious that ZRX was not going to go back to where it was just over a month earlier at any time soon.
The coin dropped to a low of $.054 on 20 July, and has peaked and troughed since then. On 11 October 2021, ZRX was trading at roughly $1.06.
0x/USD price history
|Oct 25, 2021||0.99466||0.00853||0.86%||0.98613||0.99926||0.98210|
|Oct 24, 2021||0.98641||-0.01884||-1.87%||1.00525||1.01246||0.96479|
|Oct 23, 2021||1.00498||0.01048||1.05%||0.99450||1.01355||0.97888|
|Oct 22, 2021||0.99477||-0.00264||-0.26%||0.99741||1.02345||0.97880|
|Oct 21, 2021||0.99753||0.00325||0.33%||0.99428||1.07965||0.98705|
|Oct 20, 2021||0.99448||0.03642||3.80%||0.95806||0.99603||0.94782|
|Oct 19, 2021||0.95806||-0.00336||-0.35%||0.96142||0.97884||0.93898|
|Oct 18, 2021||0.96142||-0.02032||-2.07%||0.98174||0.98915||0.94390|
|Oct 17, 2021||0.98173||-0.01266||-1.27%||0.99439||1.01566||0.95372|
|Oct 16, 2021||0.99456||-0.02152||-2.12%||1.01608||1.02525||0.98449|
|Oct 15, 2021||1.01533||-0.01053||-1.03%||1.02586||1.02672||0.96980|
|Oct 14, 2021||1.02572||0.00555||0.54%||1.02017||1.03717||1.00101|
|Oct 13, 2021||1.01977||0.02871||2.90%||0.99106||1.02038||0.96533|
|Oct 12, 2021||0.99112||-0.01693||-1.68%||1.00805||1.00810||0.93162|
|Oct 11, 2021||1.00820||-0.02755||-2.66%||1.03575||1.06727||0.98476|
|Oct 10, 2021||1.03565||-0.07196||-6.50%||1.10761||1.11827||1.02474|
|Oct 9, 2021||1.10774||0.03287||3.06%||1.07487||1.10954||1.04348|
|Oct 8, 2021||1.07468||0.05543||5.44%||1.01925||1.09966||1.00279|
|Oct 7, 2021||1.01857||-0.00970||-0.94%||1.02827||1.03189||0.98598|
|Oct 6, 2021||1.02829||0.00965||0.95%||1.01864||1.05405||0.94799|
ZRX price prediction: what the experts say
There are a number of analysts offering a ZRX price prediction. Wallet Investor says the token’s price will be $1.66 in a year’s time and $4.10 in five years’ time. Meanwhile, TradingBeasts makes an 0x coin price prediction that it will close 2021 at $1.35. The same site says the ZRX price will be somewhere around $1.28 in October 2022, around $1.05 in October 2023, and should close 2023 somewhere in the region of $1.14.
DigitalCoinPrice’s 0x crypto price prediction says the coin should close 2021 around $1.7, October 2022 should see it stand at about $1.66 and it should reach $2.38 a year after that. The site says the ZRX price will hit $2.81 in October 2024, $3.29 in October 2025 and go up to $3.74 a year later before dropping to $3.24 in October 2027. It suggests there will be a big recovery to $4.39 in October 2028 before the ZRX price lowers to $4.30 in December of that year.
Finally, gov.capital’s ZRX price prediction gives an average price of about $0.948 on 31 December 2021. It says the average price on 11 October next year will be around $1.54 and it thinks it will get to $2.33 a year after that. It predicts ZRX will be worth $3.35 on 11 October 2024 and a year after that it should be around $4.217. In October 2026, the site says, ZRX will be worth $5.21.
Cryptocurrencies are so volatile that it is hard to say if any of them is a good long-term investment. You can trade that volatility, but it’s a risky business.
So is it worth trading? For instance, if you think that recent crashes in the crypto market are going to be a temporary blip, then it might be a good buy. On the other hand, if you think the recent crashes are a sign that the market is correcting itself after a long boom period, and you also think the high prices from earlier this year were an anomaly, then it might be a bad buy.
However, it is vital that you do your own research. Remember that cryptocurrencies are highly volatile, that prices often go down as well as up, and that you should never trade more than you can afford to lose.
It might do. On the other hand, it could easily go down. Although many analysts predict things will get better for the token, predictions are very often wrong. As we have said, you need to do your own research and come up with your own conclusions about the future of ZRX.
If you want to buy ZRX, then you can do so at a range of exchanges, including Currency.com. Just remember to do your research and never invest more money than you can afford to lose.