An upcoming mainnet upgrade and increasing DEX market share back 0x’s (ZRX) recent double-digit rally.
Decentralized exchanges (DEX) are a giant leap in permissionless and transparent trading, and they exist as fantastic alternatives to centralized exchanges.
While DEXs ease the process of listing new ERC-20 tokens and remove the need to pay a central authority high listing fees, they stil have the issue of high gas fees. This is precisely the issue 0x Protocol (ZRX) aims to solve.
The 0x Protocol (ZRX) ICO raised $24 million in August 2017 for 50% of its supply, with no pre-sale. As an ERC-20 token, the permissionless Protocol connects liquidity providers through smart contracts, therefore aggregating liquidity.
The protocol allows interoperability between different decentralized applications and DEXs. Thus, ZRX should not be seen as a Uniswap competitor, as it benefits from the sectors’ increased liquidity.
0x Protocol (ZRX) token price in USD. Source: TradingView
Although the ZRX token has been quite volatile over the past