Altcoins
ZRX Coin News: Coinbase-listed 0x Shows The Best Performance During Market Crash
ZRX coin news announces 0x listing on Coinbase
For several weeks now, numerous ZRX coin news have been announcing that 0x has been trading rather well when compared to other cryptocurrencies. In fact, 0x (ZRX) has become one of the most highly concentrated coins on the market.
Ever since May 2018, numerous experts and cryptocurrency analysts have been claiming that ZRX will eventually end up on Coinbase. This has finally happened, and 0x was officially welcomed to Coinbase’s list yesterday, October 11th.
The decision to accept 0x has had significant consequences on the coin’s price, with recent ZRX coin news claiming that 0x was one of only a few coins to experience a price surge during yesterday’s market crash. At the time of writing, ZRX has a price of $0.754702 per coin, with a 14.32% increase in the last 24 hours. This would be a huge development for the coin even if there wasn’t a price drop that has led some of the largest cryptos to lose anywhere from 6% to 15% of their value on October 11th.
In Coinbase’s own recent statement, the exchange explained that ZRX trading will begin as soon as sufficient liquidity is attained. However, 0x will still not be available in New York, due to this state’s current laws.
Two ERC20 tokens show the best performance
As for 0x itself, this is an ERC20 token, which means that it was created on Ethereum’s network. While it is only one among over 500 digital currencies to be created on Ethereum’s blockchain, it is among the most successful ones, which is something that Coinbase itself has confirmed with their latest move.
Thanks to the listing, many are expecting to hear a lot more ZRX coin news in the near future. Getting listed on Coinbase is a goal for every digital currency, and a huge game-changer for those that manage to achieve it. This is due to the fact that Coinbase is very strict and picky when it comes to listing new coins. Despite the decision to open up to additional cryptocurrencies, Coinbase has still only adopted very few of them. However, more coins await their turn, comforted by the fact that Coinbase at least has them on its radar.
While ZRX coin news about 0x’s excellent performance during yesterday’s price drop is deserving of praise, another coin fared pretty well in such unfriendly conditions. This other coin is none other than Maker (MKR), which is ranked as 22nd on CoinMarketCap’s list, while ZRX holds the rank of 25.
Maker is yet another ERC20 token, with a large focus on smart contracts. Thanks to the fact that this is a coin backed by Ether, it managed to avoid most of the volatility issues that numerous other coins still continue to suffer from.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Jeff Kramer via Flickr
Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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