Breakout Continues for 0x, Still Seen as Underpriced

As decentralized exchanges see rising popularity, the 0x project is back as one of the hottest assets.

For days now, the 0x (ZRX) project has been one of the few assets resisting the sliding trend. In the past two months, ZRX has not stopped to take a breather since pushing off the bottom at $0.39 in the middle of March. Now, ZRX has grown to $1.82, up nearly 20% in the past week, as volumes continue to increase each day.

Trading has become more consistent for this asset, despite the fact that the peak volumes from December were never repeated. But day-to-day trading remains robust.

In May, the 0x project gave some proof that its ecosystem is growing and thriving, with increasing activity and volumes:

https://twitter.com/aqxu/status/994595656915447813

The fate of the 0x project is improving, as more post-ICO tokens seek a way to liquidity. Only a handful are added to mainstream exchanges. The biggest competitor to 0x is currently IDEX, along with a handful of other decentralized projects - the Stellar DEX, Komodo’s Barter DEX, as well as Bancor.

Recently, the movement of the NEXO token to the DDEX increased volumes, taking the 0x decentralized exchange to being the second biggest. But some users see this as a fluke, and that the exchange must wait for better organic growth. But markets such as Kyber Network, Radar Relay and others still have limited transactions, according to this Etherscan statistics tool.

The 0x project has promised better efficiency after Ethereum upgrades, the Plasma solution, sharding, and the Casper stage of the project. But at the moment, the ZRX token remains a speculative asset, which has repeated its peak in Bitcoin prices. The gradual growth is encouraging with the possibility to see 0x rise to a new price range, never returning to the lows from the bear market at the start of 2018.