0x (ZRX) Price Prediction 2021-2025 - Buy or Not?
0x is a protocol for the peer-to-peer exchange of tokens on the Ethereum blockchain. It has a unique architecture that makes 0x faster than other decentralized exchanges. As Ethereum is not going to vanish any soon, 0x will have a job. Numerous blockchain projects are built on top of the Ethereum blockchain. Some of them will die out in the future, others will definitely prosper or at least will be used by some. As long as some of these projects will manage to keep relevance, the 0x protocol will keep on developing and expanding.
The protocol has its native token called ZRX. These tokens are used for voting and staking on 0x. The price of ZRX repeated many of the overall cryptocurrency market trends. Now, ZRX is one of the top 50 cryptocurrencies by market cap. As the 0x protocol has its benefits for the Ethereum token traders, we believe that ZRX has some potential on the market. In this article, we will try to figure out how much it can cost by the end of 2021, 2023, and 2025.
The analysis of the past price changes and the information on the upcoming economic events in the world let us make reliable forecasts. Before we start reading the price changes, let's have a short review of the token and the platform it was made for. Without this knowledge, we won't be able to evaluate the token's market potential.
The platform was launched after the ICO campaign that took place in the summer of 2017. The 0x team raised $24 million in Ether. The creators of 0x are Will Warren and Amir Bandeali.
0x is multi-functional. One of the main functions is kind of a decentralized exchange for the trading of the Ethereum-based tokens. Unlike other decentralized exchanges, it performs off-chain transactions. It makes trading on 0x much faster and cheaper than on DEXs and this is one of the main selling points of 0x. Most decentralized exchanges require much gas to perform transactions. It makes them more expensive than using centralized exchanges. Moreover, the process of trading is too slow. That's why many people lean to centralized platforms despite the fact that they are less secure and provide too few tools for the preservation of privacy. 0x protocol is slower and more expansive than centralized exchanges but not to that extent as DEXs. As for security and privacy, it can be compared to DEXs. That is what makes this protocol popular and without a doubt, the project will continue its existence and development.
The off-chain transactions are based on the relay technology. Off-chain relays help to keep the network light and liquid. Moreover, this principle allows not to spend so much gas on trading as only settlement takes place on-chain while the rest of operations (placing orders, matching, withdrawals, etc) are executed off-chain for free. It saves a lot of time and money.
All the actions besides settlement are "broadcasted". Relayers broadcast the orders taken from numerous private and public order books. More than that, they are capable of hosting order books, too. Relayers are rewarded with ZRX as they bring liquidity to the platform.
The additional feature of 0x is that makers can signal if they are broadcasting an order to a specific taker and block others from taking this order. The participants of the exchange can communicate with each other through the 0x protocol using several available channels.
0x doesn't charge its users with commissions and doesn't apply any hierarchy to them. The trading process is executed through free smart contracts. The protocol is designed that way so DApps users could easily access 0x. The protocol can be used for building DApps on top of it. These DApps can be utilized to create or use public liquidity pools and collect fees. It means that the protocol can be used for the building of cryptocurrency exchanges and other DApps and platforms. Such projects as Augur, Publish0x, Gnosis, district0x, and many others are built on 0x.
ZRX can be used for participating in the governance of the 0x platform. That's quite a standard system of voting of stakeholders. This voting determines the future steps in platform development.
ZRX became available for trading on August 16, 2017, not long before the cryptocurrency boom. What is good about the ZRX price is that its all-time low took place on its very first day on the market as soon as the ICO campaign was finished. That day the price was around $0.1 and since that moment it never was this low. Moreover, even this price was twice higher than the price ZRX had during the ICO. The next day, ZRX already cost $0.22. The highest point in August was on August 19 when the ZRX price surpassed $0.5 for a while. From the very beginning, the project was supported by the HitBTC exchange. In September 2020, the token was listed on Binance. That month the price was not stable and declined from $0.4 to $0.2 by the end of September. The price was hovering around $0.2 until December. That month the coin was added to a large exchange OKEx and the entire cryptocurrency market began to rise quickly. That's when ZRX started its way towards its all-time high. On December 6, the ZRX price reached $0.3 for the first time in 3 months.
On December 21, the price reached its new all-time high ($0.645) and started to update this value regularly. On January 1, 2018, the price has surpassed the mark of $1 for the first time. On January 9, it hit the historical all-time high reaching the price of $2.53 per coin. Interestingly, the price of ZRX was growing for the entire month, being isolated from the decline of the Bitcoin price that began at the end of December. Such independent behavior showcases the strength of this token. However, ZRX wasn't cool enough to continue growing when the overall market was in depression. Therefore, it dropped, too.
Throughout January the token price was around $1.5 to $2. In February, when BTC continued the downfall, ZRX was still above $1 and only by March, the 0x token price completely went below $1. In the middle of the month, the price was already around 50 cents and only in late April ZRX has reached $1 value again. Not for a long time and not apart from the rest of the cryptocurrency market but still. May of 2018 was quite positive. The price was around $1.5 most of the time peaking at $2 at some point. In June the ZRX price started to meltdown and almost went to the March values. However, in July ZRX was traded above $1 again, and only in August, the price began the slow way down. At the lowest points in September, it was as low as $0.46. In October, the token was added to the Coinbase exchange. It brought new investors, and the price started to rise. Most of the time it was below $1 although on October 17 ZRX surpassed this level for a moment. It's important to mention that this surge is another example of ZRX price growth without a straight influence from the general market trend. Nevertheless, in November the market started to shrink, and ZRX has dropped below 50 cents by December. For two months, it was around $0.3 and in February, the price rolled to $0.25.
Since March the price began to go up and down in an interval between 22 and 37 cents. It lasted for several months. At that time, Bitcoin had several short surges. In August it gained significant value, but ZRX hasn't reacted to it. Moreover, it's price dropped below $0.2 for the first time for a long period while BTC was going up. For the entire August and most of September, ZRX was below 20 cents. In the second half of September, the coin began to grow and surpassed a $0.2 support level. Until the middle of November, several times it went above the $0.3 mark. Since the second half of the month, the price was oscillating below 30 cents per coin dropping below 20 cents in late December. For the rest of the winter, ZRX was traded at an interval of 20 - 30 cents. The powerful crypto market downfall that took place on March 13 has its effect on the ZRX price as well. The price dropped by one third (it declined from 22 to 15 cents). The following decline of the fiat money system played a positive role in the cryptocurrencies. Following the huge trend, the price of ZRX has grown during the spring. Now (December 23) it's around 34 cents. The same price it had in June while BTC still hadn't recovered that well after March 13. However, now BTC is growing much faster while ZRX has the same price it had 6 months ago. The market capitalization of ZRX is $259,016,944 which makes it the 62nd largest market cap in the cryptocurrency industry.
As the third version of the 0x protocol gets deployed, ZRX is going to get a little further in terms of price. The tech upgrade may bring new investors. In the situation when the traditional money appears to be weaker than cryptocurrencies, the functionality of fast, cheap, and private crypto exchange (that's exactly what 0x provides) might bring more users to the platform. The tendency to invest in crypto that was started in the spring of 2020, will eventually lead some people to buy ZRX tokens as the functionality of the 0x platform will get more useful. By Q2 of 2021, the price of ZRX might reach around $0.8.
As the post-pandemic crisis will affect many spheres and probably will be one of the worst in decades, cryptocurrencies will keep on growing for the entire 2021 and probably 2022. By 2023 the growth of prices will get slower because the world economy will recover (at least to some extent) by that time. Nevertheless, such a platform as 0x won't lose a dime of its value. Quite the opposite, the platform will be integrated into partners' services and will get more notable. If the development keeps on going as actively as now, by the end of 2023 the price will reach $1.4 at worst.
It is hard to predict the price of ZRX for such a distant date, so let's just note that all the time, the 0x team was doing a great job and if they manage to keep their power, the price may finally reach its all-time high level again and even go further and get to new heights reaching $2.8 or even more.