0x Protocol Price Prediction 2023: What is ZRX?

Key Takeaways

• On November 10, ZRX was worth $0.2765 – a rise of 75% in two months.
• The 0x Protocol hopes it can rise above the dollar again.
• What’s next for ZRX?
• One 0x Protocol price prediction says that ZRX can reach $0.95 in 2025.

The 0x Protocol’s ZRX token has been on an upturn in recent months, climbing more than 75% in the space of two months. 

The news  that it was to allow gasless swaps helped the decentralized exchange-related network gain the attention of investors. 

On November 10, 2023, ZRX was worth about $0.2765.

0x Protocol did not immediately respond to a request for comment.

But what is 0x Protocol (ZRX)? How does 0x Protocol work? Let’s see what we can find out, and also take a look at some of the 0x Protocol Price Predictions that were being made as of November 10, 2023.

0x Protocol Coin Price Prediction

Let’s examine some of the 0x Protocol price predictions being made on November 10, 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term 0x Protocol price prediction that suggested the token would fall to $0.2726 by November 15 before dropping further to $0.2546 by December 10. The site’s technical analysis was neutral, with 17 indicators sending bullish signals and 12 making bearish ones. 

0x Protocol Price Prediction for 2023

DigitalCoinPrice  said that 0x Protocol would reach $0.58 by the end of the year. CaptainAltCoin  thought it would drop to $0.2438 in December. PricePrediction.net  thought ZRX would trade at $0.25 in 2023.

0x Protocol Price Prediction for 2025

Moving on, DigitalCoinPrice’s 0x Protocol price forecast said that it would trade at $0.95 in 2025. CaptainAltCoin thought it would be worth $0.7157 then. PricePrediction.net said that ZRX would reach $0.55 in two years.

0x Protocol Price Prediction for 2030

Looking at a more long-term 0x Protocol price prediction, DigitalCoinPrice thought that the token would be worth $2.84 in 2030. CaptainAltCoin said it would reach $1.79 that year. PricePrediction.net’s ZRX price prediction claimed it would trade at $3.63 at the start of the next decade. 

Google Bard AI Price Prediction for 0x Protocol’s ZRX token (as of November 12)

Short-term price prediction (2023)

Bard predicts that ZRX will trade between $0.31 and $0.40 by the end of 2023. This is based on the following reasons:

• The overall cryptocurrency market is expected to continue to grow in 2023, which should support demand for ZRX.
• 0x Protocol is a leading decentralized exchange (DEX) protocol, and DEXs are becoming increasingly popular as users seek more control over their assets.
• 0x Protocol is also adding new features and functionality, such as support for non-fungible tokens (NFTs), which could further drive demand for ZRX.

Medium-term price prediction (2024-2025)

Bard predicts that ZRX will trade between $0.70 and $1.50 by the end of 2025. This is based on the following reasons:

• The continued growth of the cryptocurrency market and DEXs.
• The increasing adoption of NFTs and other emerging blockchain technologies.
• The development of new use cases for ZRX, such as in decentralized finance (DeFi) and Web3 applications.

Long-term price prediction (2030)

I predict that ZRX will trade between $2.00 and $5.00 by the end of 2030. This is based on the following reasons:

• The widespread adoption of cryptocurrency and blockchain technology.
• The success of 0x Protocol in becoming the leading DEX platform.
• The development of new and innovative products and services on top of 0x Protocol.

It is important to note that these are just predictions and the actual price of ZRX could be higher or lower depending on a variety of factors, including the overall state of the cryptocurrency market, the development of the 0x Protocol ecosystem, and global economic conditions

ZRX Price History

Now, let’s examine some of the highlights and lowlights of the 0x Protocol price history. While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a 0x Protocol price prediction.

When 0x Protocol first came onto the open market in 2017, it spent a lot of time hovering around $0.20. The bubble of late 2017 and early 2018 saw it shoot up and it reached an all-time high of $2.53 on January 9, 2018. The bubble burst and ZRX fell. The token spent much of 2019 and 2020 below the dollar. 

Things changed in 2021. The market went through an upturn and ZRX responded in kind, reaching a periodic high of $2.33. It then dropped, closing the year at $0.8044. 

2022 saw ZRX suffer, along with the rest of the crypto market. A series of market crashes damaged the token and it closed the year at $0.1483, making an annual loss of more than 80%.  

0x Protocol in 2023

So far, 2023 has been a year of ups and downs for ZRX. It broke past $0.30 in February, but the aftermath of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges in June saw it fall below $0.20. It was able to make a recovery in July and August, but a market downturn saw it drop to $0.1558 on September 11. 

Since then, ZRX has recovered and, on November 10, 2023, it was worth about $0.2765. At that time, there were about 847.5 million ZRX in circulation out of a total supply of one billion. This gave the token a market cap of around $234 million, making it the 141st-largest crypto by that metric. 

0x Protocol Price Analysis

ZRX’s current price is up more than 75% from its September low and up more than 85% since the start of the year. 

Is 0x Protocol a Good Investment?

It is hard to say. The platform has been on an upturn lately but is still a long way from reaching its peak prices.

As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in ZRX.

Will 0x Protocol go up or down?

No one can really tell right now. While the 0x Protocol crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in 0x Protocol?

Before you decide whether or not to invest in 0x Protocol, you will have to do your own research, not only on ZRX, but on other, related, coins and tokens such as Uniswap (UNI) or PancakeSwap (CAKE). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

0x Protocol (ZRX) Explained

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 standardized way of trading Ethereum (ETH). Instead, the scheme became a decentralized exchange that allowed users to trade independently.

The ZRX token supports the 0x Protocol, which is based on the Ethereum blockchain. 

How 0x Protocol Works

The 0x Protocol has three types of users. These are

• Makers. These are users who place orders on the exchange and wait for them to be matched, thus providing liquidity to the order book.
• Takers. These are people who make orders which are matched immediately on the exchange, thus removing liquidity from the order book.
• Relayers. These users look after the protocol’s order books and help with the communication between the books and the transactions that appear on the blockchain. 

The ZRX token rewards relayers. Holders can vote on changes to the network and set aside, or stake, ZRX to earn rewards. People can also buy, sell, and trade it on exchanges. 

Because the 0x Protocol is based on Ethereum, ZRX is a token, not a coin. You might see references to such things as an 0x Protocol coin price prediction, but these are wrong.

FAQs 

Further reading

SushiSwap Price Prediction 2023: What is SUSHI?

Storj Price Prediction: What is STORJ?

Blur Price Prediction: What is BLUR?

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.