Key Takeaways
Donald Trump’s re-election as US President caused a surge of interest in cryptocurrency as the market expected a more crypto-friendly administration. When Trump appointed 0x Protocol adviser David Sacks as his crypto czar, investors and traders honed in on the ZRX token, sending the price up. Sacks had been upbeat about ZRX since 2018, proclaiming himself a “big fan.”
On Dec. 10, 2024, ZRX was worth about $0.584.
Let’s examine some of the ZRX predictions made by CCN on Dec. 10, 2024. It is crucial to remember that price forecasts, particularly for volatile assets like cryptocurrencies, often turn out to be inaccurate.
Let’s look at CCN’s ZRX price prediction on Dec. 10. The projections are made using the wave count method. Then, 20% is added and removed to derive the minimum and maximum targets.
Minimum ZRX Price Prediction | Average ZRX Price Prediction | Maximum ZRX Price Prediction | |
---|---|---|---|
2025 | $1.36 | $1.70 | $2.04 |
2026 | $0.96 | $1.20 | $1.44 |
2030 | $1.04 | $1.30 | $1.56 |
The most likely wave count suggests that ZRX started an A-B-C corrective structure (white) at the beginning of 2023. Wave A developed into a leading diagonal.
If wave C is 1.61 times the length of wave 1, the ZRX price will reach a new all-time high of $3.53.
The sub-wave count (black) implies that an extension is likely.
If wave C has the same duration as wave A, ZRX will reach the target in October 2025.
Then, it could begin a decline similar to the one after the all-time high.
During these projected upward and downward movements, the wave count method gives ZRX price predictions of $1.70 and $1.20 for the end of 2025 and 2026, respectively.
Finally, we use the rate of increase for the past five years to make a prediction for the end of 2030. ZRX has increased by 126% in the 1,820 days since December 2019. This amounts to a rate of increase of 0.07% per day.
Projecting the same increase until the end of 2030 leads to a high of $1.30. Adding and removing 20% to this value gives the maximum and minimum predictions of $1.56 and $1.04, respectively.
The wave count method predicts a ZRX price range between $1.36 and $2.04 by the end 2025.
The wave count method predicts that ZRX’s price will range between $0.96 and $1.44 by the end of 2026.
The 0x Protocol price prediction for the end of 2030 uses the current rate of increase. A price between $1.04 and $1.56 is likely if a similar rate of increase continues for the foreseeable future.
Since July 2023, the ZRX price has increased alongside an ascending support trend line (white icons). More recently, the trend line was validated several times between August and November 2024. After beginning a parabolic increase in November, ZRX broke out from the $0.55 horizontal area and reached a high of $0.91.
After a slight decline, ZRX is attempting to validate it as support. If successful, this would pave the way for an upward movement toward the yearly high region of $1.30.
Technical indicators are bullish, supporting the continuation of the upward movement. The Relative Strength Index (RSI) has crossed above 50, and the Moving Average Convergence/Divergence (MACD) has moved above 0.
So, the weekly time frame suggests the ZRX price will eventually find support and increase toward the long-term horizontal resistance at $1.30.
The ZRX price prediction for the next 24 hours is bullish. ZRX will likely validate the $0.55 horizontal area as support and gradually increase toward the next resistance at $1.30.
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Dec. 10 2024, 0x Protocol’s ATR was 0.0871, suggesting relatively high volatility.
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Dec. 10, 2024, the 0x Protocol RSI was 53.37, indicating slightly bullish conditions.
The CCN Strength Index combines an array of advanced market signals to measure the strength of individual cryptocurrencies over the last 30 days.
Every day, it assigns a strength score, ranging from 0 to 100, to the top 500 assets by market capitalization on CoinMarketCap, focusing on both trend direction and the intensity of price movements.
The index dynamically adapts to rapid changes. For example, an asset experiencing a 100% increase within a short timeframe would see a sharp jump in its score to reflect the intensity of the rise.
However, should that asset stabilize at this new price level, the score will gradually taper down and align with the dampened momentum as the movement normalizes. The same principle applies to rapid declines: a sudden drop will spike the score downward, but the score will slowly adjust back up as volatility decreases.
On Dec. 10, 2024, 0x Protocol scored 71 on the CCN Index, suggesting momentum strong enough to suggest an imminent trend shift.
ZRX is part of the decentralized exchange and decentralized finance categories, so let’s compare it with other projects from the same categories with similar market capitalization.
We looked at the 0x Protocol price history and found the best times to buy ZRX.
Day of the Week | Friday |
Week | 6 |
Month | December |
Quarter | First |
Let’s look at some key dates in the 0x Protocol price history . While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can give us some useful context when it comes to making or interpreting a ZRX price prediction.
Time Period | ZRX Price |
---|---|
One week ago (Dec. 3, 2024) | $0.678 |
One month ago (Nov. 10, 2024) | $0.3757 |
Three months ago (Sept. 10, 2024) | $0.2894 |
One year ago (Dec. 10, 2023) | $0.4454 |
Five years ago (Dec. 10, 2019) | $0.2323 |
Launch price (Aug. 16, 2017) | $0.104 |
All-time high (Jan. 9, 2018) | $2.53 |
All-time low (Aug. 16, 2017) | $0.104 |
The market capitalization, or market cap, is the sum of the total number of ZRX in circulation multiplied by its price.
On Dec. 10, 2024, 0x Protocol’s market cap was $449 million, making it the 166th-largest crypto by that metric.
On Dec. 10, 2024, one wallet held more than 12% of the ZRX supply.
As of Dec. 10, 2024, the five wallets with the most ZRX were:
Supply and distribution | Figures |
---|---|
Maximum Supply | 1,000,000 |
Circulating supply (as of Dec. 10, 2024) | 848,396,562 (84.83% of total supply) |
Holder distribution as of Dec. 10,, 2024 | Top 10 Holders own 52.8% of the supply as of Dec. 10, 2024 |
In its technical documentation or whitepaper , 0x Protocol describes itself as facilitating the peer-to-peer (P2P) exchange of Ethereum-based assets.
Built by 0x Labs, the protocol is an open standard and core DeFi building block for any developer needing exchange functionality.
The 0x protocol was created by ZeroEx Inc., a company founded in 2017 by Will Warren, a former technical adviser to Basic Attention Token (BAT), and Amir Bandeali, a former trader.
The protocol’s idea was to create a space where any asset, whether crypto coin, crypto token, fiat currency, commodities, stocks, or even online gaming items, could be tokenized 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 based on the Ethereum blockchain.
The 0x Protocol has three types of users. These are
The ZRX token rewards relayers. Holders can vote on network changes and set aside, or stake, ZRX to earn rewards. People can also buy, sell, and trade it on exchanges.
It is hard to say. The ZRX price has been trending downward since 2018. However, it remains to be seen whether David Sacks’ appointment can help create lasting interest in the crypto.
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 that prices can and do go down and up.
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 Aerodrome Finance (AERO). Either way, you must also ensure you never invest more money than you can afford to lose.
If it does, our price analysis suggests ZRX won’t reach $10 until at least the 2030s.
The ZRX token rewards users on the 0x Protocol. Holders can vote on changes to the network and set ZRX aside in return for rewards. People can also buy, sell, and trade ZRX on exchanges.