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0x Protocol Price Prediction 2024: What Drives ZRX Price?

Last Updated March 26, 2024 10:42 AM
Peter Henn
Last Updated March 26, 2024 10:42 AM

Key Takeaways

  • The 0x Protocol bounced around the dollar for some time recently.
  • What’s next for ZRX?
  • One 0x Protocol price prediction says that ZRX can reach $2.70 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 March 26, 2024, ZRX was worth about $1.04.

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 March 26, 2024.

0x Protocol Coin Price Prediction

Let’s examine some of the 0x Protocol price predictions being made on March 26, 2024. 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.

2024 2025 2030
Prediction #1 $2.28 $2.70 $7.68
Prediction #2 $1.16 $2.40 $6.01
Prediction #3 $1.50 $2.13 $12.49

First, CoinCodex  had a short-term 0x Protocol price prediction that suggested the token would go to $1.034222 by April 2 before further to $0.992595 by April 25. The site’s technical analysis was bullish, with 27 indicators sending encouraging signals and three making bearish ones. 

0x Protocol Price Prediction for 2024

DigitalCoinPrice  said that 0x Protocol would reach $2.28 by the end of the year. CaptainAltCoin  thought it would drop to $1.16 in December. PricePrediction.net  thought ZRX would trade at $1.50 in 2023.

0x Protocol Price Prediction for 2025

Moving on, DigitalCoinPrice’s 0x Protocol price forecast said that it would trade at $2.70 in 2025. CaptainAltCoin thought it would be worth $2.40 then. PricePrediction.net said that ZRX would reach $2.13 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 $7.68 in 2030. CaptainAltCoin said it would reach $6.01 that year. PricePrediction.net’s ZRX price prediction claimed it would trade at $12.49 at the start of the next decade. 

Google Bard AI Price Prediction for 0x Protocol’s ZRX token (as of March 26)

Google’s Gemini AI platform gave the following price prediction for 0x Protocol on March 26. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short-term price prediction (2024)

Bard predicts that ZRX will trade between $1.31 and $1.40 by the end of 2024. 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 (2025)

Bard predicts that ZRX will trade between $1.70 and $2.50 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.

Recent Updates from 0x

In March 2024, 0x i ntroduced  0x Trade Analytics. Users can gain actionable insights and track key metrics about user behavior with in-depth charts and contextual insights from on-chain trades.

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 and 2024

ZRX price history
ZRX price in 2023 and 2024 | Credit: CoinMarketCap

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. It then ended 2023 at $0.3659 but jumped in line with all the crypto world in the first two months of 2024, retracing a bit only in March. It’s worth $1.04 on March 26, 2024.

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 $887.9 million, making it the 113th largest crypto by that metric. 

0x Protocol Price Analysis

0x Protocol Price Analysis
ZRX spiked in March

The price of ZRX fell back to its support of $0.18 on January 1, 2023, from its previous bull market high of $2.50. It traded sideway suntil November 2023, when we saw a breakout that reached a high slightly above $0.60. 

After falling to a higher low of $0.28 on January 20, 2024, a 375% parabolic run-up occurred, with ZRX spiking to $1.40 on March 14. This was likely its third wave of a new five-wave uptrend, with the subsequent fall of 40% to a low of $0.85 on March 24, being its fourth wave. 

Another upward advance is expected for wave five, and ZRX should see a higher high. Our target is the $1.80 area, which would be slightly above the descending resistance anchored at the all-time high of $2.70 back in January 2018.

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.

Who are the Founders of 0x Protocol?

Will Warren and Amir Bandeali began the development of the project in 2016, and on February 22, 2017, they released a white paper with the following abstract: “We describe a protocol that facilitates low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain.”

Who Owns the Most ox Protocol (ZRX) Tokens?

On March 26, 2024, one wallet held 16.95% of ZRX’ supply.

Richest ZRX Wallet Addresses

As of March 26, 2024, the five wallets with the most Xai tokens were

  • 0x1743dfe7eee92b75b18d4a876db5027433f27440. This wallet held 169,514,648 ZRX, or 16.95% of the supply.
  • 0x206376e8940e42538781cd94ef024df3c1e0fd43. This wallet held 98,350,940 ZRX, or 9.85% of the supply.
  • 0x58485ea7106891bdd94c37ced30c6fdbc5293b16. This wallet held 55,000,000 ZRX, or 5.50% of the supply.
  • 0xdb63d40c033d35e79cdbb21430f0fe10e9d97303. This wallet held 54,153,005 ZRX, or 5.42% of the supply.
  • 0xba7f8b5fb1b19c1211c5d49550fcd149177a5eaf. This wallet held 52,790,445 ZRX, or 5.28% of the supply.

Fact Box

Supply and distribution Figures
Maximum supply 1,000,000,000
Circulating supply (as of March 26, 2024) 847,496,055 (84.75% of maximum supply)
Holder distribution Top 10 holders owned 53% of supply, as of March 26, 2024

From the Whitepaper

In its technical documentation, or whitepaper , 0x Protocol says it is a protocol that facilitates the peer-to-peer (P2P) exchange of Ethereum-based assets.

Built by 0x Labs, the protocol serves as an open standard and core DeFi building block for any developer needing exchange functionality.

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.

0x Protocol Attention Tracker

ZRX Google search volume
ZRX Google search volume for the last 90 days. l Credit: Google
Here is a chart for 0x Protocol’s Google search volume for the past 90 days. This represents how many times the term “0x Protocol ZRX” has been Googled over the previous 90 days.

FAQs 

How many ZRX are there?

On March 26, 2024, there were about 847.5 million ZRX in circulation out of a total supply of one billion.

Will ZRX reach $10?

It could do at some point in the future. DigitalCoinPrice says it can happen by 2031, PricePrediction.net by 2032 and CaptainAltCoin by 2030.

What is 0x Protocol used for?

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.

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.

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