0x Blasts Higher on Coinbase Listing Rumour

0x coin

0x has blasted higher as rumours of an imminent Coinbase listing appeared to be confirmed. Posting screenshots on a Medium article, users spotted that the ZRX coin had been added to the reporting section of the Coinbase platform.

ZRX was 16% higher on Monday as investors digested the news and anticipated a surge in volume through the addition to one of the largest and mainstream cryptocurrency exchanges.

The 0x protocol seeks to facilitate the the trading of any type of asset and have been prominent in gaming and prediction markets. In a Medium post in June, the project’s co-founder Will Warren stated their ambition to tokenize financial assets saying,

We envision a world in which all forms of value are tokenized on public blockchains. This includes fiat currencies, stocks, bonds, commodities, debt instruments, real estate, video game items, digital collectibles, software licenses, reputation and much more. …we can build a global financial system that is more efficient, transparent, and equitable than any system that has existed in the past.

ZRX has moved 50% higher from the September lows and is testing resistance near $0.80. Key resistance for ZRX will be around the $1.25 level.

ZRX may continue higher, however this rally highlights the short memory that traders often display. Despite an inital rally, Ethereum Classic (ETC) is 38% lower from its own Coinbase listing announcement in July, however we can give 0x the benefit of the doubt this time as the Ethereum blockchain has been under continued pressure with project’s like Tron surpassing Ethereum’s performance.

 

Tron Rallies 15% as Next Upgrade Is Confirmed

TRX coin

Tron’s TRX is up 15% in the last 24 hours as the project’s founder confirmed the release of a new upgrade.

Tron’s CEO Justin Sun took to Twitter to announce that the network will upgrade to Odyssey 3.1 and that the Tron Committee function and the Tron Virtual Machine (TVM) will go live, “marking the start of the smart contract era”.

justin sun

Sun confirmed that the upgrade will make Tron 200x faster than Ethereum and 100x cheaper than EOS.

In an interview with Investopedia, Tron’s founder also confirmed that he saw the financial industry moving to adopt the blockchain and that they plan to enter that space in the future.

Commenting on the smart contract issue, Sun said:

The TVM is fully compatible with Ethereum’s EVM. Additionally, it costs a fraction of one TRX to support smart contracts on the TVM and to create TRON accounts. Because the cost is so minuscule, we say “almost free”. By comparison, creating and supporting contracts on Ethereum and EOS can cost a user more than $10.

The price of TRX moved to test previous resistance near the $0.28 level. If we see a move higher, the next targets will be $0.40 and $0.80.