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Ox (ZRX) Coin Breakout: Why $1.20 is a Near-Term Possibility

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0x ZRX coin

Ox (ZRX) is up another 25.2% at $0.94.

That’s quite a run for a coin that traded at just 53 cents in August 2018.  The latest move pushed the coin above triple top resistance dating back to late August 2018.

If it can succeed in breaking the early August 2018 resistance at $1, we could see a near-term test of $1.20.  Given recent excitement, we’d like to see a potential long-term test of $2.

All thanks to the Coinbase.com Catalyst

On October 8, 2018, there was speculation that Ox (ZRX) may be the next addition to Coinbase.  At the time, it traded at just 74 cents.  However, it is now up to 80 cents.  Three days later, Coinbase Pro listed the coin.  Now barely a week later, Coinbase announced full support for the coin.

Coinbase users can now buy and sell ZRX, as well as store it on the site.

“ZRX will be available for customers in most jurisdictions, but will not initially be available for residents of the United Kingdom or the state of New York,” says the Coinbase blog.

“We are also investing in new tools to help people understand and explore cryptocurrencies. To that end, the exchange’s website now includes an informational resource page for the Ox (ZRX) token, as well as a more general educational page on cryptocurrencies in general.”

Ox (ZRX) – A Unique Decentralized Coin 

Built on the ETH blockchain, Ox uses smart contracts to allow for easy operation of DEX.  It hopes to introduce various assets on the blockchain with tokenization to make that possible.  Therefore, users will have full control of their own assets during an exchange.

Moreover, this will provide users with greater security, as compared to a centralized exchange.

Additionally, the team is attempting to reduce overall costs by reducing individual transaction charges.  With Ox (ZRX), users will be charged a single fee once the transaction is complete.

 

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