The crypto market has today taken a break from the bearish trends, while most cryptos post marginal gains, 0x (ZRX) has raked in enough gains over the last 24 hours to outperform the top 25 cryptocurrencies.
0x in the Market Today
At the slightest movement in the green, digital assets and their communities now celebrate as the seemingly unending correction of the cryptocurrency market continues to ravage the crypto market.
Cryptocurrencies are on the upside today, with over 60% of the entire market recording gains. While the gains of most cryptocurrencies are marginal, ZRX gains are worth mentioning.
Over the last 24 hours, ZRX has raked in gains of 3% and is exchanging hands at around $0.8222 apiece, which is over 6% up from the lows of yesterday. 0x is ranked as the 24th most valuable cryptocurrency with a market capitalization of $448.5 million.
0x is holding up strong in the bearish market, and many have attributed this to the rather shocking listing the digital asset got from one of the world’s leading cryptocurrency exchange, Coinbase.
While the listing of ZRX on Coinbase came as a surprise to many, the listing provided the desired results in the market, causing the token to surge hours after being listed, and perhaps the token’s current performance is an aftereffect of the Coinbase listing.
The Remarkable Rise of 0x (ZRX) Among the Ranks
At the beginning of this year, ZRX was ranked as the 59th most valuable cryptocurrency, at that time, holding a market capitalization of $695.9 million, and a trading value of $1.45.
It is no longer news that the cryptocurrency market has been undergoing correction throughout the year, leading to huge loses for digital assets. Although ZRX has shed over 40% of its value over the last ten months, the token has managed to climb up the ranks.
While 40% might seem much, 0x is in much better shape than most cryptocurrencies higher up the ranks. Bitcoin has lost more than 55% of its value, Cardano has shed above 80%, and Monero records loss in excess of 90%.
As a result of ZRX’s remarkable performance, and is less volatile than most other digital assets, the token has risen among the ranks. 0x (ZRX) was ranked 59th in the January blooming market, the digital asset is currently ranked as the 24th most valuable cryptocurrency by market capitalization.
0x (ZRX) Takes the First Step Towards Community Governance
Community governance and decentralization are factors that have drawn individuals towards a cryptocurrency project. 0x is now looking to follow the example of fan favorite token, TRON to become governed by its community.
0x, the organization behind the ZRX tokens has announced its plans to venture into community governance, stating its plans of “Building a Self-Sustaining Ecosystem through governance”.
0x has announced that the Ethereum Foundation Devcon team would be playing a supporting role in building a self-sustaining ecosystem for 0x. 0x Foundation is yet to announce when, and how it would go about the process of community governance.