0x Jumps 30% after Coinbase’s Listing

18 October 2018

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0x (ZRX) has grown over 30 percent in price after the world’s largest cryptocurrency exchange platform, Coinbase, officially listed ZRX into its web platform and mobile apps.

Coinbase’s Vice President and Consumer general manager Dan Romero announced the news in a press release:

“As of today, Coinbase lists ZRX on Coinbase.com and in Coinbase’s mobile applications. Coinbase users can now purchase, sell and trade with ZRX, as well as Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic and Litecoin. Trading with ZRX will be open to worldwide clients, but the United Kingdom and New York, USA residents, will not be able to use ZRX until regulators approve the listing.”

The 0x listing by Coinbase, which concentrates on securities, has been approved by the US Securities and Exchange Commision. But listing unregistered securities tokens can lead Coinbase into the SEC blacklist. Hence, the three-month delay of adding 0x on Coinbase’s platform. As for the other four digital assets, mentioned in July’s report, Romero stated:

“These digital assets require further regulatory explanations, and we can’t be certain if Cardano (ADA), Stellar (XLM), ZCash (ZEC) and Brave Attention Token (BAT) will be available for trading via our platform. Also, some of the tokens may be listed solely for buying and selling purposes, and sending and receiving assets between wallets could be forbidden.”

The 0x listing on Coinbase shot ZRX’s price into the sky, with over 30% gains in just minutes and adding over $200 million of market cap overnight. ZRX got to #22 in the coinmarketcap.com rank list based on market capitalization, overpassing Maker and Bitcoin Gold.

Integrating ZRX into Coinbase.com and Coinbase’s iOS and Android apps is a giant leap for 0x. Other fiat-enabled crypto exchanges can now, without consideration, list 0x into their exchanges, since ZRX saw the “green light” from local regulatory institutions.

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