Coinbase has deliberately refrained from mentioning any specific tokens.
The big news in the cryptocurrency community now is that 0x could possibly be included on the biggest cryptocurrency exchange in the US. But is there any basis to this?
What is 0x?
0x is an “open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum Blockchain.”
Explanation: a decentralised exchange is a cryptocurrency exchange which is run entirely through smart contracts, making it completely peer-to-peer. The advantage of this is that no third party is involved, which is both cheaper because there are no exchange fees, and safer because the user is always in control of his money.
However, costs are still incurred because transactions are processed on the blockchain. 0x aims to improve on this by focusing on off-chain ordering, greatly limiting the number of commands that are processed on the blockchain. To do this, it utilises 'relayers', which are nodes that broadcast orders. Only final, value transactions affect the main blockchain, a system which "reduces blockchain bloat."
0x was founded in October 2016, and two weeks ago underwent an upgrade. It was recently listed on a small-scale London-based cryptocurrency exchange too. As of now, each ZRX token is worth $1.38, and the network has a market capitalisation of $728.3 million, according to coinmarketcap.com.
There is some speculation that the coin could be listed on a major America cryptocurrency exchange, which is significant because if true it will likely cause this price to rise.
The exchange in question is GDAX, a major cryptocurrency exchange operated by Coinbase of San Francisco. It is the 12th biggest cryptocurrency exchange in the world, processing $140 million in orders daily according to coinmarketcap.com.
In March it received a licence to operate in the UK and opened a bank account at Barclays, which marked the first time that a major British bank has entertained the business of such an entity.
The speculation is based on a number of factors.
Coinbase added ERC20 support in March. In plain English, this means that it can now offer Ethereum-based coins for trading.
We’re excited to announce our intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months.
0x is an ERC20 token. According to Medium, the price of the token shot up by 40 percent within an hour of the Coinbase announcement, even though Coinbase deliberately refrained from naming any specific tokens. The spike can be seen in the graph below:
0x is suspected to be a candidate for listing because three former Coinbase employees are involved with the 0x project. Coinbase has been supportive of ex-employees and their projects in the past. The best example is Charlie Lee and Litecoin, which was listed on the exchange in May 2017.
A Google search reveals that this subject is of some interest to the community:
Cryptocurrency exchanges are very sensitive to pump and dump schemes because cryptocurrency movement is driven by social media to a much larger extent than any other commodity.
For example, in December 2017 GDAX had to suspendBitcoin Cash trading because the price of the coin jumped suspiciously around the time of its listing, leading to allegations of insider trading. It is currently facing a class-action lawsuit over losses related to this.
The big news in the cryptocurrency community now is that 0x could possibly be included on the biggest cryptocurrency exchange in the US. But is there any basis to this?
What is 0x?
0x is an “open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum Blockchain.”
Explanation: a decentralised exchange is a cryptocurrency exchange which is run entirely through smart contracts, making it completely peer-to-peer. The advantage of this is that no third party is involved, which is both cheaper because there are no exchange fees, and safer because the user is always in control of his money.
However, costs are still incurred because transactions are processed on the blockchain. 0x aims to improve on this by focusing on off-chain ordering, greatly limiting the number of commands that are processed on the blockchain. To do this, it utilises 'relayers', which are nodes that broadcast orders. Only final, value transactions affect the main blockchain, a system which "reduces blockchain bloat."
0x was founded in October 2016, and two weeks ago underwent an upgrade. It was recently listed on a small-scale London-based cryptocurrency exchange too. As of now, each ZRX token is worth $1.38, and the network has a market capitalisation of $728.3 million, according to coinmarketcap.com.
There is some speculation that the coin could be listed on a major America cryptocurrency exchange, which is significant because if true it will likely cause this price to rise.
The exchange in question is GDAX, a major cryptocurrency exchange operated by Coinbase of San Francisco. It is the 12th biggest cryptocurrency exchange in the world, processing $140 million in orders daily according to coinmarketcap.com.
In March it received a licence to operate in the UK and opened a bank account at Barclays, which marked the first time that a major British bank has entertained the business of such an entity.
The speculation is based on a number of factors.
Coinbase added ERC20 support in March. In plain English, this means that it can now offer Ethereum-based coins for trading.
We’re excited to announce our intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months.
0x is an ERC20 token. According to Medium, the price of the token shot up by 40 percent within an hour of the Coinbase announcement, even though Coinbase deliberately refrained from naming any specific tokens. The spike can be seen in the graph below:
0x is suspected to be a candidate for listing because three former Coinbase employees are involved with the 0x project. Coinbase has been supportive of ex-employees and their projects in the past. The best example is Charlie Lee and Litecoin, which was listed on the exchange in May 2017.
A Google search reveals that this subject is of some interest to the community:
Cryptocurrency exchanges are very sensitive to pump and dump schemes because cryptocurrency movement is driven by social media to a much larger extent than any other commodity.
For example, in December 2017 GDAX had to suspendBitcoin Cash trading because the price of the coin jumped suspiciously around the time of its listing, leading to allegations of insider trading. It is currently facing a class-action lawsuit over losses related to this.
Kraken Announces Partnership to Enhance Crypto Offerings in German Market
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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