0x’s ZRX Now Live on Coinbase Pro

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Systems A-Go: 0x’s ZRX Now Live on Coinbase Pro

Making good on an announcement made one day prior, Coinbase Pro has listed three new ZRX-based trading pairs today, October 12th. If all goes well, the 0x token should see further rollouts on other Coinbase platforms within the coming months.

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First ERC-20 Token Comes to Coinbase Pro

Coinbase Pro, the successor of Coinbase’s institutionally-minded GDAX trading platform, has formally embraced 0x in launching ZRX/USD, ZRX/EUR, and ZRX/BTC trading pairs for its customers.

0x, ticker symbol ZRX, is an Ethereum-based project focused on providing a critical infrastructure layer for exchange functionalities in the Ethereum ecosystem.

The listing comes after Coinbase’s leadership signaled back in July 2018 they were exploring adding five new cryptocurrencies in different phases to platforms in the exchange’s ecosystem. Accordingly, ZRX is the first of those five assets to be formally listed on any of Coinbase’s platforms, with the other cryptocurrencies still under direct consideration including Basic Attention Token (BAT), Cardano (ADA), Stellar Lumens (XLM), and Zcash (ZEC).

The listing also notably makes ZRX the first Ethereum-based token to be made tradable within any of the arms of the Coinbase ecosystem.

Coinbase Pro first announced that its ZRX launch would be imminently occurring on October 11th, with trading functionalities being fully live almost exactly 24 hours later.

With the ZRX listing, the first wave of the new Coinbase trading pairs are up. Images via Coinbase Pro.

Unsurprisingly, ZRX Sees Acute ‘Coinbase Bump’

The news of the listing has led to acute buy pressure on ZRX throughout the cryptoeconomy, as at press time the token was up more than 15 percent on the day.

ZRX
At one point, ZRX gained 20 cents in value over the past 24 hours. Image via CoinBillboard.

ZRX is still down nearly $2 USD from its all-time high of $2.57 on the year, which puts the project on par with losses seen across the cryptoeconomy in recent months. Though its current acute surge comes as many cryptocurrencies have been sagging this week in parallel with declines in the stock market.

Other Coinbase contenders like ADA, XLM, and ZEC have seen slight declines today, but Basic Attention Token has fared akin to ZRX, as BAT is similarly up 14 percent over the last 24 hours.

That dynamic possibly suggests some crypto traders suspect BAT is up next for Coinbase Pro, which could make sense, seeing as how BAT is an ERC-20 token like ZRX. Thus we can already infer that Coinbase Pro has virtually all of the necessary infrastructure for a BAT listing already in place.

What’s your take? What cryptocurrency will Coinbase Pro launch support for next? Let us know your predictions in the comments section below. 


Images via Coinbase Pro, CoinBillboard, 





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