0x Labs Token ZRX Rallies 12% Following Alliance with Polygon and Robinhood Wallet
The move by OX Labs to work with Robinhood Wallet in the new project. The alliance features Polygon in building a network whose revelation is propelling the rally that saw ZRX surge 12%. The project seeks to build a compatible network that utilises a single digital wallet across various blockchains.
OX Labs Developing Tx Relay API
Ox Labs revealed it was developing the Tx Relay API within the beta mode. Its completion would allow users a simplified trading process. The relay network would eliminate users needing to load wallets when in use in multiple blockchains.
Ox Labs indicated that the relay network would offer in-depth liquidity to the market makers and an additional exchange estimated at 70. Robinhood Wallet is the pioneer platform utilising the application programming interface (API).
High Activity of Robinhood Markets in Crypto Space
Ox Labs lauded Robinhood Markets (HOOD) for its active input within the crypto space. In particular, the statement revealed that the HOOD listing expanded. In particular, its trading application recorded additional listings besides the inclusion of Web3 wallet in the third quarter.
The appetite for superior projects traces Ox Labs’ enormous resources. The firm’s initial coin offering generated $24 million in 2017. A subsequent funding round in April 2022 yielded $70 million. The funding round attracted investment from the Open Sea. In addition to the non-fungible marketplace, the round featured Jump crypto – an affiliate of Jump Trading Group.
ZRX Market Outlook
At press time, ZRX price is hovering around $0.29, marking a 12% increase in the past 24 hours, illustrated in CoinGecko data. The current price shows recovery as ZRX had tested a high of $0.3199 before retreating to $0.2578. The daily trading volume is up by 1320%, averaging $239 million, while its market capitalisation rose to $245.2 million.
While ZRX was 140% from its all-time low of $0.12 realised on March 13 2020, it is 88% away from regaining January 13 2018, a high of $2.50 as per CoinGecko data.
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