- Ox’s native token ZRX has gained over 60% within a dull marketplace.
- ZRX’s upward movements emerged after Coinbase revealed using the Ox platform in creating its social non-fungible token network.
- Nested, a leading social trading platform also builds Ox’s high-end infrastructure.
- Providing around 54% gas competence on Ethereum, Ox Labs declared ongoing work to integrate more Ox-compatible chains.
Ox is an infrastructure network that allows market players to trade ERC20 coins and several ETH blockchain products without depending on centralized protocols like traditional cryptocurrency exchanges. Ox uses publicly auditable, open-source ‘smart’ contracts known to ensure low friction. That makes Ox operate as a DEX. So, why is Ox attracting investor attention?
Price Updates
Ox Protocol attracted investor attention as its governance token, ZRX, surged more than 60% on 21 April. That market the token’s best 24hr uptick since February 2021. The remarkable upswings emerged as the entire altcoin market displayed upside actions.
The upward actions pushed ZRX higher, exploring new 5-month peaks at $1.18. Such developments had the alt’s market cap exceeding $800 billion, entering the top-100 crypto-list. However, retracements followed the impressive leg-up, down nearly 10% within the past day. While writing this content, ZRX traded at $0.900657, ranking 97th with its $761 million market capitalization.
Latest Developments
The latest 50% upsurge by ZRX came after the partnership between Ox Protocol and Coinbase NFT. Ox declared that Coinbase would utilize its infrastructure to run its NFT marketplace. Also, Coinbase stated that its new NFTs platform would use Ox’s multi-chain swap support. Furthermore, the Coinbase NFT network will take advantage of Ox’s gas efficiency – up to 54%.
Also, Coinbase NFT can use the Ox protocol to reward developers with royalties and non-custodial. Free listings. Ox Labs’ co-founder Will Warren stated that the new partnership would attract individuals to the blockchain industry. Also, Nested selected Ox Protocol to run its non-fungible token (NFT). Nested is a state-of-art social trading network.
Why Consider Ox?
Ox offers competitive prices, speedy response, and low revert rates. Its state-of-art services began to attract developers with the NFT and DeFi. Its partnership with Coinbase might also drive ZRX price higher.
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