Breaking: Coinbase Buys Paradex Trading Platform The Uses 0x Protocol
30min ago news came over the wire that Coinbase had acquired Paradex, a decentralized exchange which is built on the 0x protocol. This sent the 0x token, $ZRX, through the roof on a day that bitcoin has been down about 8%.
From CNBC:
Coinbase plans to make some enhancements to the technology and launch Paradex's services to customers outside of the United States, enabling them to trade "hundreds of tokens," it said.
Also announced on Paradex's site: https://paradex.io
I was going to post on this also @rt395 but you beat me to it.
The biggest question I have is why the 0x token went up so high, when the Paradex exchange WILL NOT BE USING the 0x token for trading fees. They will only be using the 0x protocol BUT again, not the token.
I guess just being connected to anything that sounds awesome can swing crypto prices instantly!
Using the protocol on a very publicized platform I would think would drive additional projects to use it. Perhaps it becomes "the" protocol for DEX's. Similar to ETH for smart contracts.
Sorry I beat ya to it. You can still post it. You'll probably get more attention than me.
I agree that publicity is good, just seems strange for such a price boost when there really isn't much news for 0x, and not that I am complaining either.
As for the story, I think I will write up on this but with a slightly different angle. Stay Tuned @rt395
This is crypto. Things are still crazy.
Looking forward to it and will re-steemit.
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ZRXUSD currently trading at 1.3371 on bitfinex. up 16% for the day
Ya, down from earlier and down form earlier this month, but this good news and may continue to help keep the price up.
8% if by @rt395 whether it is a number that will last long or there is a possibility of rising as before or exceeding before going down to the number 8%
It will last. There is a lot of hype behind 0x and this reaffirms that hype. Also, keep in mind BTC is down. If BTC starts going back up, so does 0x in $.
Yes @rt395