The 0x token confidently surged to a five-month high over the past 24-hours on an announcement that it will power the Coinbase NFT platform. OKnightCrypto reports
ZRX is now nearing market cap of $1 billion as it trades at a five-month high of $1.09.
Trade volume over the past 24-hours has also seen a significant uptick, rising by more than 3,000% to $1.25 billion, its largest volume spike since February 2021. Coinbase said that its NFT platform will utilize 0x protocol's"powerful multi-chain NFT swap support", as well as the up to 54% more gas efficiency. The protocol will also enable Coinbase NFT to reward creators with instant royalties as well as free, non-custodial listings.
"We're thrilled that Coinbase is using 0x to power their new social marketplace for NFTs and anticipate this launch will unlock a massive wave of new users into the blockchain space," said Will Warren, co-founder and co-CEO of 0x Labs.
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