Back in August 2017 and the day its ICO ended, Coinbase’s CEO Brian Armstrong sent out a tweet claiming that, “0x is pretty interesting”. He probably knew that already, as three of the four advisors for 0x, left Coinbase to work on the project. This was the first of many hints towards a possible Coinbase listing.
With over 20 million users worldwide, Coinbase has been the most popular way for retail investors to quickly buy and sell cryptocurrencies. Today that user base has only had a handful of tokens available to trade (BTC, BCH, ETH, LTC and ETC). New listings have seen prices pump between 10-30%
The project has come a long way since its ICO that raised $24 million in ETH. The stated aim of the 0x project is to, “Create a tokenized world where all value can flow freely”.
This certainly fits the brief of creating a decentralised exchange, but it’s the work and adoption of other projects building on top of the 0x protocol that’s been a differentiator.
An example of this is the margin trading project dYdX who can “work with any standard Ethereum-based decentralised exchange”, but instead chose to build their product on “the 0x protocol”
In July 2018 Coinbase released a statement that they were “exploring the addition of several new assets”. This list included 0x.
What’s the latest rumour
This week someone found and sent screenshots across twitter and reddit from a new account report that has been created relating to the 0x token ZRX. The exact sequence is below in case you want to try it out in your browser:
Coinbase -> Tools -> Tax Centre -> Gain/Loss Calculator -> Generate Report -> Download Report – ZRX Wallet shows up at the very top.
The flurry from this news soon sent the ZRX token spiking in price over 15% but it has since retraced some of those gains.
With a current market cap of $380 million, and a buying volume of around $28 million enough to yesterday spike the price yesterday. I wonder what would happen if all 20 million Coinbase users decide to buy $10 worth on the day it lists.