Flipside Daily Mover: ZRX
A coin per day, making big moves
ZRX Fundamentals Boosted by Nasdaq and Binance.US
September 25, 2019
ZRX User Activity is up 3.66% over the last 10 days, driving FCAS up 17-points (1.96%). Developer Behavior fell 2-points (-0.22%) while Market Maturity jumped 38-points (9.27%). Price is up 16.70% over the same time period.
DeFi Gets DEFX
0x fundamentals have been on the rise over the last two weeks following a pair of developments that have impacted its liquidity and network activity metrics. On September 10th, Nasdaq added a new DeFi-focused index called Defix ($DEFX) launched by London-based brokerage, Exante. Other assets in the fund include MakerDAO, Numerai, and Augur.
Most recently, on September 23rd, Binance.US announced that it will begin accepting deposits for 5 assets including 0x, Cardano, Stellar, Ethereum Classic, and BAT. These are in addition to the initial 7 cryptocurrencies it supported at launch (Ethereum, XRP, Litecoin, BNB, Bitcoin, Bitcoin Cash, and Tether). This also serves a major boon for ZRX-related trading activity.
🌶️ Hot Take
Exciting to see 0x and its DeFi associates making continued progress into more traditional market venues. While the index itself is obviously not leveraging any of the technology inherent to the movement, it does underscore DeFi’s growing relevance as both an emerging technology and viable speculative sector of the crypto industry.
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