The crypto world has been swirling with rumors of a possible new Coinbase listing. The most common opinion is that 0x will earn the highly coveted spot, which provides access to more than 20 million investors.
To begin, 0x is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. Most of its utility is in powering decentralized exchanges.
The 0x project has three team members who are former employees of Coinbase. Fred Ersham (co-founder of Coinbase), Linda Xie (former product manager at Coinbase), and Olaf Carlson-Wee (the first ever employee at Coinbase) are all members of the 0x team and could be instrumental in persuading the exchange to add ZRX.
Additionally, Coinbase acquired the trading platform Paradex last month. The acquisition was a strategic move that will enhance their custody platform Coinbase Pro as well as allow Coinbase to expand into international markets. Paradex is run on top of the 0x protocol, which is another positive indication that Coinbase is very comfortable with 0x.
If Coinbase succeeds and makes formal regulatory modifications to its operations, the next step would be to offer the same services on Paradex to US cryptocurrency investors. The 0x protocol is compatible with other cryptocurrencies, and it’s possible Coinbase would be willing to use their protocol to provide additional assets through decentralized trading.
It should also be noted that 0x meets all the requirements set up by Coinbase’s GDAX Digital Asset Framework. In early March, Coinbase emphasized that they would only list an asset which is in full compliance with their Digital Asset Framework. The ZRX token meets requirements on decentralization, economic freedom, and legal compliance. Coinbase has previously expressed a desire to add more tokens besides Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Just this week, Coinbase formally announced their interest in adding ZRX to their platform. Thus, listing the token on Coinbase and Coinbase Pro is a possibility by the end of 2018.
There are so many projects that are building on 0x or have indicated that they would be doing so in the near future like Augur, Aragon, Blocknet, dEX, Maker, and Request Network. Other projects on the platform include the recently acquired relayer Paradex.io. Hopefully, Coinbase will join these projects and bring this revolutionary technology to the masses. A listing on Coinbase will, without a doubt, be a massive price boost as can be inferred from past listings. For example, Bitcoin Cash saw a 300% gain within 24 hours of being listed on Coinbase. Litecoin dwarfed Bitcoin Cash by posting a 1600% rise in price after 6 months of being on Coinbase.
What happens next with 0x (ZRX) prices is anybody’s guess, but the current picture is that this is a project on the move. It’s one to watch in 2018.