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0x [ZRX]

0x [ZRX]’s price ascends by 7.2% while other cryptocurrencies struggle to stay afloat in the massacre

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0x is ranked 26 largest cryptocurrencies by volume and has been gaining a lot of traction due to the active and responsive team behind the project.

At the time of writing 0x was soaring by 7.2% with a total market cap of $324.1 million, while cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], XRP are struggling to climb out of the enchanted bear-urn. The cryptocurrency is currentlytrading at $0.5932 with trading volume at $15.29 million.

Source: CoinMarketCap

0x is steadily gaining momentum as it keeps hitting higher highs. The price peaked at two points [$0.5975 and $0.5980] on November 16.

0x is an open protocol that provides a peer-to-peer exchange of digital assets on the Ethereum blockchain. In a recent blog post published by 0x team updates the development happening in the project. The Counterfactual project received an update, as the 0x teams [L4] have collaborated with teams from Prototypal, Celer, and Magmo.

Counterfactual is an open-source project that moves blockchain applications off-chain using “State Channels”. They aim to increase performance and scalability by moving it off-chain. The team wants to set a standard in the community for the foreseeable future for all Dapp developers to use the existing framework provided by Counterfactual to quickly build scalable apps on Ethereum.

Source.ambcrypto

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MINDEX, GMEX Group and HYBSE join forces to launch the first blockchain securities exchange in Mauritius

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We are pleased to announce the launch of the HYBSE International Marketplace; a joint venture between MINDEX Holdings Limited (MINDEX), GMEX Group Limited (GMEX) and Hybrid Stock Exchange Corporation Limited (HYBSE); that will bring to market a revolutionary blockchain exchange platform, based in Mauritius.

MINDEX; a complete exchange, post-trade, and physical infrastructure, facilitating a variety of asset classes to be traded in Mauritius, supported by GMEX; a world leader in digital business and technology solutions for exchange and post-trade operators, will partner with HYBSE; a global online marketplace based on blockchain technology that is part of the DIM-Ecosystem.

The HYBSE International Marketplace will integrate blockchain solutions and technology with traditional financial industries providing a complete and governed ecosystem that digitalizes assets onto the blockchain. This partnership will for the first time, enable institutional investors to access to cryptocurrency ETF’s and other crypto-instruments.

The following asset classes will be facilitated for trade in a digital tokenized format:

  • Cryptonized Shares
  • Cryptonized Currencies
  • Commodities
  • Indices
  • Forex
  • ETC’s (Exchange-Traded Commodities)
  • ETF’s (Exchange-Traded Funds)
  • CETF’s (Crypto Exchange Traded Funds)

SMEs will be able to use the HYBSE International Marketplace to seek capital by launching an Initial Blockshare Offering (IBO); a time-limited offer to purchase cryptonized-equities and other cryptonized-instruments, such as blockshares, from businesses registered on the HYBSE International Marketplace at special discounted rates. This will provide opportunities for the unbanked (more than 1.7 billion worldwide) to participate in the listing and trading of stocks.

The parties have chosen to set up the HYBSE International Marketplace in Mauritius further to the recent announcement that the Financial Services Commission (FSC), the local regulator, will create new licensable activities for the Custodian of Digital Assets and Digital Asset Marketplace and provide a regulated environment for the exchange and safe custody of digital assets. The regulator in Mauritius has also issued guidelines on investment in cryptocurrency as a digital asset.

Hirander Misra, Chairman of MINDEX and CEO of GMEX Group commented:“I am delighted to announce this exciting joint venture, where HYBSE will bring its vast domain knowledge, securities to be tokenised and its blockchain-based digital exchange technology and MINDEX, supported by GMEX, will provide scalable institutional grade digital trading platforms and business and operational expertise to set up the new marketplace.”

He added,“We welcome the new regulatory framework for digital assets in Mauritius and we are thrilled to be at the forefront of market development as one of the first ventures to set up under the new regime. We are firmly convinced that there is a massive opportunity for Mauritius to position itself as a major global hub in this dynamic space underpinned by strong governance and regulation to ensure trust.”

Daniel Liu of Hybrid Stock Exchange Corporation Limited (HYBSE) commented“The new venture between the three companies will bring about an exciting new development, not only for the crypto sphere, but global capital markets as a whole. As we embark on a journey to pave a previous uncharted way forward, this will inevitably create an ideal prospect to move the evolution of all financial systems, light-years ahead. We must also maintain a conscious belief of the power of this evolutionary step, as not to disrupt current global markets, but to rather bolster a new way of thinking that encompasses a decentralised and truly free market entity.”

HYBSE International Marketplace will apply for a Digital Marketplace license and operations are due to commence in Q1 2019 subject to regulatory approval.

For MINDEX:

For GMEX Group:

For HYBSE:

About MINDEX

MINDEX Holdings Limited – The holding company for the MINDEX ecosystem

MINDEX Clearing Limited – Will operate as the central counterparty (CCP) clearinghouse regulated by the Mauritius Financial Services Commission (FSC) to clear all trades executed on MINDEX Limited.

MINDEX Limited – Will operate a multi-asset Derivatives Exchange regulated by the Mauritius Financial Services Commission (FSC).

MINDEX Spot Limited – The marketplace for the electronic trading of standardized physical and digital spot commodity contracts for gold, precious metals, and other commodities.

MINDEX Vault Limited – The proposed secured storage depository solution for gold and other precious metals.

MINDEX Refinery Limited – The proposed world-class smelting, refining and recovery of gold and other precious metals to the highest standards.

For more information, visit their official website

Follow on Twitter @MindexHoldings

About GMEX Group

GMEX Group (GMEX) comprises a set of companies that offer leading-edge innovative solutions for a new era of global financial markets, providing business expertise, the latest technology, connectivity, and operational excellence delivered through an aligned partnership-driven approach. GMEX uses extensive market infrastructure experience and expertise to create an appropriate strategic master plan with exchanges, clearing houses, depositories, registries, and warehouse receipt platforms. GMEX also offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity.  GMEX Technologies is a wholly owned subsidiary of GMEX Group.

For more information, visit their official website

Follow on Twitter @GMEX_Group

About HYBSE

The Hybrid Stock Exchange (HYBSE) is an online blockchain based exchange platform. It permits the buying and selling of cryptonized-equity in the new era of cryptocurrencies. The use of blockchain technology allows participants to cut out many of the intermediaries that are associated with traditional exchanges. While traditional exchanges serve participants from specific geographical locations, the HYBSE is open to all participants globally.

For more information, visit their official website

Follow on Twitter

About the DIM Foundation

The DIM Foundation is a non-profit organization that is responsible for the marketing, public relations, customer care and oversight of the DIM brands (DIMCOIN, DIM Currencies, DIM Cryptocurrencies, and future DIM denominated coins). DIM X is a cryptocurrency converting platform. The DIM Foundation is registered in Singapore.

The DIM-Ecosystem is a blockchain-based financial ecosystem. It includes DIM Currencies, an offering of various stable digital currencies, backed by precious metals. DIM Currencies are a medium for day-to-day commerce and merchant payment solutions. The currency stability will be further enhanced by the swift and efficient purchase of precious metals through MINDEX Spot Limited (Gold Spot Exchange), and storage of the wealth in secured MINDEX Vaults.
The regional DIM Foundation will be responsible for:

  • Collecting donations for the DIM Ecosystem
  • Creating events for the DIM Ecosystem and attending blockchain events
  • Launch marketing campaigns for the DIM Foundation
  • Attract businesses into the DIM Ecosystem
  • Becoming a central meeting point for ambassadors and promoters.

For more information, visit their official website

Source:ambcrypto

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0x [ZRX]

Crypto Market Remains Above $250 Billion as 0x, Status, and Tokens Surge

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The valuation of the crypto market has remained above the $250 billion mark, closing July 1 at $255 billion. Tokens have performed particularly well, recording gains in the 10 percent region.

0x, Status, Funfair, and Aion

The top performers of July 2 were ERC20-based tokens 0x (ZRX), Status (SNT), Funfair (FUN), and Aion (AION). ZRX demonstrated the largest gain amongst major digital assets and tokens, seeing a 14 percent increase in its value against the US dollar and bitcoin.

Throughout last week, amidst a drop from $6,500 to $5,800, the price of 0x fell below the 0.00010 BTC mark, reaching a montly low. In the past 24 hours, the price of 0x has rebounded to 0.000137 BTC, with strong momentum.

ZRX 1-hour chart from TradingView

Various momentum indicators and momentum oscillators show that the recent run of 0x is supported by high volume and a rapid rise in demand in the short-term. Both exponential and simple moving averages and MACD are portraying a positive short-term trend for 0x. Given that the Relative Strength Index (RSI) of 0x is at 54.77, the token is still not demonstrating an overbought condition and has the potential to continue its move to the upside.

In a sideways market, during a period in which bitcoin, Ether, Bitcoin Cash, and other digital assets struggle to record any major movement on the upside, tokens tend to perform well. The abrupt rise in the volume and momentum of tokens also show that investors have become more comfortable with the market now that it has become slightly more stable than where it was last week.

The volume of bitcoin has recovered to $4.6 billion and the volume of Ether has risen to $1.5 billion, from $3 billion and $1 billion respectively. The recovery of the daily trading volumes of major cryptocurrencies signify an increase in stability in the crypto market.

Still, the high daily trading volume of Tether (USDT) is a worrying indicator, as the volume of USDT is currently twice as large as the volume of Ether, the second most valuable cryptocurrency in the market.

If the volume of bitcoin and Ether decrease in the next few hours, the high volume of Tether would signify that investors are once again hedging the value of major digital assets to the value of the US dollar, which may trigger the market to enter yet another short-term downtrend. Hence, the next 24 hours will likely dictate the short-term price trend of bitcoin throughout the week.

Funfair, Status, and Aion did record a 10 percent gain over the past 24 hours, mostly due to the volume coming from Binance, the world’s most widely utilized cryptocurrency exchange. But, with a volume of less than $5 million, it is unlikely that the short-term movement of Aion and FunFair can be sustained, dissimilar to 0x and Status whose volume have supported their corrective rallies.

0x Coinbase Rumor

Several analysts have suggested that the corrective rally of ZRX on July 2 was initiated by the re-emergence of rumors about ZRX integration on Coinbase.

Last month, Coinbase clarified with its acquisition of Paradex that it will indirectly implement tokens through a decentralized digital asset relay, and if the ZRX run was solely triggered by Coinbase listing rumors, it is unlikely to continue throughout the next few days despite its optimistic momentum indicators.

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0x [ZRX]

Why Ripple (XRP) and 0x (ZRX) May Never Get Coinbase Integration…

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Coinbase is the pinnacle of cryptocurrency exchanges and getting listed on it provides benefits every other coin would wish to have. Other than being seen as an endorsement of the project, it offers a pathway to growth via exposure to new investors, especially in emerging markets like the US. Will Ripple (XRP) and 0x (ZRX) get on Coinbase?

Ripple (XRP)

Ripple is the third-largest cryptocurrency by market capitalization, and thus meets part of the original criteria for listing.

When Coinbase revealed that they’d be adding Ethereum Classic (ETC), many questioned why the site hadn’t chosen to add support for XRP.

As it stands, XRP may not get on Coinbase any time soon. First, it’s due to early revelations of attempted bribery. Secondly, according to Coinbase, it doesn’t meet all the requirements, least of all the issues of legal ramifications and pending cases.

Something else, the crypto continues to be categorized as centralized with over 80% of the coins held by the parent company.

In early June, Coinbase revealed that what should have been a moment of great news for all crypto, XRP included. They had said that they were “excited to announce that {we’re on} track to become a US-regulated blockchain securities trading venue. We believe this is an important moment not only for Coinbase but the entire crypto ecosystem.”

But as it turns out, that won’t be the case for Ripple. All along, the San Francisco based company behind the crypto has maintained that the coin isn’t a security. So, the US-based site won’t add it on one principle: the crypto maintains it’s not a security and it can’t suddenly turn and say it is.

As with regard to whether it’s a security or not, head of marketing Cory Johnson had earlier maintained that:

“Coinbase never ever raised the issue of whether or not XRP is a security in our discussions about listing XRP. We’re 100 percent clear, it’s not a security. We don’t meet the standards.”

Pending cases

There are those allegations that have come to the fore again regarding XRP. Two class action lawsuits allege that the company sells and aggressively promote the coin. As such, investors buy in the hope that they are going to make profits. The cases are in court and even though Ripple may succeed in clarifying how it’s not a security, I don’t see the exchange jumping onto the decision and simply list the coin.

0x (ZRX)

0x is an open-source and permissionless protocol that allows users to utilize its ZRX token to trade any other ERC20 token on the Ethereum network. Many see it as a revolutionary platform that will change how tokens are traded.

That hype means that there has been strong speculation that Coinbase may add 0x since it acquired Paradex earlier in the year.

The platform has a lot of advantages going for it, which could easily qualify it for listing on the crypto exchange. 0x does meet all the requirements as set up by Coinbase for its GDAX listing via the Digital Asset Framework.

In early March, the exchange stated that they were only going to list assets that meet the conditions. The ZRX token fulfills requirements regarding decentralization, economic freedom, and legal compliance

And so, while that could still be enough to make it happen, there is a growing feeling that it’s very much unlikely. 0x allows investors to trade virtual coins and tokens directly with each other. As such, 0x could be seen as a platform that provides direct competition to GDAX. One other thing is the cryptocurrency’s objective of making centralized exchanges obsolete. It may be a counter-point to the coin’s efforts to get on one of the world’s premier traditional exchanges. But there’s more that alludes to the end of hopes for ZRX getting onto Coinbase.

Recent developments

And it all has to do with recent developments. Coinbase is in the process of getting the regulatory go-ahead to start adding blockchain/crypto security assets.

“If approved, Coinbase will be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)”

This development may mean it no longer needs to use the services provided by 0x (ZRX). Even though the token qualifies to be added, it may not serve any value to the site. It thus means its more lucrative for it to look at other coins with attractive propositions and which meet all the requirements.

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