Jared Leto-Backed Token Spikes Even As Bitcoin, Ethereum, Dogecoin Tumble

0x (ZRX), the token of an infrastructure protocol that allows for easy trade of assets on the Ethereum ETH/USD blockchain, is defying the downturn in major cryptocurrencies.
ZRX has spiked 8.55% to $0.84 even as Bitcoin BTC/USD, Ethereum, and Dogecoin DOGE/USD traded in the red over 24 hours leading up to early Wednesday morning.

Tron (TRX) Price Performance
Time-frame % Change (+/-)
24-hour 8.55%
24-hour against Bitcoin BTC/USD 14.7%
24-hour against Ethereum ETH/USD 14.8%
7-day 15.8%
30-day 13.9%

YTD-performance

-3.45%

Trading Volume Explodes

The 24-hour trading volume for ZRX spiked nearly 432% to $608.865 million at press time.

0x Raises $70M In Series B Funding Round

0x Labs said in a blog post on Tuesday that it had raised $70 million in a Series B funding round led by Greylock. Other participants included Pantera, Sound Ventures, OpenSea, Coinbase Holdings Inc COIN and Jared Leto. 

The funding will be deployed to fuel the expansion of 0x Labs team and its product and service offerings including a search engine for tokens known as Matcha.

0x On The Web

Web3 development platform Alchemy tweeted on Tuesday that 0x uses its technology to maintain reliable Remote Procedure Call (RPC) connections and to check system health and usage insights.

The presence of Leto did not go unnoticed on Twitter.

Read Next: If You Invested $100 In Dogecoin When Elon Musk Made His Twitter Offer, Here's How Much You'd Have Already

Photo courtesy: James Ackerley on Wikimedia

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsMoversTrading Ideas0xEthereumJared Letowhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...