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0x Protocol's Token Surges Over 47% After Coinbase NFT partnership
A partnership between Coinbase NFT and 0x protocol has sent the ZRX token soaring, with a 47% rally over the past 24-hours.
Updated May 11, 2023, 4:28 p.m. Published Apr 21, 2022, 8:55 a.m.
, the native token behind the 0x protocol, has rallied by more than 47% following an announcement that it will power Coinbase's (COIN) non-fungible token (NFT) marketplace.
- ZRX is now nearing market cap of $1 billion as it trades at a five-month high of $1.09.
- Trade volume over the past 24-hours has also seen a significant uptick, rising by more than 3,000% to $1.25 billion, its largest volume spike since February 2021.
- Coinbase said that its NFT platform will utilize 0x protocol's "powerful multi-chain NFT swap support", as well as the up to 54% more gas efficiency. The protocol will also enable Coinbase NFT to reward creators with instant royalties as well as free, non-custodial listings.
- "We're thrilled that Coinbase is using 0x to power their new social marketplace for NFTs and anticipate this launch will unlock a massive wave of new users into the blockchain space," said Will Warren, co-founder and co-CEO of 0x Labs.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
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- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
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