The recent launch of the Coinbase NFT marketplace has triggered a powerful rally in the 0x protocol’s native token, ZRX. According to market data, ZRX surged nearly 50% within 24 hours following the announcement and limited rollout of Coinbase’s new NFT platform, which leverages 0x technology to power its decentralized trading infrastructure.
During this surge, ZRX recorded over $1.33 billion in trading volume—an increase of more than 3,000% compared to the previous day. This marks the largest single-day trading volume for ZRX since February 2021. At press time, ZRX is trading at $1.03, having briefly touched $1.16, its highest level in nearly five months. The price momentum has pushed the token’s market capitalization close to $1 billion, signaling renewed investor confidence in the protocol’s real-world utility.
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The Role of 0x in Coinbase’s NFT Strategy
The integration of 0x into Coinbase’s NFT ecosystem highlights a growing trend: major crypto platforms are increasingly relying on battle-tested decentralized infrastructure to ensure scalability, security, and interoperability.
0x is an open-source protocol designed to facilitate peer-to-peer exchange of assets on the Ethereum blockchain and other EVM-compatible networks. Its off-chain order relay and on-chain settlement model allow for efficient, low-cost trading of both fungible and non-fungible tokens.
With Coinbase choosing 0x as a foundational layer for its NFT marketplace, it underscores the protocol’s reliability and technical maturity. Instead of building a proprietary trading engine from scratch, Coinbase opted to leverage 0x’s proven API and smart contract framework to enable seamless NFT listings, bids, and swaps across multiple chains.
Will Warren, co-founder and co-CEO of 0x Labs, commented on the collaboration:
“We’re excited that Coinbase is using 0x to power its new NFT social marketplace and expect this launch to bring a significant influx of new users into the blockchain space.”
This strategic adoption not only validates 0x’s technology but also positions it at the center of mainstream NFT innovation.
Why This Rally Matters for Decentralized Protocols
The explosive growth in ZRX’s price and trading volume reflects more than just speculative enthusiasm—it signals a shift in how major platforms approach decentralized infrastructure.
Historically, large exchanges have developed internal solutions for asset trading. However, as the Web3 ecosystem matures, there's a clear move toward modular, composable building blocks. By integrating 0x, Coinbase avoids redundant development costs while benefiting from community-audited code and cross-platform liquidity.
This event demonstrates that decentralized exchange (DEX) protocols like 0x can gain substantial value accrual when adopted by centralized giants—a concept sometimes referred to as “value capture through usage.”
Moreover, high-profile integrations like this often lead to increased developer interest, further expanding the ecosystem around the underlying protocol. As more projects build on or integrate with 0x, demand for ZRX could continue to grow—especially if future upgrades introduce new governance or fee-sharing mechanisms.
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Core Keywords and Market Implications
Key terms driving interest in this development include:
- ZRX token
- 0x protocol
- Coinbase NFT
- NFT marketplace
- decentralized exchange
- blockchain infrastructure
- Ethereum-based NFTs
- Web3 adoption
These keywords reflect both technical and market-driven search intent. Users are not only tracking price movements but also seeking to understand why ZRX reacted so strongly and whether this momentum is sustainable.
For investors and developers alike, the Coinbase-0x partnership serves as a case study in how real-world utility can drive token valuation beyond pure speculation.
Frequently Asked Questions (FAQ)
Why did ZRX go up after Coinbase launched its NFT marketplace?
ZRX rose because Coinbase chose the 0x protocol to power key functions of its NFT marketplace. This adoption validates 0x as a trusted and scalable solution, increasing confidence in its long-term utility and potential for broader use.
What is the 0x protocol used for?
The 0x protocol enables decentralized trading of digital assets, including NFTs and ERC-20 tokens. It allows developers and platforms to integrate secure, low-cost trading features without building their own exchange infrastructure from scratch.
Is ZRX a good investment now?
While past performance doesn’t guarantee future results, the recent surge reflects strong fundamentals driven by real adoption. Investors should evaluate ZRX based on ongoing protocol usage, development activity, and broader NFT market trends rather than short-term price action alone.
How does 0x support multi-chain NFT trading?
0x operates across multiple EVM-compatible blockchains (like Ethereum, Polygon, BNB Chain). This cross-chain compatibility allows platforms like Coinbase to offer users flexible options for buying and selling NFTs without being locked into a single network.
Does Coinbase own or control ZRX?
No. Coinbase is using the open-source 0x protocol but does not own or control the ZRX token or the decentralized 0x network. The protocol remains community-governed, ensuring neutrality and decentralization.
Could this trigger more NFT platforms to adopt 0x?
Yes. The visibility from a major player like Coinbase using 0x may encourage other marketplaces to adopt the same infrastructure, especially those looking to reduce development time and improve liquidity through shared order books.
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Looking Ahead: The Future of Protocol Adoption
The success of 0x in powering one of the most anticipated NFT launches of the year highlights a broader trend: infrastructure-layer protocols are becoming invisible engines behind user-facing applications.
As Web3 continues to evolve, we’re likely to see more partnerships where large platforms integrate decentralized tools rather than reinvent them. This composable approach accelerates innovation while distributing value back to foundational protocols—potentially creating sustainable economic models for open-source projects.
For ZRX holders and blockchain enthusiasts, this moment represents both validation and opportunity. With increased usage comes greater scrutiny, but also the chance for deeper integration into mainstream digital economies.
Whether you're tracking price trends, exploring DeFi primitives, or evaluating long-term investments in Web3 infrastructure, the Coinbase-NFT-and-0x story offers valuable insights into how real-world adoption translates into market impact.
As the lines between centralized platforms and decentralized protocols blur, assets like ZRX may increasingly reflect not just speculation—but tangible utility in action.