Coinbase Per quoted 0x (ZRX)-Token, the rate of increase of 14% & suspicion of insider trading

0
17

Coinbase, one of the world’s most popular crypto currency exchanges, deposits for ZRX-tokens accepted since yesterday on Coinbase Pro. The ZRX-Token is the first Ethereum-based ERC20-Token, which is listed on the platform. This was announced by the stock exchange on Thursday in a blog post. For Coinbase.com an announcement is expected in the next few days.

In the Blog post hot that the trade is gradually released. Finally, Coinbase Pro trading ZRX against the USD, EUR and Bitcoin offer:

We accept deposits for a minimum of 12 hours before we make the trade. As soon as sufficient liquidity is available, the trading with the order books ZRX/USD, ZRX/EUR and ZRX/BTC. The ZRX-trade will be for users in most countries, but not initially for residents of the state of New York will be available.

As with previous Roll-Outs, there will be four stages: Transfer-only, Post-only, Limit-only, and Full Trading.

Transfer-only: Since Thursday, the 11. October, at 10 a.m. PT, customers can transfer ZRX to your Coinbase Pro account. The customer may not place orders, or no orders from these order books. The order books to be kept for a minimum of 12 hours in pure Transfer mode.
Post-only: In the second stage, can the customer Limit order book, but there will be no Matches (completed orders). The order books are kept for at least one Minute in the Post-Only mode. This market condition can be kept short or extended to increase the health Market while the market introduction.
Limit-only: In the third stage, start the Limit Orders with the balance, but the customer can not market order. The order books are kept for at least 10 minutes in the Limit-Only mode.
Full Trading: In the final phase to be complete trade services offered, including Limit, market and Stop Orders.

It is important to know that Coinbase Pro “can at any time to suspend one of the new trading pairs, if the order talking books for a healthy and orderly market”.

When ZRX is also on coinbase.com available is still to be determined. However, it is assumed that the stock exchange of an imminent announcement, ZRX is also on Coinbase available. In March, the company had a press release published, that it be a offer for Ethereum – based (ERC20) Token to expand.

Coinbase loses 80% of its active customers

As Bloomberg yesterday reports that has lost Coinbase since the all time high of Bitcoin at US $ 20,000 in December 2017, around 80 percent of its active monthly users. Coinbase wanted to make no comment.

Coinbase’s active customers dropped 80% since Bitcoin’s peak https://t.co/EHdfv7vjGj pic.twitter.com/dlwGb6pN7z

— Bloomberg Crypto (@crypto) October 11, 2018

In this negative Trend for Coinbase, Coinbase its index Fund for wealthy investors closed . An Insider is said to have reported that the Fund has not aroused enough interest and less revenue, as the company had expected.

Insider trading before 0x introduction?

Already the introduction of Bitcoin to Cash (BCH) in the case of Coinbase was very messy. Prior to the announcement of the listing of Bitcoin to Cash at Coinbase, there was an extreme and sudden rise in price. Employees of the stock exchange were, in the suspicion of insider trading. An investigation by Coinbase itself, however, had found no evidence of this.

As a Twitter User reported now, there was a Buy Order for 87 BTC for ZRX on Binance, again before the announcement of Coinbase.

Tweeter spotted at 87 btc buy order on ZRX… 2 days before Coinleak announced its launch. pic.twitter.com/nDHeGVxFIM

— Silver Watchdog (@Silver_Watchdog) October 12, 2018

The rate of 0x (ZRX) is at least at the time of writing, already to 14%. Currently a ZRX is traded tokens for € 0.65.

LEAVE A REPLY

Please enter your comment!
Please enter your name here