Analysts have singled out a token whose value has grown by 100% in just a month

During a favorable phase for most cryptocurrencies, 0x Protocol (ZRX) managed to grow significantly while remaining invisible in the market. Amid the bullish trend, its market capitalization and value have grown significantly.

According to CoingGecko, ZRX’s price rose by 108% in a month, 58% in 14 days, 81% in a week, and showed a significant drop of 16.6% over the past day. The surge in the value of 0x Protocol coincided with a significant increase in large-scale transactions with the token, reaching a peak that has not been seen in 1.5 years.

In addition, old coins that had been dormant returned to circulation. This activity was highlighted by Santiment, a blockchain and cryptocurrency behavioral analysis platform, in a November 12 publication.

The analysts noted: «On April 22, 2022, 23 transactions worth more than $ 100,000 were made in one day. It is noteworthy that the average age of 0x investments is declining, indicating that old wallets are moving and more coins are coming into circulation. This trend seems likely to continue in the near future, which will further increase the liquidity of this crypto asset and attract more new investors.

As a reminder, yesterday, November 13, ZRX was included in the list of cryptocurrencies that showed the largest daily growth. The token managed to rise by 36.2% during the reporting period and entered the top 100 ranking, taking the 99th place, trading at $ 0.526. At the time of writing, ZRX is trading at $ 0.489.