ZRX Becomes First ERC-20 Token to be Listed by Coinbase

Coinbase has recently made an announcement on its official blog informing its customers the 0x (ZRX) token has been listed; a development that sees an ERC-20 token listed for the first time since Coinbase exchange began operations.
ZRX comes on the back of many other tokens that have been built on the Ethereum blockchain and becomes the first to be listed by the leading cryptocurrency exchange in the United States. ERC-20 has its name generated from the common term: ‘Ethereum Request for Comment’ while the number, 20, serves as an index accordingly attributed to the request. By building on Ethereum’s blockchain, the creation of new tokens becomes quite less difficult and fast; the more reason ETH has become the first choice for crowdfunding companies and start-ups working on ICOs.
Coinbase’s announcement noted that the platform would not be available for ZRX trading yet, despite its listing, as trading would only be allowed to commence if “liquidity is established.” Following the announcement of its support, the company is ready to give necessary updates concerning the availability of the token on its website and app.
As Coinbase would have us understand, there would be three trading pairs — ZRX/BTC, ZRX/USD, and ZRX/EUR– that would be initially available for its launch, while other important pairs such as ZRX/GBP, are expected to be added tentatively as ZRX’s base grows. Thrusting each trading pair under four independent stages immediately after its launch, Coinbase outlined the four divisions the launch was divided into the transfer-only stage, post-only, limit-only, and finally the ‘full-trading’ stage in their respective order.
Before its announced listing of ZRX, the San Francisco-based exchange had earlier shared its plans to review its earlier resolution and to begin accepting ERC-20 tokens. Part of its statement read:
“After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add any ERC-20 asset added to GDAX to the Coinbase platform,” the platform asserted.
News of Coinbase listing seems to have had a positive effect on the cryptocurrency with its price climbing up 5.42 percent, after Coinbase’s announcement to rest at about $0.86 at press time.