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<p>ZRX, the governance token of the 0x decentralized exchange protocol, has seen major growth recently. The token price has pumped over 20% today and an impressive 70% in the last week alone. What’s driving this renewed interest in 0x? A closer look reveals large ZRX whales are accumulating tokens, signaling a bullish long-term outlook.</p>
<h2 class="wp-block-heading" id="the-0x-protocol">The 0x Protocol</h2>
<p>0x is an infrastructure protocol built to enable decentralized trading of ERC20 tokens and other assets across different blockchains like Ethereum. By removing centralized intermediaries, 0x facilitates direct peer-to-peer exchange powered by the ZRX token. ZRX holders can participate in governance and access the project’s community treasury.</p>
<p>After months of sideways trading between $0.15 and $0.28, ZRX surged to $0.57 in just two days before pulling back to $0.48 currently. This rapid 238% market cap increase points to a resurgence in 0x project interest.</p>
<h2 class="wp-block-heading" id="whale-activity-surges">Whale Activity Surges</h2>
<p>According to recent data,<a href="https://twitter.com/hoangduy477/status/1723681391383396475" target="_blank" rel="noopener noreferrer nofollow"> large-scale ZRX transactions</a> from whales have reached the highest level in 1.5 years. One such transaction saw the whale address 0x84f send 4.85 million ZRX worth $2.09 million just 15 hours ago, netting a $1.27 million profit.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="583" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-1024x583.png" alt="" class="wp-image-375447" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-1024x583.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-300x171.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-766x436.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-1536x874.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-2048x1165.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-264x150.png 264w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-615x350.png 615w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293-788x448.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-293.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>These types of whale transactions exceeding $100k in value suggest long-term holders are taking profits and re-accumulating ZRX tokens. Renewed whale <a href="https://twitter.com/bitcoin_scoop/status/1723593751648461082" target="_blank" rel="noopener noreferrer nofollow">accumulation</a> often signals confidence in a project’s fundamentals and future growth potential.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/altcoin-market-cap-gearing-up-for-14-rally-but-critical-support-retest-comes-first/" target="_blank" rel="noopener noreferrer nofollow">Altcoin Market Cap Gearing Up for 14% Rally, But Critical Support Retest Comes First</a></li>
 <li><a href="https://captainaltcoin.com/dogecoin-has-only-one-direction-from-here-as-price-confirms-crucial-breakout/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin Has Only One Direction From Here as Price Confirms Crucial Breakout</a></li>
 <li><a href="https://captainaltcoin.com/investment-spike-in-vc-spectra-by-whales-prospects-for-thorchain-and-aptos/" target="_blank" rel="noopener noreferrer nofollow">Investment Spike in VC Spectra by Whales; Prospects for THORChain and Aptos</a></li>
</ul>
<h2 class="wp-block-heading" id="in-summary">In Summary</h2>
<p>The powerful ZRX price pump appears driven by surging whale activity and overall renewed interest in 0x as a top decentralized exchange protocol. With major holders accumulating and strong indicators in place, 0x seems primed for more upside ahead amidst its resurgence. The whales help confirm the positive long-term outlook for this leading DeFi project.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-zrx-pumping-0x-protocol-whales-show-confidence-as-accumulation-reaches-record-high/" rel="noopener noreferrer nofollow">Why Is ZRX Pumping? 0x Protocol Whales Show Confidence as Accumulation Reaches Record High</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is ZRX Pumping? 0x Protocol Whales Show Confidence as Accumulation Reaches Record High

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