Decentralized exchange (DEX) protocol and NFT standard and infrastructure platform 0x Labs (ZRX) the platform with the new investment statement. altcoin made a rally.
Altcoin Rally In Price After Raising $70M In Funding Round
Greylock Partners spearheaded the undisclosed and $70 million funding round. Other investors included NFT marketplace OpenSea, Pantera Capital, Jump Crypto and actor Jared Leto.
0x Labs offers a liquidity API where developers can distribute their trades to decentralized exchanges where they can get the best prices and outputs. Supported decentralized exchanges include major platforms such as UniSwap, Curve, and Oasis.
The company also offers a global liquidity and markets search engine called Matcha to users. According to the company’s statement, thanks to this platform, users can find the exchange that offers the best price to buy and sell their altcoins.
ZRX Rises Again With Coinbase News Last Week
Last week, the platform’s altcoin ZRX rallied nearly 50% after Coinbase announced that it was collaborating with 0x Labs for its NFT marketplace.
ZRX, which was in a downtrend before the funding round news, experienced a sudden rally after the news spread. ZRX, which has gained 8% in the last 24 hours, is trading at $ 0.84 at the time of this writing.
0x Labs also held a funding round in February, raising $15 million at the Pantera-led event.
*Not investment advice.