Ox (ZRX) Receives Boost From Korean Markets – 79% Weekly Growth

Ox (ZRX) is currently riding the crest of a wave which has carried it to a three week high, and a token value of $1.04. That adds up to more than 79% gains since June 29th, when one ZRX token was worth $0.58.

Today’s movements show a 22% growth, most of which came in the last 14 hours alone. The markets have just begun to turn upwards, so we might be seeing Ox grow even more in the next few hours. Don’t be surprised if it pushes 30% growth for the day and tickles the undergrowth of $1.10.

A price of $1.16 would represent 100% gains over three weeks, but that may be out of reach for the time being. The price has since begun to even out in the high $0.98s, but things move quickly in the crypto world and the next 24 hours will tell its own tale.

The Korean Touch

Ox was recently listed on the Bithumb exchange, opening it up to the South Korean market. The ZRX token was already trading against the South Korean Won (KRW) on the Upbit exchange, however the volume recorded there pales in comparison to Bithumb.

Bithumb is responsible for 31% of the daily ZRX trades, all of which has been against South Korean Won. That volume amounts to almost $7 million at the time of writing, out of the total daily volume of just under $22 million.

Bitcoin trades aren’t far behind, with ZRX/BTC trades making up 28% of the daily volume on Binance alone. At the start of the day, BTC trades made up the majority of the volume, but those were soon eclipsed by the sudden surge of trades coming from South Korea.

McAfee’s Predictions

The outspoken and controversial John McAfee threw out a scattering of predictions at the beginning of June, and while they haven’t come to fruition just yet, it seems that at least one of them might be on the way.

McAfee predicted that QuantStamp (QSP) would hit $0.50 by August. He declared that ClearPoll (POLL) would hit $2.40 in the same time frame; and he pointed to August 1st as the date when Ox would reach $2.90.

Such predictions are good for grabbing headlines and not much else, but looking at the growth of Ox in the past week there is an outside chance given the 79% growth over the last five days.

Ox’s movements over the past day have pushed it ahead of Aeternity into the 27th spot in market cap rankings. Lisk is still some way ahead and has just started to spike as LSK coins attempt to push past $1.90. Just ahead of Lisk is Zilliqa, which has grown over 10% for the day and continues its recent run of upward spurts.

Featured image courtesy of Shutterstock. 

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.