Coinbase Pro Launches Three 0x (ZRX) Pairs

Coinbase shocked the world today by announcing the surprise launch of three 0x (ZRX) pairs.

In a tweet from earlier today, Coinbase announced the launch of ZRX/USD, ZRX/BTC, and ZRX/EUR orderbooks on Coinbase Pro, the exchange formerly known as GDAX.

Traders can deposit 0x (ZRX) into their Coinbase accounts starting immediately, although they cannot yet place or fill orders.

ZRX is launching on Coinbase Pro! The ZRX/USD, ZRX/BTC, and ZRX/EUR order books have entered transfer-only mode. Traders can deposit ZRX, but cannot yet place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/SomOUqoXhv

— Coinbase Pro (@CoinbasePro) October 11, 2018

Coinbase Pro officially began accepting ZRX deposits at 10am PT on Thursday, October 11.

As ZRX deposits pour into the exchange and liquidity is established, trading will begin on the three pairs listed above.

“ZRX trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York,” explained Coinbase in a follow-up blog post.

Coinbase also emphasized that ZRS was not yet available through the Coinbase.com website nor the Coinbase iOS and Android mobile apps.

“We will make a separate announcement when that occurs,” explained Coinbase.

There Will Be Four Stages of the ZRX Launch

Coinbase clarified four stages of the ZRX launch. These stages are similar to how Coinbase has rolled out other cryptocurrencies on their platform in the past. Essentially, Coinbase starts accepting deposits first before gradually adding trading capabilities over time.

Coinbase will tweet the four stages of launch to alert users. The four stages include:

Stage 1) Transfer Only: Starting at 10am PT on Thursday, October 11, customers can transfer ZRX into their Coinbase Pro account. Customers cannot yet place orders, and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.

Stage 2) Post Only: In this stage, customers will be able to post limit orders but there will be no matches (no completed orders). Order books will be in post only mode for a minimum of one minute.

Stage 3) Limit Only: In this third stage, limit orders will start matching but customers will be unable to submit market orders. Order books will be in limit only mode for a minimum of 10 minutes.

Stage 4) Full Trading: In the final stage, full trading services will be available to Coinbase Pro users, including limit, market, and stop orders.

“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our trading rules.”

There Were Hints of Coinbase Listing 0x (ZRX) Earlier this Week

Interestingly, Coinbase may have leaked the ZRX listing news earlier this week.

ZRX soared earlier this week when it was rumored that Coinbase was exploring the launch of the token. As spotted by a Twitter user on October 8, ZRX began showing up under transaction/tax reports on Coinbase.

Some people took this to mean that 0x (ZRX) was about to be listed on Coinbase – especially after the exchange’s September 25 announcement that it was going to list more coins. Clearly, a Coinbase employee had slipped up and accidentally published information to the site before it was officially announced.

Others, however, believed that leak was a hoax designed to pump ZRX. They claimed the Twitter user was just trolling or had modified the image.

Clearly, as we now know, this wasn’t a hoax, and three ZRX trading pairs are officially available on Coinbase Pro, including ZRX/USD, ZRX/BTC, and ZRX/EUR. The link between Coinbase and ZRX has been seen in a few other cases, Coinbase Wallet and Coinbase's Paradex adding ZRX.

0x (ZRX) is surging on the news, currently up 16% over the last 24 hours. ZRX reached a high earlier this year of around $1.80, then surged to a high of $0.77 earlier this week after the Coinbase rumors first emerged online. It seems likely ZRX will surpass that high as the news has been officially confirmed.