Bubble
0x Protocol ZRX
0x Protocol (ZRX) was trading at $0.0966, ranked #306 by market cap at $81.95M, with 24h volume of $19.63M.
Data snapshot: 2026-09-02 12:15 UTC.
0x is trading infrastructure rather than an exchange: its API routes orders across dozens of liquidity sources, and it sits behind swap features in wallets and applications where the user never sees the 0x name. That makes it one of the quieter but more widely embedded pieces of DeFi plumbing, dating back to 2017. 0x is infrastructure rather than a destination: its protocol and APIs are what many wallets and applications use behind the scenes to source liquidity and execute swaps, so most people who use it never see the name. That gives it a stable, integration-driven business rather than one dependent on attracting traders directly. ZRX is its governance token. On this map it is a long-established, comparatively small asset in the exchange group, and its relevance is better judged by integrations than by trading volume on its own front end.
Is 0x an exchange?
Not a consumer-facing one. It provides protocol infrastructure and APIs that wallets and applications use to source liquidity and route trades.
Why is it less visible than other DEX names?
Because it sits behind other products. Users trade through the applications that integrate it rather than through a 0x interface.
What is ZRX used for?
Governance of the protocol and staking within its market-maker incentive system.
How should its position be assessed?
By integrations and routed volume rather than by direct front-end usage, since that is where its business actually sits.
Market cap decides how big a bubble is drawn, so rank is what places ZRX on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #233 | Synthetix (SNX) | $120.75M |
| #282 | dYdX (DYDX) | $93.37M |
| #306 | 0x Protocol (ZRX) | $81.95M |
| #331 | Orca (ORCA) | $73.53M |
| #337 | CoW Protocol (COW) | $72.34M |