- 0x releases a new market making program to bring liquidity into the market.
- ZRX/USD is trading within a range between $0.40 and $0.32.
- Support moving forward: $0.32, $0.3170, $0.30, $0.2941, $0.2805, $0.2772.
- Resistance moving forward: $0.3330, $0.3419, $0.3761, $0.4023, $0.4364, $0.4553, $0.4830.
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A low level of liquidity within the market is one of the biggest problems within in the cryptocurrency industry.
Liquidity is the degree of ease with which an asset can be converted into cash (or other cryptocurrency) without affecting the stability of the market. A high level of liquidity brings about fairer prices, market stability, quick exchanges and allows analysts, such as myself, to provide accurate technical analysis within the market.
Low liquidity is a problem that 0x aims to combat through their brand new Market Maker Program. The program is designed to provide incentives for market makers to provide liquidity to make the market more efficient.
The team has…