bZx is a decentralized platform based on Ethereum that offers margin and leveraged trading services through the bZx protocol. Unlike other Ethereum-based decentralized exchanges, it stands out by providing leverage and margin services, which has quickly increased its popularity.
The bZx platform was launched in 2018 and offers two different incentives under the names iToken and pToken. Using the Fulcrum infrastructure, users can obtain tokenized credit or margin with iTokens. Users utilize pTokens to trade with tokenized assets.
The bZx ecosystem encompasses three different ERC20 tokens, with BZRX being the third one. BZX tokens were offered for sale through an IDO on the Uniswap exchange in July 2020.
BZRX Coin currently ranks 329th in terms of total market capitalization. At the time of writing this article, the bZx Protocol Coin is trading at $0.4320 with a market capitalization of $67 million. Although the total supply of BZRX Coin is over 1 billion, only 156 million are currently in circulation.
The all-time high value of the bZx Protocol Token was recorded on August 31, 2020, at $1.66. Since then, the token has experienced a significant decrease of 73%. A major attraction for bZx Protocol Token users is the reimbursement of 50% of transaction fees in BZRX. This provides a significant alternative for users who are tired of Ethereum’s transaction fees and has the potential to make a long-term impact, especially with the refund of transaction fees up to $100.
BZRX Coin can be purchased on Binance, one of the world’s largest cryptocurrency exchanges. On Binance, it can be bought and sold with trading pairs of USDT, BTC, and BUSD. The highest volume for the cryptocurrency is observed in the BZRX/USDT trading pair. The listing on Binance has been a significant factor in the price record of BZRX.