Why did Zilliqa Explode in Price?
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The global crypto market is slowly making its way towards recovery and during such times, investors and traders look for new investments in better performing altcoins. Among the handful of profitable altcoins which gained entry in June with a considerable rise in their respective market is Zilliqa. Zilliqa is a rather a young cryptocurrency that finished its crowdsale at the end of previous year. Zilliqa’s markets have successfully gone through May and entered June with a green indication. Zilliqa has been gaining an increasing number of followers since Q1 and thus making constant progress. In this article, we shall discuss how profitable Zilliqa trading can be and whether it’s a risk-free investment or not.
Zilliqa has become one of just 28 cryptocurrencies to boast a market capitalization over $1 billion.
According to CoinMarketCap, Zilliqa passed the $1 billion threshold late Monday and is worth nearly $1.2 billion at the time of writing, making it the world's 23rd-most valuable cryptocurrency. The rise coincided with the announcement that Zilliqa is available to trade on OKEx, the third-highest volume cryptocurrency exchange tracked by CoinMarketCap.
The coin is also available to trade on Binance, Huobi and Gate.io, among others.
The Singapore-based project presents itself as solving the scalability problems endemic to blockchain technology through sharding, an efficiency-boosting technique that predates bitcoin but has yet to prove its viability in big permissionless networks. First introduced last year, the team's white paper claims that "at ethereum's present network size of 30,000 miners, Zilliqa would expect to process about [1,000] times the transaction rates of ethereum."
The ethereum network plans to introduce sharding in the future, perhaps undercutting Zilliqa's value proposition.
Zilliqa's market cap has more than tripled in the past 30 days, from $295 million on April 9. The coin is worth just over $0.16 at the time of writing, and is up 16.9 percent over the past 24 hours.
A Little about Zilliqa Project
Zilliqa was created as an open source blockchain whose aim is to achieve high scalability levels and remain decentralized. The project challenges Ethereum and Bitcoin in terms of speed of transactions and fee. Its cutting-edge technology makes it better than some altcoins out there in the crypto space. Each and every aspect of Zilliqa was carefully made to work better than the crypto giants. Many crypto traders have joined Zilliqa in its journey of becoming the Gem of the market by holding onto it since the time it was created. Zilliqa is best known for introducing mining through sharding and also for its currently under development new programming language named Scilla. Sharding means dividing a particular mining network into smaller shards.
Reasons for Investing in Zilliqa
Zilliqa is set to revolutionize the smart contract aspect of blockchain technology through its sharding technology and its upcoming releases. Its platform is designed in such a way to scale in transaction rates as the number of shards rises. Smaller mining units which are created through sharding can process the transaction by themselves and hence solve the problem of network congestion which is frequently experienced by developers in case of Ethereum platform. The upcoming Scilla, the programming language has created much hype within the community because it’s said to be extremely developer friendly and allows the testing of smart contracts before its launch. All of this gives Zilliqa markets the traction it needs making it a profitable investment.
Risks Associated with Zilliqa
Everyone expects to make a profit while enjoying the benefits of a certain blockchain project but it’s more than just necessary to keep a watchful eye on the risks associated with each investment. Zilliqa also has its own risks such as foreshadowing regulations which threats Zilliqa’s growth or even make it inexistent. Also, being a young project, there is always a chance of some other improved platform to be better than it and coming up with a newer, better technology all because the competition between cryptocurrencies is fiercer than what it looks like. Zilliqa’s sharding technology also gives rise to some shortcomings, for example, it requires a lot of disk space. Although Zilliqa team has hinted a collaboration with bluezelle to address these problems in the future.
Zilliqa Trading and Recent Listings
Zilliqa has come a long way since it was launched on 12th January. Its now available for trading on a number of cryptocurrency exchanges and many more exchanges are now adding Zilliqa due to its hype and expanding community. As of now, Zilliqa is listed on some of the largest crypto exchanges like Binance, KuCoin, Bithumb, Upbit and Huobi etc. It’s also available for trading at EtherDelta, IDEX, Hotbit, OKEx, Bitbns, Gate.io, Kyber Network, Radar Relay, GOPAX, and Koinex etc. However, one cannot directly buy Zilliqa with dollars or any fiat currency. First, you need to buy Bitcoin or Ethereum with fiat currency from an exchange that supports dollars and then buy Zilliqa from any of the aforementioned exchanges.
| No | Source | Pair | Volume (24h) | Price | Volume (%) | Updated |
|---|---|---|---|---|---|---|
| 1 | BinanceBinance | ZIL/BTC | $6,577,790 | $0.066042 | 18.58% | Recently |
| 2 | HuobiHuobi | ZIL/USDT | $5,736,960 | $0.065837 | 16.20% | Recently |
| 3 | BithumbBithumb | ZIL/KRW | $5,236,170 | $0.068983 | 14.79% | Recently |
| 4 | UpbitUpbit | ZIL/KRW | $4,813,790 | $0.067192 | 13.59% | Recently |
| 5 | BitForexBitForex | ZIL/USDT | $3,849,710 | $0.066134 | 10.87% | Recently |
| 6 | BinanceBinance | ZIL/ETH | $2,382,320 | $0.065839 | 6.73% | Recently |
| 7 | KorbitKorbit | ZIL/KRW | $1,194,290 | $0.066296 | 3.37% | Recently |
| 8 | OOOBTCOOOBTC | ZIL/BTC | $1,096,240 | $0.066855 | 3.10% | Recently |
| 9 | GOPAXGOPAX | ZIL/KRW | $974,900 | $0.066296 | 2.75% | Recently |
| 10 | HuobiHuobi | ZIL/BTC | $937,340 | $0.065861 | 2.65% | Recently |
| 11 | HuobiHuobi | ZIL/ETH | $904,000 | $0.065889 | 2.55% | Recently |
| 12 | Gate.ioGate.io | ZIL/USDT | $636,976 | $0.066034 | 1.80% | Recently |
| 13 | OKExOKEx | ZIL/USDT | $207,524 | $0.066034 | 0.59% | Recently |
| 14 | BinanceBinance | ZIL/BNB | $206,864 | $0.066099 | 0.58% | Recently |
| 15 | fexfex | ZIL/USDT | $154,803 | $0.065732 | 0.44% | Recently |
| 16 | OKExOKEx | ZIL/BTC | $71,127 | $0.067105 | 0.20% | Recently |
| 17 | OKExOKEx | ZIL/ETH | $64,541 | $0.065848 | 0.18% | Recently |
| 18 | fexfex | ZIL/ETH | $55,802 | $0.065834 | 0.16% | Recently |
| 19 | HotbitHotbit | ZIL/BTC | $55,502 | $0.063731 | 0.16% | Recently |
| 20 | Gate.ioGate.io | ZIL/ETH | $52,209 | $0.066110 | 0.15% | Recently |
| 21 | KucoinKucoin | ZIL/ETH | $44,601 | $0.066569 | 0.13% | Recently |
| 22 | KucoinKucoin | ZIL/BTC | $41,632 | $0.067355 | 0.12% | Recently |
| 23 | BitbnsBitbns | ZIL/INR | $29,457 | $0.067690 | 0.08% | Recently |
| 24 | ZebpayZebpay | ZIL/INR | $25,736 | $0.064900 | 0.07% | Recently |
| 25 | HotbitHotbit | ZIL/ETH | $24,508 | $0.065637 | 0.07% | Recently |
| 26 | KoinexKoinex | ZIL/INR | $16,851 | $0.064753 | 0.05% | Recently |
| 27 | Kyber NetworkKyber Network | ZIL/ETH | $7,128 | $0.067242 | 0.02% | Recently |
| 28 | HitBTCHitBTC | ZIL/BTC | $4,607 | $0.066855 | 0.01% | Recently |
| 29 | HitBTCHitBTC | ZIL/USDT | $2,409 | $0.068072 | 0.01% | Recently |
| 30 | IDEXIDEX | ZIL/ETH | $1,915 | $0.060904 | 0.01% | Recently |
| 31 | GOPAXGOPAX | ZIL/BTC | $926 | $0.060919 | 0.00% | Recently |
| 32 | GOPAXGOPAX | ZIL/ETH | $156 | $0.065192 | 0.00% | Recently |
| 33 | KoinexKoinex | ZIL/XRP | $6 | $0.060649 | 0.00% | Recently |
| 34 | EtherDelta (ForkDelta)EtherDelta (ForkDelta) | ZIL/ETH | $3 | $0.071389 | 0.00% | 17 hours ago |
| 35 | Radar RelayRadar Relay | ZIL/WETH | $0 | $0.066873 | 0.00% | Recently |
| 36 | OTCBTCOTCBTC | ZIL/ETH | $0 | $0.068864 | 0.00% | Recently |
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Very well written.
We learned from some of your writings. I'm waiting for your next post.
Thanks for share
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Thank you for those kind words.
I hope it will be useful information for you.
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Yeah
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Great post. I personally believe in Zilliqa and have chosen to load up the bag. The only position I have that is larger than my ZIL bag is ETH. ETH is here to stay but can coexist with ZIL
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As an investor, the view is quite good.
It is an excellent choice.
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As an investor,
The view is quite good. It is
An excellent choice.
- bitcoindollar
I'm a bot. I detect haiku.
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Very insightful,
You a very right, i took my time to go through the historical data of ziliqa on coinmarketcap, and trully ziliqa stands out above many other altscoin, its no doubt we are about that time of the year again when all institutional and private investors are looking towards the best project to pump in their benjamins for a higher return of investment.
Ziliqa tends to be a very good project for both short term and long term rewaards
Cheers mate, nice article
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Thank you for those kind words. I hope this helps.
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I've read an article that Neo
invested in zilliqa.
Do you think it's true?
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You saw the correct article.
The quick information is amazing.
Outstanding navigation skills.
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Happy to be holding a bit of Zillow's in my portfolio. Great write!
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Good!!! You are fortunate. Please keep it to the end.
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@bitcoindollar
Very strong coin. Zillqa coin good coin and project. Zillqa all big axcanes listed but zillqa not pump. Can u tell me.......? Zillaqa suplly very big.
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It will start now.
Take the opportunity.
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Zil coin best coin today zillqa may 15% pump nd good chance for big profit
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oh it's amazing.
But tomorrow will go up by 20%.
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Zillqa supplly very high
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Lovely project ... I am rekt now would love to invest in this but in future.
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A significant post on Steemit. I have found crucial information here about Zilliqa Project. Thanks for sharing.
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Nice, good info, I have heard talk of Zilliqa but did not know much about it, thank you.
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i already to invest Zilliqa but market crass my invest is loss plz tell me market recover time?...
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This post has received a 4.92 % upvote from @boomerang.
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You got a 6.31% upvote from @minnowvotes courtesy of @bitcoindollar!
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@bitcoindollar, Is Neo invested in Zilliqa, I think I saw an article regarding the same.
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Great post. I was going to look into investing in Zilliqa, but I'm hesitant on investing in things I don't know the background of. You made it a lot easier since at least now I know the fundamentals, so thank you.
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One of my most promising projects. Their Sharding technology will be a big game changer.
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Nice post! Would be interested to hear how you feel ZIL compares with ELA. Also FYI, think you are off on your pricing, ZIL is at $0.06 not $0.16.
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@bitcoindollar how high zillqa will go this year
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Hi @bitcoindollar. I've got an offer that might interest you as a content creator in the cryptos space. Please email me on [email protected]
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importent post
tnx for sharing
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@bitcoindollar The main thing that differentiates zilliqa with other platform based crypto is the language "Scilla" which could take the security to next level!!!
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