Zilliqa and ZIL Token: Let us dig deeper
Zilliqa is an innovative blockchain that pioneered the concept of sharding, which has been embraced by other networks like Polkadot and Elrond. Developers use the network to build applications in all popular industries like decentralized finance (DeFi) and gaming. Because of sharding, the platform is substantially faster than other networks.
The Zilliqa ecosystem has been growing. Some of the most popular applications in the ecosystem are LunarCrash, XCAD Network, Atomic Wallet, and Autofarm. DeFi Llama tracks two applications built using Zilliqa: Zilswap and Pillar that have a total value locked (TVL) of over $24.4 million. It has also been used to build a few stablecoins like the Pillar Protocol and Chocolate stablecoin.
ZIL is the native token for the Zilliqa ecosystem. According to CoinGecko, Zilliqa has a market capitalization of over $1.4 billion. It has a total supply of 21 billion coins, with 14.2 million of them being in circulation.
Zilliqa (ZIL) price history and technical analysis
Zilliqa was once one of the biggest cryptocurrencies globally. At the time, investors were cheering its sharding innovation and the fact that its platform was significantly faster than Ethereum and other popular smart chains. As a result, Zilliqa jumped and reached an all-time high of $0.2610 in April 2021,
Zilliqa then went through a difficult period that saw its price crash by over 97%. Its ranking among digital currencies declined from top 20 to below 120. In 2022, the coin regained momentum and approached its all-time high.
On the daily chart, the ZIL token has moved slightly below the important resistance level at $0.1366, which was the highest point on September 6th. It has moved between the 50-day and 25-day exponential moving averages while the MACD is attempting to cross the neutral level. Therefore, the coin will likely keep falling as bears target the key resistance level at $0.050.
Zilliqa (ZIL) price prediction for a year
Zilliqa has made an impressive rebound in the past few months as its ecosystem growth accelerated. The network has inked several partnerships that will provide a boost to the ZIL price. For example, it has entered the metaverse industry by partnering with Metapolis, a metaverse platform and DeMons, an ecosystem of NFT assets.
Still, its performance this year will also depend on monetary policy. With Fed embracing a more hawkish tone, there is a possibility that the token’s price will retreat. Indeed, Zilliqa and other cryptocurrencies have struggled since the Fed signaled that it will hike rates aggressively. The tech-heavy Nasdaq 100 index has also declined in this period.
According to Digital Coin Price, ZIL will average $0.13 in 2022. This price is about 32% above the current level. Wallet Investor expects that the coin will be a bit volatile this year.
Zilliqa (ZIL) price prediction for 2025
There are several factors that will affect the price of Zilliqa by 2025. For example, it will depend on the monetary policy that the Fed will embrace in this period. If the Fed maintains a hawkish policy, there is a likelihood that the price will find it difficult to perform. Further, it will depend on the rising competition in the industry and how the DeFi and NFT industries perform in the long term.
According to Gov Capital, Zilliqa price will likely start the year at $0.2660 and then end 2025 at about $0.375. These prices are significantly higher than where the coin is currently trading at. Another estimate by Digital Coin Price, the coin is expected to average at $0.20 in 2025.
Zilliqa (ZIL) in Questions and Answers
Is Zilliqa Coin real?
Yes. Zilliqa is a real coin. ZIL is the native token of the Zilliqa ecosystem.
Will Zilliqa reach $10?
Zilliqa is trading at $0.09. Therefore, to rise to $10, the coin needs to jump by more than 3,000%. Therefore, such performance is highly unlikely in the coming years.
Should I buy Zilliqa Coin?
Zilliqa has been a good investment in the past few years. With its ecosystem growing, there is a possibility that the ZIL coin will continue rising in the coming years. However, in the near term, the price will be a bit volatile.
How much will be Zilliqa be in five years?
Zilliqa is expected to do well in the next five years as its ecosystem grows. Therefore, there is a likelihood that the ZIL token will keep rising. A conservative estimate is that the coin will likely hit the important level at $0.30.
Where do I buy Zilliqa?
Zilliqa is a popular cryptocurrency. As a result, its coin is offered in most exchanges such as Coinbase, Crypto.com, Huobi, and Kraken.
This article represents the views of the author. Cryptocurrencies are highly speculative assets and the author will not be held liable for any losses.
