The sharded design of Zilliqa’s smart contract platform tries to overcome the scalability issues that certain other blockchains have. Due to its sharded architecture, the network’s total capacity is increased by concurrent chains being able to process transactions simultaneously. Zilliqa offers a smart contract layer in addition to scalability to facilitate the generation of smart contracts using its own programming language, Scilla. Through a hybrid Proof-of-Work-BFT method, the network comes to an agreement on transactions and contract executions. It will also roll out a staking mechanism in the coming weeks in an effort to, as it puts it, spread out node operators.
The sharded design of Zilliqa’s smart contract platform tries to overcome the scalability issues that certain other blockchains have. Due to its sharded architecture, the network’s total capacity is increased by concurrent chains being able to process transactions simultaneously. Zilliqa offers a smart contract layer in addition to scalability to assist a group of scholars from the National University of Singapore. Who created the Zilliqa project in 2017.
Xinshu Dong, Yaoqi Jia, Amrit Kumar, and Prateek Saxena were among the original team members. Prateek Saxena had previously collaborated with Loi Luu, the CEO and co-founder of Kyber Network. A few months before the team deployed its first testnet, in June 2017, they formed the business that would become Zilliqa Research.
With a mechanism designed to overcome the scalability issues encountered in certain other blockchains, Zilliqa implements the principle of sharding. Because of its sharded architecture, concurrent chains may process transactions simultaneously, boosting the network’s total capacity. The team’s main driving force in developing this solution was to construct a platform. That could execute smart contracts at a large scale without compromising fundamental blockchain concepts, including the decentralized node management model.
Prices
The price of Zilliqa is now $0.0199, down 2.77% over the last 24 hours. It has a $316.1 million market value and occupies position 98 in the cryptocurrency world. According to statistics from Coinglass Derivatives. There has been an increase in Open Interest of $101.2K on the long side but not on the short side.
Highlights
- In the past 30 days, there have been 16 green days, which is 53% more than the token sale price.
- depending on its market cap, has a high level of liquidity.
- Trading with the Indian Rupee on Binance
Zilliqa’s cost has increased by 11.16% during the last week. On the previous day, the price rose by 1.08%. Just in the previous hour, the price dropped by 0.11%. Per ZIL, the price right now is $1.82. Zilliqa has fallen by 91.47% from its previous peak of 21.36.
The number of ZIL in circulation at the moment is 15,867,699,446.77.
Note
- The current Zilliqa price, according to our real-time ZIL to USD price update, is $0.022 USD.
- Our Zilliqa price forecast indicates that the price of ZIL will decline by -3.5% and reach its lowest point on July 18, 2023.
- According to our research of the technical indicators. The market is currently 47% neutrally bearish and has a fear and greed index score of 57 (greed).
- Zilliqa has had 7.70% price volatility and 17/30 (57%) green days during the previous 30 days.
Analysis
Zilliqa is now trading at $0.022212 and is ranked #94 among all cryptocurrencies in terms of price. There are presently $351,517,779 worth of Zilliqa shares in circulation, with a total supply of 15,867,699,447.
The cost of Zilliqa has gone up by 0.84% during the last 24 hours. Over the past week, Zilliqa has risen steadily, gaining 12.17%. Investors in Zilliqa are thrilled with this gain and their return on investment this week.
ZIL’s price rose by 24.50% over the past 30 days, adding $0.004371 to its previous price of $0.017841 and raising the market capitalization to $351,517,779 as a result. If you are considering purchasing Zilliqa right now, you should hold off until the next bear market.
Daily Chart Analysis
Moving Average
- The 50-day moving average is now sloping down and above the current Zilliqa price, which might work as resistance the next time it interacts with it. Zilliqa is currently trending bearish on the 1 daytime frame.
- Zilliqa’s 200-day moving average is also dipping downward and has been doing so since 6/17/2023, indicating a poor trend.
- Given that the 200-day moving average is now above the price. If the two converge again, it may serve as resistance to maintain the trend.
- Given the direction of the 50-day and 200-day moving averages trends, a Zilliqa price forecast for the next day would be negative.
Index of Relative Strength
- The RSI is currently in the neutral 30-70 range, indicating a neutral trend in the price and the ability of the price to maintain the RSI in that position for some time.
- No bullish or bearish divergence has shown during the previous 14 candles, thus there is no indication that the price will soon reverse from its present levels.
Weekly Chart
Average Movement
- The 50-day moving average is now sloping down and above the current Zilliqa price. Which might function as resistance the next time it interacts with it. This indicates that Zilliqa is currently trending bearish on a weekly time frame.
- Since the 200-weekly moving average is now above the price, if the two converge again, it may serve as resistance to maintaining the trend.
Index of Relative Strength
- The RSI is currently in the neutral 30-70 range, indicating a neutral trend in the price and the ability of the price to maintain the RSI in that position for some time.
MACD
- There is a positive divergence on the histogram side, which may indicate that the price will also reverse.
Prediction:
Price Prediction for Zilliqa (ZIL) in 2023
We anticipate that Zilliqa will reach a maximum price of $0.039981 when the market begins to recover as we emerge from the crypto winter. The lowest anticipated price is $0.026654, while the average price is likely to be in the range of $0.033318.
Price Prediction for Zilliqa (ZIL) in 2024
Our system predicts that Zilliqa can reach a maximum price of $0.062193 in 2024 while maintaining an average price of $0.05553 as the cryptocurrency keeps climbing to new highs. The lowest price ZIL can reach in 2024, in the event of a bear market, is $0.048866.
Price Prediction for Zilliqa (ZIL) in 2025
We anticipate significant growth for Zilliqa in 2025 as the cryptocurrency gets acceptance across a wide range of industries. As a consequence, the price may increase to $0.084405, with an average of $0.077741. The minimum pricing for Zilliqa might be $0.071078.
Conclusion:
The price of Zilliqa (ZIL), according to the combined study of price movement and indicators, is attempting to construct a double-bottom pattern close to the demand zone. Now, if buyers can protect the swing low, the price may bounce back up to 0.037, but if sellers prevail, they’ll try to create a new swing low. The Zilliqa (ZIL) coin price prognosis currently appears to be uncertain.
