If you look at the coin market cap chart for Zilliqa (ZIL) over the past few months, you will note something unique. It doesn’t seem to be affected by the massive drops that hit the rest of the crypto market in Q1 of 2018. Zilliqa also seems to be outperforming the market in Q2. For instance, today most cryptos are in the red, or sluggish at best. That’s not the case for Zilliqa, which is up by over 10% in intra-day trading. So what’s driving it?
There are a number of factors pushing up the value of Zilliqa, but the biggest one is the upcoming listing on the CoinBit exchange. CoinBit announced via Twitter that they will be listing Zilliqa and several other cryptos on the 11th of May, and the market is excited. The excitement is partly because CoinBit is a Korean exchange, and South Korea is one of the largest crypto markets in the world. As such, this listing is guaranteed to push up the volumes of Zilliqa by a huge margin. If current price action is driven by the upcoming listing, it then follows that price could push up by an even bigger margin once the listing actually takes place.
Besides this listing, Zilliqa (ZIL) is also being pushed by the aggressive marketing of its team. The Zilliqa team is working hard to ensure that people all across the world get to know of this high throughput crypto. On the 20th of this month, Zilliqa will be hosting a conference in Romania. They will also be at the much awaited consensus in New York on the 15th of this month.
In essence, the upcoming listing on CoinBit and the upcoming conferences in both Europe and America will see a volumes surge for Zilliqa. However, these two are only short-term boosts. In the long-run, Zilliqa will draw its value from its adoption across industries. When compared to most blockchain projects in the market, Zilliqa is one of those with the highest potential for adoption.
That’s because it is designed to be a high throughput blockchain, and can scale way better than some of the more popular platforms available, including Ethereum. This aspect of scalability is what gives it an edge at a point when companies are looking for ways to integrate blockchain technology into their systems. This explains why investors have had a favorable outlook for this crypto, even when the rest of the market was standing on shaky ground.
From a price analysis perspective, the volumes of Zilliqa (ZIL) traded are on the rise, and the charts are forming a clearly defined uptrend. This is a confirmation that even in the very short-term, there is a strong case that Zilliqa will continue to rise. If the current trend continues, Zilliqa could easily gain by over 20% in the next few hours. One thing is clear though, whether you are a short-term or a long-term investor, there is an opportunity in Zilliqa.