Altcoins seem to be finally recovering from May’s meltdown. Ethereum is leading the pack after climbing past $2000, and together with bitcoin, they are pushing the rest of the crypto market upwards. Zilliqa is one of the popular altcoins in the crypto market that have also reported tremendous gains.
Zilliqa’s value has increased by 13.1% in the past 24 hours. It is trading at $0.0865 at the time of trading.
Zilliqa Price Analysis
Zilliqa is showing that it may be rallying towards $0.1 after the recent gains. The token’s price has been under pressure from the broader cryptocurrency market, and for it to hold its current levels will require support.
ZIL fell by over 75% during the May market crash from its all-time high. After falling below a critical support level of $0.07, the coin is now showing promise of making good gains. Zilliqa can continue towards an uptrend if there is a growing demand for the token from investors who want to take advantage of the low prices.
However, pushing past $0.15 may trigger selloffs or create an overbought situation that may lead to a price correction. Hence, investors who want to buy ZIL should tread with caution. Rallying past $0.1 may show that ZIL bulls have been reestablished.
The Zilliqa network ranks in the same category as Polkadot and Polygon. It boasts scalability and high efficiency, with the capability of processing thousands of transactions per second. The network can be used for projects such as deploying DApps and yield farming. With a high level of competition in the market, networks are working towards making sure they have something unique to offer.
Earlier this month, Zilliqa became a Chamber of Digital Commerce member, a trade association for digital assets and blockchain. The membership will enable Zilliqa to expand its presence in the US and thus boost popularity for the network’s native token. The US is home to one of the largest crypto markets, and hence having s presence there will be good for ZIL.
Where to Buy ZIL
For those who want to purchase ZIL tokens, they can do so on the following crypto exchanges:
eToro offers reliability and a high sense of security. The exchange is licensed in many jurisdictions and offers a wide range of tools that investors can use. Besides, eToro charges some of the lowest trading fees.
The other leading exchange that supports Zilliqa is Binance. Binance is the largest exchange in trading volumes, giving investors liquidity whenever they want to buy and sell the tokens. Binance’s trading fees are also friendly.
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