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Zilliqa (ZIL) Price Prediction 2021: Market Analysis and Opinions

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Zilliqa is the native token for the Zilliqa blockchain. The blockchain is designed to be permissionless with the capacity to offer high throughput to process thousands of transactions per second. Zilliqa now has a market cap of about $1,149,104,697. It also has a circulating supply of 11.39 billion out of the maximum supply of 21 billion Zil. In this Zilliqa price prediction, we will analyze its price behavior, important market opinions, significant news, and more.

Zilliqa Price Prediction: Technical Analysis

Zilliqa is down over 50% from its year-high of $0.2376. This is largely due to the general market dip that is ongoing. Most cryptocurrencies have experienced this dip and there is not a clear breakout yet even though some are showing good signs of recovery. Since the year began, ZIL has been rising steadily although it is not among the best performers so far. But what does the future hold for this asset?

At the moment, ZIL doesn’t look very appealing, and investors may find this scary and for good reason. Volatility has greatly reduced, and the asset is trading within a very tight range that is constantly moving towards lower prices. This means there is the tendency for the price to dip even lower in the short term than it already has.

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The RSI is at 50 and also dropping fast. As it is still at over 40, this confirms the fact that the price could still drop further as 30 is the level where it is considered oversold and ready for a reversal to the upside.

Two major moving averages, the 50 and 200 MAs are used to determine the direction of price movement and the sentiment concerning an asset. Both MAs have crossed above the ZIL price, which is an indication of a strong bearish trend. Secondly, the 50 MA is dipping towards the 200 MA and will confirm a full bearish reversal when it crosses below. This is likely to happen if the current trend continues in the next few days.

This will throw the market into a full selling spree that could push the price much lower. The MAs above the price have also formed potential resistances that may take some time for the price to break and move upwards. The following are other key resistance and support levels to keep in mind when trading ZIL, according to Walletinvestor:

  • Resistance Level (R3): 0.114;
  • Resistance Level (R2): 0.112;
  • Resistance Level (R1): 0.1076;
  • Pivot Point: 0.1048;
  • Support Level (S1): 0.10080;
  • Support Level (S2): 0.0980;
  • Support Level (S3): 0.0940.

Zilliqa Price Prediction: Market Opinions

The following are market opinions on Zilliqa price prediction for the year 2021 from major reputable websites.

Tradingbeasts

Tradingbeasts expects the price of Zilliqa to keep growing progressively up to the end of the year. The minimum price for this asset from now on according to their Zilliqa price prediction is $0.1194427. The price could also grow to a maximum of $0.1844048 by December 2021.

Month Minimum Price Maximum Price Average Price Change
July 2021  0.1194427  0.1756511  0.1405209 35.17 %
August 2021  0.1206073  0.1773637  0.1418909 36.49 %
September 2021  0.1217937  0.1791084  0.1432867 37.83 %
October 2021  0.1229620  0.1808265  0.1446612 39.15 %
November 2021  0.1241893  0.1826313  0.1461050 40.54 %
December 2021  0.1253953  0.1844048  0.1475239 41.91 %

Digitalcoinprice

Digitalcoinprice’s Zilliqa price prediction foresees significant price changes in the coming months. The price is expected to reach a year high of $0.1710 in September. The closing price for the year is $0.13907728.

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Month Average Price ($) Change (%)
Jul 2021 $0.15964695 USD 58.49 %
Aug 2021 $0.16333033 USD 62.14 %
Sep 2021 $0.17106365 USD 69.82 %
Oct 2021 $0.15042131 USD 49.33 %
Nov 2021 $0.13524210 USD 34.26 %
Dec 2021 $0.13907728 USD 38.07 %

Cryptocurrencypriceprediction

According to this website, ZIL will reach $0.1748 by July after which it will explode, reaching $0.3409 by August. Based on their ZIL price prediction, the price will then grow continuously to reach $0.6357 by December. This is the most bullish ZIL price prediction so far.

Month & Year ZIL Price Prediction
July 2021 $0.1748
August 2021 $0.3245
September 2021 $0.3664
October 2021 $0.3936
November 2021 $0.4501
December 2021 $0.6051

Gov.capital

The end of year prediction, according to this website, is $0.1031, although the highest predicted price for the year is $0.1197. The least expected price from now on is $0.06. This is the most bearish ZIL price prediction so far for 2021.

Latest News and Happenings Concerning Zilliqa

Zilliqa is a blockchain created to facilitate faster transactions than more popular cryptocurrencies such as Bitcoin can. The project is working on different improvements to bring better services to its users. About a year ago, it enabled the Zilliqa staking function with help from KuCoin. With this feature, seed node operators on the network can share their block rewards with delegate stakers.

This is in a bid to keep in step with the fast evolving cryptocurrency space that now has staking at the centre for most projects. Among other features added that have made Zilliqa more versatile are the ability for Ethereum Classic miners to also mine Zilliqa. With a little configuration, ETC miners can switch between the two blockchains at set time periods and mine the two cryptocurrencies.

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Meanwhile, Ethereum creator Buterin Vitalik says Zilliqa has a lot of potential for growth and improvement. He said this after acknowledging Zilliqa following a request by a member of the Zilliqa community last year. Vitalik said just like Ethereum, ZIL has a lot of room to succeed and prosper.

At the moment even though the price doesn’t look very attractive, with such developments in place, ZIL could potentially compete with other top cryptocurrencies in the emerging world of blockchain and crypto in the near future.

Zilliqa Price Prediction: Verdict

ZIL price is down, and this is not unusual as the entire market is facing the same situation. However, what is not clear is for how long the bearish trend will last. The good thing about such a bear market though is that investors can pile up for the next bounce, and that is the opportunity that is available for ZIL fans right now.

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Zilliqa (ZIL) Pooling Liquidity on ZIL/USDT, ZIL/ETH and ZIL/BTC pairs

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Zilliqa claims to be the pulse of the creator economy facilitating borderless solutions and NFT market places.

Zilliqa expressed:  Liquidity Mining Incentives are now LIVE on ZilSwap for Bridged Assets. 45.3m ZIL in incentives will be disbursed over the course of 6 weeks for pooling liquidity on ZIL/USDT, ZIL/ETH and ZIL/BTC pairs

Further, Zilliqa ecosystem has been showing some volume on PIL in the past 24 hours and therefore many were left wondering if the community was taking leverage or Arbitraging.

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Community Response: I think ZIL is down the drain slowly getting out of the top 100. You can do it ZIL. Just keep on pushing.

As soon as I finish the pool, I will migrate to big projects, and stop speculating on these kind of weak projects.

Considering it’s a stable coin and it’s at the price it needs to be, I wouldn’t worry, if you look at the chart for this, their is no logic to it, it’s at $1 then for some reason jumps to something like $7 then straight back down.

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For clarity, PIL is the stable coin from the Pillar Protocol easy to generate, held in wallets supported by the Zilliqa blockchain. The Pillar Protocol is a dapp on the Zilliqa blockchain. Designed by a disparate group of contributors, including developers within the Pillar Foundation, its outside partners, and other persons and entities, and will be a decentralized finance (DeFi) application.

The Pillar Protocol is managed by people around the world who hold Zilliqa’s governance token, gZIL. Through a system of scientific governance involving Executive Voting and Governance Polling, gZil holders govern the Protocol and the financial risks of Pillar to ensure its stability, transparency, and efficiency. One gZIL token locked in a voting contract equals one vote.

Leverage is the process of using borrowed capital for an investment and expecting the profits made to be greater than the interest payable. It is about using something to maximum advantage.

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Arbitraging is the process of simultaneously buying and selling a commodity in two different markets.

Liquidity Mining is the DeFi (decentralized finance) terminology used to refer to participants who supply cryptocurrencies to liquidity pools.  They get rewarded with fees and tokens based on their share of the total pool liquidity.

The revenue of the Liquidity pool comes from the transaction fee, which is paid by end-users who make transactions like borrowing, lending, and exchanging coins. These are known as mining rewards and they work out to be the profits for investors who provide for liquidity to the protocol.

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Liquidity mining is also known as yield farming.  The entire process is about staking your token to the liquidity pool to eventually make some profits from transaction fee, which is considered to be a good way to make some money as opposed to simply holding the crypto as the price goes up and down.

Locking the value in the liquidity pool is a lot like make a fixed deposit and earning an interest on the amount in the real time world.

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Zilliqa (ZIL) to Have Its Own NFT Marketplace

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Zilliqa’s DeFi ecosystem ZilSwap to host “the OpenSea of Zilliqa”: details

Switcheo Network, a second-layer interoperability platform, shares the details on the launch of the marketplace for non-fungible tokens (NFTs) on ZilSwap.

NFT euphoria outgrows Ethereum (ETH), Switcheo launches marketplace on Zilliqa (ZIL)

According to the official announcement (https://blog.switcheo.network/creating-the-opensea-of-zilliqa/) shared on the Switcheo Network’s blog, the multi-purpose platform for minting, storage and trading of non-fungible tokens is set to launch on Zilliqa (ZIL).

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In collaborating with ZilSwap, a Zilliqa-based decentralized finances hub, Switcheo Labs, is going to release “more inclusive and accessible NFT ecosystem.”

The upcoming marketplace will be interoperable with Ethereum (ETH) thanks to a novel cross-chain bridge powered by the Switcheo Network. As such, existing Ethereum-based NFT initiatives will be able to migrate to Zilliqa.

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The Switcheo Network team is certain that this launch will come as a crucial milestone for both the digital collectibles’ space and Zilliqa (ZIL) progresses:

As a platform that is well-positioned to capture a significant portion of the NFT space, the new marketplace will serve to further strengthen ZilSwap’s position as the premier platform on Zilliqa.

Limited NFT collection introduced to commemorate the milestone

More details on the upcoming release will be unveiled soon.

To celebrate the launch, The Bear Market limited NFT collection will be introduced on Sept. 15, 2021. Besides the launch of the marketplace, this release will commemorate the first 

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As covered by U.Today previously, Zilliqa’s (ZIL) transactions got stuck on Aug. 30 due to unexpected issues with the mainnet upgrade. The Zilliqa (ZIL) team released the recovery plan and claimed that all losses would be compensated.

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Zilliqa (ZIL) Were the First To Employ Sharding in a Public Blockchain

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ZIL community appreciates Zilliqa, the high-performance enterprise-grade blockchain, by pointing to how it has shown that blockchain is not just about buying and selling crypto. It can also be about: Combating fraud, enhancing Transparency for social impact and predicting Risks thru crowdsourcing, and maximizing Investment ROI. Furthermore, supporting SMEs and Protecting Data.

The community claims the Zilbridge progress to give people valid reasons to build on Zilliqa.

Amrit Kumar of Zilliqa stated one of their Unique Selling points was:  “There was a point in time if you wanted to perform a transaction worth of 5 dollars, you have to pay a transaction fee of 100 dollars’ worth of fees. It was at that time that you get started looking into scalability. And the solution that we came up with was Sharding, which is something that you see that many other chains are pursuing as well, but we are the first ones to show that we actually employed Sharding in a public blockchain like Zilliqa.”

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The second problem they identified was that you could have smart contracts that are so expressive that they invite many attacks.  It started from DAO when the Ethereum community got divided into Ethereum Classic. It was very clear from all these incidents that you can’t just wait and watch; you need to go ahead to build solutions that could prevent if you cannot eliminate completely at least mitigate some of those hacks that you see on an everyday basis.

To deal with this, Zilliqa collaborated with an academic from UCL in London.  The idea was to develop a language that would eliminate some of the hacks from happening in the future.  We designed a new language that we call Scilla with the idea of making the language more resistant to attacks; you could actually make it even stronger.  You could say, look, if you have a contract that holds a billion dollars, you want to make sure that no one can steal or freeze that money.  And, what you need essentially is a mathematical proof that would say here is the guarantee.  My guarantee is a guarantee it a mathematical proof. And, languages like Scilla allow you to do that more easily. Even if you tried to do that, it is much more complex.

So, the idea was to be able to design a language that is safe by design and at the same time gives you some stronger properties that is very hard to proof. And, thus focusing on scalability and smart contract safety.

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