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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 Price Analysis: ZIL Coin Price Bounced From The $0.075 Support, Can Its Reach The $0.116 Mark Again?

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The November price fall completely whipped out all the gains the ZIL coin presented in the October rally. After rejecting from the $0.116 resistance, the coin price was pushed back to the bottom support of $0.0768, which is currently providing decent support to the price, suggesting a bullish reversal for ZIL.

Key technical points:

  • The ZIL coin price breached a resistance trendline of the 4-hour time frame chart
  • The intraday trading volume in the ZIL coin is $111 Million, indicating a 1.76% loss.
TradingView Chart

Source- ZIL/USD chart by Tradingview

The ZIL coin price displayed an impressive recovery in October when the price bounced from the $0.075 support. However, with the same enthusiasm, the price reverted when it experienced strong rejection from the $0.0116 resistance.

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The technical chart showed a V-Top bearish reversal in this coin, which plunged the price back to this support level of $0.075. The price is again trying to obtain sufficient support from this level and is currently up by 18%.

Due to the sideways movement in price, the crucial EMAs(20, 50, 100, and 200) are drawn closer to each other, and therefore the crypto can limit these EMAs to 50 and 200 to identify the primary trend. In our case, the coin is currently in a downtrend, and the price could face strong resistance from these lines when it tries to rally.

The Relative Strength Index(47) projects a slightly bearish sentiment within the ZIL coin. 

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ZIL/USD 4-hour Time Frame Chart

TradingView Chart

Source- ZIL/USD chart by Tradingview

A descending trendline was acting as dynamic resistance to the ZIL coin price. However, by bouncing off the bottom support, the price also breached this trendline and a horizontal resistance level of $0.09. The crypto should wait for the price to complete its retest phase that should confirm the validity of this breakout. 

However, even though the price action indicated a positive outlook for this coin, the ZIL price still has a lot of EMA barriers in its way that can obstruct its rally. Therefore, coin traders should strictly follow their risk management to avoid excessive loss.

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Zilliqa Secured $1.1 Million Partnership with NFT Music Platform TokenTraxx

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Zilliqa joins TokenTraxx to modernize the music industry with the use of blockchain technology and NFT.

Zilliqa public blockchain has joined NFT music platform TokenTraxx as part of a partnership deal worth $1.1 million. The goal of the partnership will be to modernize the music industry by making it more equitable and rewarding.

The platform that aims to become carbon-neutral by 2022 is looking forward to positioning itself in the music industry with the help of a powerful blockchain network and newly available NFT technology, which will be used as a bridge between real-world and blockchain technology.

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Zilliqa’s partnership with TokenTraxx is not its first rodeo in the NFT industry. The protocol powers platforms like Mintable, Unicutes and DeMons gaming platform, in addition to other solutions based on NFT technology.

With the tokenization of the music creation process, Zilliqa will create more opportunities for artists to receive royalty payments, rights ownership and other elements found on platforms like Spotify and Apple Music. All functions can be powered via distributed ledger technology or simply run on the blockchain.

Zilliqa is excited to join a company that includes powerful expertise from the music and entertainment industries and combine modern technology and effective business practices together. By collaborating with each other, the company’s CEO, Dr. Ben Livshits, is looking forward to leveraging the benefits of blockchain.

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One of the terms of the new partnership is the injection of $1.1 million from both Zilliqa as a company and its co-founder Max Kantelia, who believes in the game-changing model that TokenTraxx created and the value it brings to music creation, consumption and collection. All of these aspects of the industry will be combined with the most modern and actively developing blockchain technology.

After collaborating with Zilliqa, the music NFT platform will instantly gain access to a secure and scalable protocol that is being used with low costs and modest gas fees. Zilliqa’s network is able to process thousands of transactions per second without facing issues like network congestion or extremely high gas fees.

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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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