Why Zilliqa Has Increased Its Value By 75% » Crypto Insiders

ZIL took off strongly today, rising 75%. Here we look at possible fundamental catalysts that could explain the appreciation in value. Once we have done that, we analyze the price based on technical analysis so that you can make an informed decision to buy or sell ZIL.

The best climber of the day is Zilliqa (ZIL). This cryptocurrency managed to skyrocket by about 75% in the last 24 hours. In the last seven days we saw a return of around 114%. The increase has placed ZIL in 80th place by market value.

What is Zilliqa?

Zilliqa’s goal is to be able to process as many transactions as possible per second. To achieve this goal, they use a protocol that fragmentation is named. With sharding, the system in which the miners are deployed works slightly differently than what we are normally used to. Instead of all the miners working in one big pool to process all the incoming transactions, these miners are divided into several smaller pools. In this way, miners can be better implemented to process all transactions at the same time. As a result, incoming transactions are processed faster and there can be no congestion in the order book.

Furthermore, Zilliqa also provides a platform where developers can create various decentralized applications (dApps). the native Zilliqa token is ZIL and it is used within this platform and a user can use these dApps.

Why is ZIL increasing in value?

One possible explanation for ZIL’s rise could be that Zilliqa will reveal more about its new metaverse. ‘Metapolis’ in a fair in miami April 2 Metapolis is a metaverse designed by Zilliqa and is said to be a large and very immersive metaverse.

Given that the metaverse sector has become very popular lately, it’s no surprise that there’s a lot of buzz surrounding this metaverse as well. Where Zilliqa has always been a popular project, this has only made it more popular. The impact of this announcement was also reflected in the rise of ZIL. So on April 2 we will get more information about Metapolis. we’ll put you in premium environment keep members updated on developments related to this project.

ZIL does not mind consolidating the price of bitcoin

ZIL has had a tremendous surge, which of course was not driven by technical but fundamental catalysts. This makes it very difficult to write a technical analysis based on this price action. However, we are seeing some interesting things right now.

For example, the price has been at a falling wedge† In theory this is already a bullish cartridge. Therefore, a breakout at the top is not entirely unexpected. At time of writing, the price seems to be having some trouble with the $0.095 resistance. If we break above this, we could also test $0.116 resistance and we can test $0.095 as new support.

It will be interesting to see if this increase can continue, slow down or expand if the event in Miami turns out to be a success. For now, all technical indicators seem to point to a (short) drop or sideways price action, which is not surprising after the parabolic rally.

What are the expectations for the next period?

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