Zilliqa is a blockchain project that has surpassed other leading blockchain platforms in terms of scaling and handling a higher number of transactions per second. The platform’s native coin, ZIL coin, has seen some major price fluctuations in 2018. Here we shall look at how the ZIL coin price is prepared to walk through 2019.
Before
diving into the ZIL coin price predictions, let’s briefly discuss the
uniqueness of Zilliqa as a platform.
What
sets Zilliqa apart from other blockchain projects?
Comparing
Zilliqa with Ethereum on a scalability level, Zilliqa will surely lead the way.
Reason? Ethereum is currently looking to implement the sharding idea so that it
can boost the number of transactions the platform can handle per second.
For
Zilliqa, this has already been implemented and acts as proof that blockchains
do not need to be overly slow when handling a huge number of transactions.
Sharding works by distributing the workload among nodes and requires that the
group of nodes handling a specific task report back to the other nodes in other
groups.
Sharding
also helps in reducing the amount of bandwidth consumed by the nodes since the
tasks handled are not the same.
The
current and past ZIL coin price review
As of the time of writing, the ZIL coin price stood at $0.0180 and which indicated a 2.80 percent increase. Currently, ZIL’s circulating supply stands at 8.3 billion and the ZIL coin holds position 37 on Coinmarketcap.
However,
being an altcoin, the ZIL coin price has seen both better and worse days since
its launch.
For
example, on March 9, 2018, the ZIL coin
price closed the day at $0.0407 a position it maintained until April 15, 2018,
when it closed the day at $0.0639. From then on, the price started appreciating
and closed the month at $0.1009.
The
coin kept the momentum all through the month of May 2018 where it touched
$0.2003 on May 9. Halfway into June, the ZIL
coin price dropped to $0.0996. The downward trajectory plagued the ZIL coin
price until the end of 2018 where it closed the year at $0.0195.
In
the first month of this year, the ZIL coin price hovered around $0.0200. In Feb 2019 the ZIL coin was exchanging hands
at around $0.0170 a price it has maintained till the early days of March 2019.
The
ZIL coin price outlook for the next 8 months
From the past trend, the ZIL coin price may not gain much on its own. However, as the price of other altcoins roughly appreciate or depreciate in regards to Bitcoin’s, the ZIL coin price is no different. In regards to Bitcoin, the ZIL coin may take different approaches.
One
of the approaches is that the ZIL coin price will appreciate along as the price
of Bitcoin appreciates. Secondly, as the price of Bitcoin falls, it will go
down with it. The third approach, although possible, it is very unlikely that as
the price of Bitcoin falls, the ZIL coin price will defy the fall and
appreciate. If Bitcoin moves sideways, the ZIL coin price is also likely to
take note and follow suit.
Top platforms specializing in crypto price predictions have not left the ZIL coin price behind. For example, Trading Beasts anticipates that the price of ZIL coin might close the year at 0.08 U.S dollars. Global Coin Report, another platform forecasting the prices of cryptocurrencies, has captured the ZIL coin price at $1 by year-end.
Another
platform, Bein In Crypto, is not very
bullish at the future of the ZIL coin price. It estimates that ZIL coin can
only go as far as 0.09 U.S dollars if it really keeps up the high spirits. If ZIL
coin loses the momentum somewhere between now and the end of the year, it is capable of closing 2019 at 0.02 U.S
dollars.
Conclusion
The
cryptocurrency market as with other markets is
run by the energy around a certain crypto asset. It has been believed that if
you are keen on making profits in the crypto market, you have to buy a coin
when the rumors are still doing the rounds. Then when the actual news is out,
you sell.
This
is pegged on the fact that the price of a coin will appreciate when major news
hit the market. This can include a major partnership, etc.
The
ZIL coin price has not been an exception. However, for ZIL coin to be a
meaningful addition to your portfolio, for now, you have to be interested in
the long term benefits rather than instant profits.
Be the first to comment