We usually know that passive profit is made by investing dollars in treasury bills even in the world of crypto. But is it possible to achieve passive profit from trading? Today we will learn how to use copy trading to make profits through the Zig currency project, the well-known Zignaly project. Let's learn more about the story of this project and its price expectations.
In this article
What is Zig Coin Project?
Why is the project famous in 2023?
Designing a token economy for the currency
ZIG Coin Price Analysis and Forecast
What is Zig Coin Project?
ZIG or Zignaly coin project is a project built on the Ethereum blockchain. The project is a copy trading platform. Copy trading is available on many centralized trading platforms, but this platform is dedicated only to this method of trading. On this platform, traders apply to join it and after monitoring their performance and passing the tests, they are listed on the platform. After that, you enter the platform and create an account and after going through the Know Your Customer or KYC procedures, you will be able to choose the trader you want to copy his trading.
Simply, you will choose the trader and choose the amount of capital you want to allocate to invest in this trader, and after that, you will copy the trader’s trading movements. If he wins, you will win, but if he loses, you will also lose. The platform here takes a small portion of your profits as fees, and it is a safe platform because it relies on Binance to store users’ currencies. There is no minimum limit for using the platform, just charge your account on it, and after that, you will be able to invest with the utmost ease. The project uses a technology known as Zscore to analyze the performance of traders and their acceptance on the platform, and this technology is based on artificial intelligence.
Why is the project famous in 2023?
In 2023, after the large accounts on the X platform began to support the ZIG coin project strongly, especially in the last quarter of the year. This is due to the ability of traders to make profits on the platform, and some investors were also able to obtain a return of up to 40% annually on their investments on the platform. This is considered a very good thing. As a result, the platform and its ZIG coin became very famous, even increasing strongly during the last months of 2023. The ZIG coin has been listed on the platforms since approximately 2021, which means that the project is not old and has witnessed the great collapse of 2022 and succeeded in passing through it safely, and this is a good sign.
The founder of the project is also an active trader on the X platform and has a good relationship with crypto celebrities, which is very important. Founders who know the world of crypto and its secrets always succeed in their projects because they have a good reputation. Here we notice that the project has all the necessary factors for success:
Excellent founder and team
Strong coin with strong price performance.
Fame and community support on X platform
Powerful benefit
All these factors were tools to push the project forward and grow sustainably in the previous period, so much so that the team decided to expand the project. A blockchain was built specifically to develop the project and push it to the next stage, in which huge funds from fund managers will be invested. This step was taken in order to benefit from the entry of Wall Street giants into the crypto market. Undoubtedly, this step will make the project one of the most successful crypto projects in the future if done carefully.
Designing a token economy for the currency
The ZIG coin project is based on trading to generate income. The ZIG coin is the main currency of the project and will also become the main currency of the new blockchain being developed. This coin allows its holders to pledge shares in order to get a portion of the project’s profits by staking shares. This feature greatly increases the value of the coin.
As for the design of the token economy, the maximum coin supply is 2 billion coins, and a small portion of them have been burned. There is a burning mechanism that seeks to burn about 50% of the supply in the long term. About 27% has been allocated to the project team, and their distribution began at the beginning of this year and will continue for three years, so there will be inflationary pressure, but we do not expect it to affect the rise of the ZIG coin in 2025 if the expected bull market occurs. 35% has been allocated to the project treasury, and so far it is not clear what these coins will be used for. 30% of the coins were listed in the markets, but this percentage has increased strongly recently, as more than 65% of the coins are now offered in the markets. There is a 5% percentage allocated to provide the necessary liquidity on centralized platforms, and currently the coin is listed on the Bybit, Mix C, and Woo x platforms, but it is expected to be listed on other platforms in the future.
ZIG Coin Price Analysis and Forecast
Currently, the market value of the project is around $129 million, which means that there is a possibility for the ZIG coin project to grow significantly. Our expectations regarding this project are that the $1 billion barrier will be broken as a market value, which may make the price range between $0.9 and $1. But if you have invested in this project in 2023, we expect that you will reap some profits in the next upward wave.
If we look at the weekly chart below, you will find that the price movement of the coin is very strong and the upward wave since listing on centralized platforms is above excellent.
The price is currently fluctuating in a channel since March, but we expect this channel to be broken upwards, not downwards. This is due to the team’s efforts to continuously develop the project and create a strong community that supports the currency on social media.
Therefore, we expect the price to break this channel and rise towards $0.2 during the last quarter of 2024 if Bitcoin starts to rise, of course. However, if Bitcoin fails to achieve the rise, we can expect support at the $0.7 area for ZIG. Always remember that the ZIG project is part of the altcoins, which means that it is a high-risk project due to the very high volatility of this market.
