The past month or so has seen the cryptocurrency market witness significant turbulence, with several prominent cryptocurrencies posting their biggest drops in over two months. To elaborate, the downturn seems to be part of a broader trend, with a gauge of the top 100 digital assets falling about 5% in the week ending June 23, the steepest such slide since April.
The market’s struggles can be attributed to several factors, including cooling demand for Bitcoin exchange-traded funds (ETF), pervading uncertainty over global monetary policies, and the announcement of repayments from the Mt. Gox rehabilitation trustee. Not only that, over $210 million worth of bullish crypto bets were liquidated in just 12 hours, further reflecting the intensity of the ongoing sell-off.
Moreover, Bitcoin investment products also saw around $600 million in outflows for two consecutive weeks, the most over a two-week period since the US government approved BTC ETFs. Despite these challenging market conditions, some projects continued to make significant strides, with one such offering being ZIGChain. Over the past year, ZIGChain’s native token, $ZIG, outperformed the market by a significant margin, growing by an impressive 1788% during the aforementioned period.
$ZIG’s price rise over the past year (source: CoinGecko)
This remarkable growth is further bolstered by key ecosystem metrics, including over 30,000 on-chain $ZIG holders, a user base of 500,000+ generating millions in profits, and partnerships with industry leaders like DWF Labs & UDHC Finance.
Building a holistic crypto ecosystem
In a major development, ZIGChain recently announced its partnership with Enjinstarter, a leading launchpad specializing in Web3 gaming, artificial intelligence (AI), and decentralized physical infrastructure networks (DePin). The latter has integrated ZIGChain into its existing digital framework, empowering quality projects to achieve smooth Go-to-Market (GTM) transitions as well as successful fundraisers — thereby helping $ZIG’s value soar in the process.
Additionally, ZIGChain is integrating evmOS, a source-available framework for building customizable/interoperable Proof-of-Stake (PoS) blockchains. This integration brings Ethereum Virtual Machine (EVM) compatibility to ZIGChain, offering developers easy integrations, a robust architecture, ready-to-use IBC connections, and dynamic smart contract capabilities.
From the outside looking in, the partnership stands to significantly enhance ZIGChain’s appeal for developers, allowing them to create sophisticated investment management tools and wealth generation protocols seamlessly.
In addition to these major partnerships, ZIGChain has formed strategic alliances with several other key players in the blockchain space. For instance, its partnership with Leap, the Cosmos ecosystem’s largest wallet provider, enables high-quality crypto storage solutions for ZIGChain-based dApps and projects.
Similarly, its partnership with XSwap, a leading cross-chain trading ecosystem powered by Chainlink, seeks to facilitate the creation of wealth generation infrastructure possibilities. Lastly, its collaboration with SpectreAI, an AI platform for blockchains, will provide powerful sentiment analysis tools to ZIGChain’s 500,000+ user base.
Looking toward a financially sound future with $ZIG
As the $ZIG ecosystem continues to innovate, it is set to expand its existing capabilities and attract innovative projects. To this point, as part of its first ‘Buyback & Burn’ program that concluded recently, over $58,000 worth of $ZIG (625,000+ tokens) were burned. At this rate, ZIGChain is primed to burn approximately $1.5 million worth of ZIG annually, reinforcing its deflationary token model.
To support developers building on the platform, ZIGChain has established a $100 million fund — in partnership with DWF Labs — accelerating ecosystem growth and innovation. Thus, backed by a robust network ready to build on, the project, alongside its native digital asset ($ZIG), stands poised to impact millions of lives by providing accessible and innovative investment opportunities.
By facilitating the integration of Web2 and Web3 technologies through account abstraction (AA) and gas compression, ZIGChain is breaking down barriers and making wealth-generation opportunities accessible to all. Looking ahead, it is reasonable to assume that we are in for some interesting times!