Zilliqa mainnet activates its long-awaited Ethereum Virtual Machine compatibility upgrade on Tuesday, April 25. 

Features include faster transactions, native transfer of tokens without conversion and better scalability. 

ZIL price nosedived to $0.029, bulls are closely watching the EVM event to trigger likely recovery in the token. 

Zilliqa, a high-throughput blockchain is set to activate its Ethereum Virtual Machine (EVM) compatibility on Tuesday. Through this update, the project will enable several key features like faster transaction processing, native transfer of tokens without conversion and higher decentralization. 

ZIL price yielded nearly 5% losses for holders overnight, it remains to be seen whether the EVM upgrade acts as a catalyst for the token’s recovery. 

Zilliqa development team has announced the arrival of Zilliqa 2.0 with the upcoming EVM upgrade on Tuesday. The upgrade will activate the blockchain’s compatibility with EVM and this will allow traders to transfer tokens without converting them, cutting out complex processes. 

According to ZIL’s official blog post, EVM compatibility will make it easier for traders transferring Non Fungible Tokens (NFTs) between the EVM and Scilla interfaces. Currently, transactions on Zilliqa take up to two minutes and the upgrade could cut waiting time from two to five seconds. 

The team is looking at reducing downtime for network upgrades and boosting the user experience for both developers and users. 

ZIL price wiped out its recent gains from the past two weeks. The token has yielded nearly 5% losses for holders overnight. ZIL holders are closely watching the EVM compatibility upgrade to determine whether it can act as a bullish catalyst for the token’s price. 

Interestingly, there was a notable decline in the social dominance of ZIL, implying that the token is not a “topic of interest” or being actively discussed on social media platforms. 

If social dominance nosedives lower, the EVM upgrade could turn out to be a non-event for ZIL and the token could continue to bleed. Crypto experts at World of Charts believe ZIL is prepared to break out of its multi-month downtrend and the asset is set to hit a bullish target of $0.085, as seen in the chart below. 

ZIL price needs to close above the trendline on the one-day price chart, to validate the expert’s bullish thesis. 

Failure to breach the trendline could invalidate the bullish thesis and result in further consolidation in ZIL. The bullish target of $0.085 was previously breached between April and May 2022. For evidence, traders could identify a breakout bar to confirm the thesis. Three green bars in succession could help affirm the bullish breakout theory for ZIL price. 

#Binance #BTC #crypto2023 #zil #zilliqa

Zilliqa price tanked 15% after it peaked Wednesday.

ZIL is nearing vital support that will keep this rally alive.

Expect to see a test and bounce higher for ZIL.

Zilliqa (ZIL) price sees bulls taking a step back as they show some fatigue in their rally that has been ongoing since March. Although a 15% slide looks threatening and scary, the rally is still in good health and shows no signs of ending anytime soon. With the Relative Strength Index (RSI) nosediving, the next bullish spike could be the one that takes out $0.037 and lifts profit by over 20%.

Zilliqa price has bulls taking a small pause before picking up pace again

Zilliqa price is undergoing quite a fade after price action peaked near $0.036 and did not make it up toward $0.037 for a retest of the high of February. Instead, a big fade got underway that is currently trading over 13% to the downside. With that sell-off, the RSI is taking a plunge as well and is already below 50, heading toward  oversold territory. 

ZIL sees perfect momentum being created for a new spike higher as support is set to come in at the green ascending trend line near $0.030. Even if that level does not hold, the pivotal historical level at $0.029 and the 55-day Simple Moving Average (SMA) can do the trick. The quick spike up could be proven an even bigger one on Tuesday and might take out $0.037 with a 20% gain in the pocket.

The threat of more losses could come if even that 55-day SMA does not hold the line near $0.029. That 13% loss could double to near 30% if the 200-day SMA at $0.026 fails to step in and save the day, while $0.023 would be catastrophic for bulls. In case ZIL tanks all the way toward there, that means a 40% sell-off as bulls are squeezed out of their position.

#Binance #crypto2023 #zilliqa #zil #BullRun

Amid the bearish trend that suppressed several coin prices, including Bitcoin, the Zilliqa token emerged among the gainers. Zilliqa secured first place among top-gaining coins in the bearish cryptocurrency market with a 9% uptrend over the past 24 hours.

This price move follows a network performance statistics update shared by a Twitter community member @inna_everstake. According to stats, Zilliqa reached a new milestone in network addresses and daily transactions.

Zilliqa Hits Milestone In Network Activity

Zilliqa is a permissionless public blockchain that offers high transaction throughput. It aims to improve blockchain scalability and speed using sharding as a layer2 scaling solution. 

The Zilliqa network relies on shards to solve scalability issues. Each shard processes transactions independently. The number of transactions increases as the Zilliqa network grows and the number of shards increases.

Related Reading: Shiba Inu (SHIB) Price Momentum Screeches To A Halt: What’s The Outlook?

The recent network performance statistics suggest the Zilliqa network is rapidly growing and has gained more traction. According to the update, Zilliqa recorded 4,582,116 addresses with 47,937,935 transactions and over 5.5 billion staked ZIL tokens. 

The statistics are incredible, given Zilliqa’s position in the cryptocurrency market compared to other Smart Contract platforms like Cardano, Ethereum, and Solana. Another notable fact is that the total addresses recorded participate in active daily transactions.

Zilliqa’s improved performance could be due to the increasing number of new developers coming to build on the network. The Zilliqa ecosystem has been active in running innovative programs that attract new Web3 developers, which is why the network addresses and transactions skyrocketed.

ZIL Price Outlook Amid The Boost In Network Performance

Zilliqa is among the coins with the most dynamic price movement this year. Zilliqa opened in 2023 at $0.01585 but gradually rallied to its current price of $0.0331, a notable increase amid slight pullbacks.

Although ZIL is still 87.33% down from its all-time high price of $0.2563, recorded on May 6, 2021, it has improved considerably since 2020. 

ZIL’s price is over 1,210% higher than its all-time low of $0.002477 on March 13, 2020. At press time, ZIL is trading at $0.331, a 9% price increase from the April 20 closing price of $0.03015.

Related Reading: OKB Tallies 24% Increase But Active Addresses Fail To Keep Pace – Here’s Why

Even ZIL’s trading volume has increased by over 38% from $116.69 million on April 20 to $190.71 million today, April 21. That could be a further confirmation of increased network activity. 

ZIL also recorded a nearly 11% price gain over the past seven days when coins like Bitcoin and Ethereum gave up theirs. The token now has over 12% price increase in the last two weeks.

From the technical perspective, ZIL’s market sentiment is bullish, with the oscillators and moving averages flagging a strong buy signal.

#Binance #crypto2023 #zilliqa #zil #ETH

Zilliqa price surged to the highest point since February 23rd on Wednesday as investors waited for the upcoming EVM launch. ZIL soared to a peak of $0.036, which was about 68% above the year-to-date low. This makes it one of the top-performing cryptocurrencies in the industry. Other altcoins like AltSignals (ASI), Internet Computer (ICP), and Oasis Network are doing well.

Zilliqa EVM launch

Ethereum has grown to be the biggest blockchain for smart contracts globally. This is seen in the rising number of dApps in its ecosystem. For example, in decentralized finance(DeFi), Ethereum has a total value locked (TVL) of over $70 billion and a market dominance of almost 70%.

The same is true in the non-fungible token (NFT) industry, where collections like Bored Ape Yacht Club (BAYC) dominate. On average, Ethereum NFT sales in a 24-hour period are usually above $25 million.

Therefore, there are two main trends in the blockchain industry. First, there is a general move to layer-2 networks, which are sidechains that process Ethereum transactions faster at a a lower cost. Some of the top layer-2 networks in the industry are Cartesi, Optimism, and Arbitrum.

Second, to boost interoperability, many blockchains are launching their Ethereum Virtual Machine (EVM), EVM is a piece of software that executes smart contracts on the Ethereum network. It helps to boost interoperability within different chains. Some of the most popular chains that are working on EVM are IOTA, EOS, and Zilliqa.

The next key Zilliqa news will be the launch of its EVM implementation on mainnet that will happen on April 25th of this year. The implementation will go live at 08:00 UTC time.

Integrating EVM will have numerous benefits for the Zilliqa ecosystem. For example, users will now be able to transfer their native ZILs using popular wallets like MetaMask. Also, developers will be able to deploy Solidity smart contracts.

Zilliqa price prediction

The 4H chart shows that the ZIL price has been in a relentless bull run in the past few weeks. This rally has seen it jump from the year-to-date low of $0.021 to a high of $0.036. It has managed to move above key psychological levels. Most recently, it moved above the key resistance at $0.0328, the highest point on April 2. By moving above that price, the coin invalidated the double-top pattern that was forming.

Zilliqa has moved above all moving averages while oscillators are pointing upwards. Therefore, there is a likelihood that the coin will continue surging as buyers target the next key resistance point at $0.037, the highest point in April this year.

AltSigjnals token sales continues

Another major theme in the world today is artificial intelligence. AI has been called one of the biggest discoveries, in the same lens as fire and tire. Today, AI platforms like Google’s Bard and Microsoft’s Bing have become so powerful that they can write software, compose music, and write stories.

Analysts believe that most industries will be affected by AI in the coming years. For example, it will affect the financial industry by conducting analysis and delivering recommendations. AltSignals is one of the top platforms that is working to implement AI in the industry.

AltSignals is a profitable platform that conducts analysis and sends signals on key assets like forex and cryptocurrencies to people. Now, as part of its growth, the developers are working to integrate AI in its platform in a bid to improve outcomes. AltSignals is highly beloved by its users, as you can read in its Trustpilotrating platform.

As part of this transition, AltSignals is carrying a token sale for ASI. ASI is the token that will power the platform. It will be used to make payments and encourage other participants in the ecosystem. Also, it will be used for voting purposes when the Decentralized Autonomous Organization (DAO) launches.

AltSignals token sale soars

AltSignals’ token sale has been successful. In just a few weeks, the developers have raised over $592k, which is about 54.82% of their goal. With each token going for $0.015, there is a likelihood that demand for the token will continue rising in the coming weeks. You can buy the ASI token here.

Investing in token prsales can be a highly profitable strategy. A good example of this is the recent launch of Metacade, a platform that raised about $16 million in its token sale. A few days after the token launch, the platform is valued at over $25 million, meaning that original buyers have been profitable.

Is ASI a good investment?

The AltSignals white paperhas described how the platform works and what it wants to achieve. And based on the fact that AltSignals is already profitable, I believe that ASI is a good buy. However, as with other cryptocurrencies, there are risks involved, meaning you should work to limit your downside. For example, you should not allocate all your money on ASI or any other coin for that matter.

#zilliqa #zil #crypto2023 #crypto #Binance

BeInCrypto looks at the five biggest altcoin losers in the entire crypto market this week, specifically from April 21 to 28.

The underperforming altcoins that saw prices falling the most in the entire cryptocurrency market this week are:

PancakeSwap (CAKE) price fell by 21.00%

Optimism (OP) price fell by 10.56%

OKB (OKB) price fell by 9.77%

Zilliqa (ZIL) price fell by 9.06%

Synthetix (SNX) price fell by 9.06%

PancakeSwap (CAKE) Price Leads Underperforming Cryptos

The CAKE price has decreased since it broke down from an ascending support line on April 19. Previously, the line had been in place since June 2022. Therefore, the breakdown from it means that the upward movement has ended.

Moreover, the CAKE Price fell below the $3.20 horizontal support area, falling to a new yearly low in the process. Currently, the digital asset trades inside the $2.60 price level support.

CAKE/USDT Daily Chart. Source: TradingView

If the price breaks down, a sharp drop to $0.70 could follow. However, the CAKE token price could revisit the $3.20 area gain if a bounce transpires.

Optimism (OP) Price Trades in Bearish Pattern

The OP price has decreased under a descending resistance line since the beginning of February. More recently, the line caused a rejection on April 15 (red icon).

When combined with the $2.0 horizontal support area, the price action creates a descending triangle, which is considered a bearish pattern. This means that a breakdown from it is the most likely scenario.

OP/USDT Daily Chart. Source: TradingView

If OP breaks down, the next closest support will be at $1.40, created by an ascending support line and horizontal support area. However, if OP bounces, it can reach the resistance line at $2.40.

OKB (OKB) Price Trades in Neutral Pattern

The OKB price has traded inside a symmetrical triangle since Feb. 17. The symmetrical triangle is considered a neutral pattern, meaning that both a breakout and breakdown are possible. Currently, the price trades in the middle of the pattern.

OKB/USDT Daily Chart. Source: TradingView

If the underperforming crypto breaks down, it could fall to the closest support area at $34. However, if a breakout ensues, OKB could reach a new all-time high at $72.

Zilliqa (ZIL) Price Falls From Range High

The ZIL price has decreased since the $0.035 resistance area rejected it on April 27. The area has been in place since September 2022. Therefore, it is a crucial resistance level.

If the decrease continues, the crypto asset could fall to the closest support area at $0.024. However, if the price regains momentum, it could retest the $0.035 area again.

Synthetix (SNX) Risks Breakdown

The SNX price has decreased under a descending resistance line since August 2022. More recently, the line caused a rejection on April 19. Now, the price is trading close to the $2.20 horizontal support area.

SNX/USDT Daily Chart. Source: TradingView

If it breaks down, a drop to $1.40 could follow. However, if SNX bounces, it can reach the resistance line at $2.90.

#cake #snx #zil #okb #op