Metaverse is the most hyped topic of 2022 and Metapolis is one of the most anticipated projects of this spring. After the announcement of its official launch, the price of the ZIL token quadrupled in just a week. The market analysts believe the token might gain even more value in the nearby future. Read our Zilliqa coin price prediction to stay aware of the market changes.
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Zilliqa Fundamental Analysis
Zilliqa is a smart-contract blockchain platform initially designed to scale thousands of transactions per second. To improve blockchains' scalability and speed Zilliqa utilizes sharding as a second layer scaling solution. With the development of the technological stack, the vision of the project moved towards Web3.
The project started in 2017 when the development team started to work on the platform. Zilliqa's testnet went live in March 2018 and in June 2019 the mainnet was launched. The project calls itself the first in the world public blockchain that entirely relies on the sharding network. Zilliqa aims to become a number-one choice for the big enterprise companies including the ones in gaming, entertainment, finances, and advertising.
Elliptic-curved cryptography is used to secure Zilliqa’s consensus protocol and allow the multi signatures. The network utilizes the proof-of-work mechanism to assign node identities and generate shards.
The platform has its own programming language called Scilla, which helps guarantee the safety of smart contracts. It was the first peer-reviewed smart contract programming language that entered the production platform.
Currently, the network runs millions of transactions each month and continues to scale, with the number of blocks produced daily reaching 2500. Zilliqa is also about to release its Metaverse called Metapolis on April 2. The company promises to offer new ways of engagement for both the virtual and digital worlds.
ZIL is a native token of the Zilliqa blockchain. First, it was launched as an ERC-20 token, but in 2019 when Zilliqa went live on the mainnet all the tokens were transferred there during the token swap event that concluded in February 2020.
Zilliqa Live Price Chart
2021 wasn’t a very successful year for the Zilliqa coin. After the bull run during the spring of 2021, when ZIL price managed to reach $0.23, the token price started to fall into the downtrend. First, it was pulled off to a level of $0.13 at the beginning of May and later continued to fall.
By the middle of June ZIL was traded for $0.09 and then dropped even more, going deeper to $0.06. Later that month the coin recovered and fell again, this time trading for $0.05.
At the end of July, the asset started to show the first signs of recovery, and the ZIL token started to grow again together with the rest of the crypto market. The coin was on the uptrend till the beginning of September when it reached $0.13. After that, the price started to shrink again. And by the end of September ZIL was pulled off back to $0.07.
When the crypto market went into a significant uptrend in October ZIL stayed relatively stable bouncing between $0.09-$0.11, but at the end of autumn, the ZIL crypto price chart went bearish again. By December 20 the price reached $0.05, then went up to $0.07 at the beginning of 2022 but then continued collapsing.
At the end of February ZIL was trading for $0.04 and wasn’t showing any signs of going bullish. But as soon as the launch of Metapolis was announced the prices of the Zilliqa coin skyrocketed. In a matter of a week, the asset gained over 350%, reaching $0.18. The experts think that that’s just the beginning of ZIL’s bull rally and expect the token price to go up when the Metaverse is finally out.