Zilliqa (ZIL) is one of the better performers in the day, even as the market experiences sluggish performance, due to low volumes. Zilliqa (ZIL)’s position in the market has been strengthened by the updates that their team has made public.
One of the updates they have released is the expansion to Europe. The team has announced that they have opened an office in London and will be launching a series of events in Europe. This is a big deal because Europe is one of the biggest markets for crypto. For a platform blockchain like Zilliqa (ZIL), Europe is an important market because it has the technological infrastructure. That is in terms of companies that require scalable decentralized solutions for their businesses.
In essence, by making a push into Europe, Zilliqa’s intrinsic value is set to increase over time, and the market is already factoring this in, as can be seen in ZIL’s price today. If European companies begin adopting the Zilliqa blockchain within this quarter, it will without a doubt add to the intrinsic value of this blockchain and could see it surge in value all the way into 2019.
The Zilliqa team also announced that they were giving back to the society by sponsoring the crystal center, a think tank at the national university of Singapore. Crystal center will be focused on blockchain technology research. While this project is Zilliqa’s way of giving back, the research that will come out of it will have wide ranging implications for Zilliqa (ZIL). It could unlock new avenues for Zilliqa, and this will have a huge impact on its long-term value.
The two announcements above come after Zilliqa announced that they now have partnerships with DMM and LayerX, partnerships that are geared towards pushing up the adoption of Zilliqa amongst Japanese developers. This is a big deal given that Japan is an important market in the blockchain space. The fact that Zilliqa is making moves into this market is a good sign for its future, and this will continue to reflect in its price both in the short-term and in the long-run.
All the above factors are strong market drivers and will give Zilliqa the impetus to grow all through Q4. However, the icing on the cake will be the upcoming main net launch that is scheduled to take place either later this quarter in December or in early 2019.
Once the main net is launched, Zilliqa stands to gain by triple digit percentages. That’s because on top of the above developments, Zilliqa also happens to have solved the scalability issue, through Sharding. Essentially this means that all kinds of Dapps can be launched on the Zilliqa blockchain without any inefficiencies to the network. Since scalability is a huge bottleneck for most blockchains including Ethereum (ETH), it then goes without saying that Zilliqa (ZIL) could see an upsurge in Dapps once the mainnet is launched. This guarantees long-term growth as developers build on it for its efficiency.
Looking at Zilliqa (ZIL) in the day, it has hit a high of $0.037 within the last 24 hours. It has since retraced to la ow of $0.0367, which is now offering strong support. If it gains momentum at this point, and it is already doing so, it could hit a high of $0.051. That’s the 100-day moving average resistance level in the day, one that would a good exit point in the next 24 hours.