Zilliqa Buckling Up For A Breakout Above $0.07 This Quarter, Will These Factors Propel ZIL Price?

The post Zilliqa Buckling Up For A Breakout Above $0.07 This Quarter, Will These Factors Propel ZIL Price? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The crypto-verse has risen to greener days, as a majority of the crypto assets from the marketplace continue to portray impressive gains. While mainstream cryptocurrencies have been scripting healthier gains. Projects revolving around the metaverse have been sailing against the wind. Wherefore the market capitalization faces a dip of 1.44%.

Successively, Zilliqa, a protocol well known for its metaverse project “Metapolis”, is back to glimmer. With talks revolving around Metapolis, upgrades, metrics, and future prospects. While, netizens ponder over the bland price action, despite the virtues in its hand. ZIL price is inches on the verge of breaking through its eternal-like triangle pattern.

Will Zilliqa’s Pandora Box Open Doors To A 80% Price Rise?

The mushrooming world of metaverse houses elements such as digital currency, social events, marketplaces, NFTs, infrastructure, social media, amongst others. While the aim of the metaverse is to unite these elements. Most of the metaverses hold limited functionality. Being built for interoperability Zilliqa’s Metapolis addresses these limitations.

Zilliqa’s key plans for the first and second quarter revolves around Metapolis and Rialto. Successively, the Metapolis team has been contributing immense progress on all fronts. That includes the User interface, E-commerce, Web/AR, Metapolis and Zilliqa city roadmap, Integration of NFT marketplace, Donations, amongst others. 

The team has recently introduced ZRC-7 the metadata standard from Zilliqa for the NFT and creator economy. ZRC-7 is compatible with both ZRC-1 and ZRC-6 NFT standards, it is designed to cater to any future NFT standards. While the NFT space has been lacking uniformity, the upgrade provides a standard on how to structure such metadata on off-chain storage.

Talking about metrics, the average daily transaction count on Zilliqa the previous month was 55,556 Tx/day. While for the current month, it’s up to an average of 63,293 Tx/day. In contrast, XT.com exchange which is the world’s first social infused exchange has listed ZIL/USDT pair, in its metaverse “Innovation Zone”.

Is This Where Zilliqa (ZIL) Price Is Heading?

ZIL at the time of press is changing hands at $0.0555 with a dip of 2.7% over the previous day. Whilst the market cap of the digital asset is hovering at about $772,349,454, the volume of trades around the clock is at $86,406,295. ZIL price has been ranging in the bandwidth from the lows of $0.0549 to the highs of $0.0590.

The digital asset is inching closer to breaking above the biggest triangle pattern, which has been in existence since May of 2021. A breakthrough the barriers would take the asset for a run to the cliff. Traders in the space have been pondering over the sluggish price projections of ZIL, which is about 78.3% below its ATH. And the YTD returns are negative by 26.5%.

Summing up, Zilliqa with its Metapolis, metrics, and vision has been buckling up to emerge as a potential contender against major rivals. Sections believe, the lack of exposure to be one of the reasons for the sluggish price action.

Moreover, a delay over its metaverse is also expected to be one of the rationales. Which might be refuted following a break above the triangle pattern. Zilliqa in a longer time frame will be challenging major industry rivals.