In the next 24-hours, Zilliqa (ZIL) will be listed on the Upbit BTC market alongside a host of other tokens. This is in line with the following announcement that Upbit posted on their page yesterday.
Zilliqa (ZIL), Moss Coin (MOC), Pundi X (NPXS) will be listed on BTC market tomorrow (9th Nov 2018) OST (OST). Deposit of those tokens is available now.
This could have a significant impact on the value of Zilliqa in the short-term. That’s because Upbit accounts for a significant amount of Zilliqa’s daily volumes, about 10% of its trading volumes, to be precise. As such, by getting paired against bitcoin (BTC), its trading volumes will increase, and it could positively impact the value of this crypto.
But even after the pump that is likely to come after this listing, Zilliqa has the fundamentals to see it close the year in the green. That’s because it has major news coming up by end of the year. Zilliqa has been making good progress in the last one year, and it will be launching its mainnet at the end of the year. As per the Zilliqa team, everything towards this mainnet launch is on track. Actually, today they have announced that the testnet will be released for external miners towards the end of November. Here is the twitter link to this announcement.
Once launched, it could mark the beginning of the adoption of the Zilliqa blockchain, something that could see its value rise significantly. Zilliqa has got it right on scalability by using Sharding. It has been shown to exceed 2000 transaction per seconds in tests and can achieve even more. Considering that scalability is the main challenge for platform blockchains, Zilliqa stands a good chance at adoption and value growth.
More short-term, Zilliqa (ZIL) has not been performing well in the day. This can be attributed to underperformance in the entire market. In the last 48-hours, it has dropped from $0.037 to $0.0342. However, in the last one hour, bulls have put up a fight and there is a tie between bulls and bears. This is mainly because of the latest announcement about the testnet coming up towards the end of November.
If bulls take control of the market at this point, they could push it to the 48-hour high of $0.037. More momentum could see bulls drive up the market, above $0.0385.
Long-term, Zilliqa is one of the few cryptos that stand a good chance of pushing above their all-time highs before the end of 2018. The mainnet is on track, and there is a possibility that bitcoin (BTC) could give it a major boost in price. Bitcoin has established support at $6400 and it is slowly making gains from this point. This means that there is a good possibility that Bitcoin (BTC) could turn bullish from this point onwards. In the scenario that bitcoin breaks above $10,000 by the end of the year, it could be a huge boost for Zilliqa due to its upcoming mainnet launch towards the end of the year. It’s probably a good time to be involved in Zilliqa.