Crypto is on a roll, like an unstoppable freight train. More people want to get a piece of the cake.
Over the past few months, altcoins have been printing 20X or 50X in some cases. There are tokens—especially in DeFi that outperform Bitcoin several folds. Amid this eruption–of prices and interest, the investment community has been flocking to Zilliqa, yearning for more.
Think about it, crypto is good (even attractive), but Blockchain (the heartbeat) is even better. The good news for everyone is that crypto is just one of the many possible blockchain applications as a technology.
Therefore, how this sector succeeds depends on how best Blockchain can handle demand from users. Bitcoin and Ethereum have well-documented scalability problems.
For this, many are angling on Zilliqa, checking whether ZIL’s superb trend of 2020 and early 2021 will continue.
In this article, you’ll not only find helpful information on Zilliqa but other data that has caused many analysts to make Zilliqa price predictions for 2021.
We’ll lay out everything on the table in a simple to understand manner; you won’t miss a thing.
So, first things first:
What is Zilliqa?
Above everything else, Zilliqa is a blockchain. That means transactions are packaged in blocks and confirmed. You’ll expect the same to happen in Ethereum, Bitcoin, and most crypto projects in the top-100.
However, what differentiates Zilliqa from the rest is its approach to scalability. To simplify, scalability is the ability of a network to handle a deluge of transactions without slowing down. The higher the throughput, the more scalable the network. For example, Bitcoin processes a mere 7 TPS—meanwhile, Visa (a centralized alternative does over 2k TPS). Accordingly, and in the above rationale, Visa is over 20X scalable than Bitcoin.
Earlier, we have seen how impactful the lack of scalability is for typical public blockchains. With low scalability, there are high fees, light dApps, and options of layer-2—calling into question subsequent security of transactions processed through these channels.
What makes most analysts make optimistic Zilliqa price predictions for 2021, especially in the age of crypto adoption, is the project’s approach to adoption by resolving scalability challenges.
Zilliqa rightfully takes the Sharding crown. Ethereum is trying a similar approach—most of it, however, remains theoretical. On the other hand, Zilliqa has implemented Sharding as one of its primary means of scaling. Here, the Zilliqa network operates into groups called shards—work like mini-blockchains.
Each shard has over 600 nodes and can individually—while communicating with other shards, process transactions. As such, Zilliqa can scale even as the number of transactions—or usage, increase.
Zilliqa is a third-gen network promising an unparalleled throughput while concurrently chopping transaction costs.
To resolve potential communication problems, more than half of all nodes must agree that a transaction is valid. For this, they use the Practical Byzantine Fault Tolerance (PBFT) and Proof-of-Work, a hybrid consensus algorithm, complete with collective signing. The result is a network that can process over 2.5k transactions per second–or better directly proportional to the number of operational nodes.
Why Analysts Make Bullish Zilliqa Price predictions for 2021?
Some projects claim to be revolutionary, making claims only with glossy whitepapers but fail to execute.
Zilliqa is walking the talk and has the mainnet operational—launching in late January 2019. Their project is not vaporware. They have demonstrated this and put into use the $22 million they raised from their 2017 ICO.
Again, the investment community is also watching veteran developers behind the project. The team comprises some of the best minds in the crypto space—from the National University of Singapore research, working on resolving major pain-points in crypto and Blockchain: Scalability and security.
Compared to competing solutions like EOS and NEO, Zilliqa has emphasized decentralization, where ZIL—the native currency, is helpful in governance (gZIL). Their hybrid consensus algorithm means control is in the hands of node operators distributed across the world. Also, IOTA—which is infinitely scalable, might be a competitor, but DAG—critics say, is not battle-tested and therefore not comfortably secure. PBFT systems have so far proven to be hacker-proof.
Zilliqa supporters are optimistic the future belongs to them thanks in part to what Zilliqa as a scalable network present. Aforementioned, high throughput of over 2.5k means the network can scale linearly. A scalable platform keeps the cost of launching dApps lower, a problem Ethereum struggles with. Moreover, Zilliqa is presenting a practical solution for dApp developers with smart contracting support. These contracts will be written in non-Turing complete language—Scilla–meaning they are easy to write and deploy.
Zilliqa and DeFi
Amid the DeFi explosion, Zilliqa said it would be offering non-custodial staking services via Zillion and reducing the number of Zilliqa controlled nodes from 520 to 250 following Zilliqa v.6.2 release. This is unique because most staking operators are custodial. Because of how attractive the solution is, over 25 percent of ZIL’s total supply was staked within the first one hour. This is not forgetting the launch of Zilswap, already outperforming 1Inch and other leading DEXes’ trading volumes.
In Mar 2021, Zilliqa launched a $5 million to fund projects launching on its platform. Initially, they would channel between $50k to $500k in 15 vetted projects in exchange for equity, tokens, or both via the ZILHive—in charge of growing the Zilliqa ecosystem.
Zilliqa (ZIL) Price Performance Thus Far
Admittedly, business has been good for crypto projects and savvy holders. If Bitcoin rose to over $60k, a 3X increase in three months, Zilliqa is, well, on another level of rallying.
Numbers don’t lie.
ZIL’s performance has been off the charts. A 50X on a year-on-year basis, outperforming Bitcoin and Ethereum, explains why traders continue to expect more upsides, posting bullish Zilliqa price forecast.
The good news is that the ceiling is not a limit. Thus, ZIL can soar to a new all-time high in 2021 if it builds on 2020’s rapid gains. There is a scramble for energy-efficiency, low costs, scalability, and platforms that can handle intensive dApps.
Zilliqa has all those hallmarks; enough reasons supporting positive ZIL/USD price predictions.
If this is true, what are the comments from leading analysts?
Twitter and Reddit Zilliqa Price Predictions For 2021
Price charts show one thing: ZIL rose 50X from 2020 lows to around $0.17 as of mid-Mar 2021. It doesn’t show us where future prices will be. That’s a task Twitterati expert ZIL price forecasts come to play. If anything, they are confident of the future.
One supporter going by the handle, Morty Trading, carried out a survey asking the community about their thoughts on ZIL. The consensus was that the ZIL/USD price would reach between $1 and $3 by the end of 2021. That’s, on average, a 10X from spot rates.
#zilliqa price prediction by EOY
— Zilliqa Morty (@MortyTrading) March 12, 2021
Another confident ZIL supporter, Jonty Quenet, places his target between $2 and $3 by the end of the year. He wants to see a ZIL mooning.
$3-$5 is my target 🚀🚀 #ZIL to the moon 🚀
— Jonty (@jontyQuenet) March 15, 2021
In Reddit, one analyst put out an “educated” ZIL price prediction for 2021. He identifies several factors that may see the ZIL price tear higher. One of them is the state of DeFi in Zilliqa.
The success of Zilswap would be measured by its TVL. If it rises, it means more investors are flowing to the space, utilizing open finance dApps in the Zilliqa network.
Confidence is in the launch of ETH Bridge and the Pillar protocol in H2 2021.
As such, his ZIL forecast for 2021 is a fluid range of between $1 and $2.
YouTube Zilliqa Price Predictions for 2021
YouTube is a giant social media platform packed with channels where successful analysts and traders often air their views on different digital assets.
Accordingly, the success of crypto—and Bitcoin, turbocharging altcoins’ performance, didn’t escape their eyes. Zilliqa talks and price forecasts dominate, conveyed in relatable forms: Video.
And there are tons of them.
Most are bullish, making price predictions of over $1 by the end of the year based on various fundamentals and technical factors.
For instance, Crypto Mobster thinks ZIL will utterly kill it in 2021. The reason? Well, there are a ton. One, however, stands out: the release of its Ethereum Bridge. This is massive. Remember, the project was released at the wrong time, the crypto winter of 2018.
Nonetheless, they continued to build. DeFi is the main buzz right now, and connecting with Ethereum provides the fuel for a ZIL fly to $1.8 by the end of 2021. There is Zilswap, a connection to Polygon, and so much more.
The Crypto Empire analyst also shares the same line of thought, saying ZIL could easily tear higher for another 10X in addition to the 50X year-to-date. As a result, he places his Zilliqa price prediction for 2021 at over $2.
His fundamentals: Adoption, an experienced team, and its vibrant ecosystem.
Conclusion: Is Zilliqa (ZIL) Worth It?
Is Zilliqa worth it? Investors and traders can’t help but ask.
Zilliqa is a product with its mainnet and has an active community, a transparent team, and a vibrant dApp ecosystem.
There is DeFi, asset tokenization, and so much more.
With ZIL being the center of operation, investors are pouring in, hoping to make profits like they did if they bought and held in the last few months.
Judging from comments and forecasts on Zilliqa price predictions for 2021 by most analysts on Twitter, Reddit, and YouTube, they expect the ZIL price to soar above $1 this year.
It did a 50X in 2020, and a 10X would squarely place prices within the range of most Zilliqa analysts’ predictions.
In the first half of 2021, the team will continue building, improving on their DEX, and launching more bridges to Ethereum, Polygon, NEO, Ontology, and to more smart contracting networks. It is on top of Zilliqa’s funding of projects planning to build on Zilliqa, the growing adoption of DeFi, and much more.
This is not investment advice. Therefore, do your due diligence before investing!
Synthetix (SNX), UTrust (UTK), and Holochain (HOT) Price Analysis for Apr 12
Polygon (MATIC), Cosmos (ATOM), and Zilliqa (ZIL) Price Prediction for Apr 9
Is Decentraland (MANA) a Good Investment?
Is Reef Finance (REEF) a Good Investment?
Icon (ICX), DigiByte (DGB), and NULS Price Analysis—Apr 8
Is BTT a Good Investment?
Fantom (FTM) Price Prediction for 2021
Bitcoin Price corrects 8% from $60k as BTC/USD Bulls Target $93k
Aion Price Prediction for 2021
DigiByte Price Prediction for 2021
ICON (ICX) Price Predictions for 2021
Holochain (HOT) Price Prediction For 2021
Learn5 months ago
Is Polkadot (DOT) A Good Investment?
News5 months ago
How Will Bitcoin React if Either Trump or Biden Wins?
Price Analysis5 months ago
Bitcoin Price Prediction: China FUD, Path back to $13k or $20k?
Learn4 months ago
Yearn Finance Explained: A Simplified Guide to YFI
Price Analysis5 months ago
Synthetix (SNX) Price Analysis: Bulls Aiming at $6 after Closing above Last Week’s high
Price Analysis4 months ago
How The “Easiest Bitcoin Short of Our Lives” Turned Sour