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Is this an end to the downtrend in ‘ZIL’? (Zilliqa Price Analysis)

Zilliqa is a blockchain initiative that aims to assist developers in creating high-quality decentralised apps such as DeFi and Non-Fungible Tokens (NFT). Zilliqa brings sharding theory to life by creating a protocol that overcomes the scalability limitations of some current blockchains. Due to the network’s sharded design, concurrent chains may process transactions simultaneously, thus increasing the network’s overall capacity. Sharding enables the platform to grow and fulfil the demand of its miners by giving them rewards. 

The primary goal in creating this solution was to create a platform capable of executing smart contracts on a large scale without jeopardising core blockchain principles such as decentralised node management. The greatest features, according to developers, are the sharding algorithm, the schnorr signature, and Scilla. Transaction costs are likely to drop under this system because of Zilliqa’s much higher operational capacity than Bitcoin or Ethereum. The estimated cost of a Zilliqa transaction is $0.000023, compared to $1.79 for Bitcoin and $0.016 for Ethereum.

While Zilliqa token has gotten favourable reviews, developer adoption has been very restricted. Also, the majority of them choose popular initiatives like Ethereum and Polkadot Ecosystem. Thus, on the occasion of the project’s fourth anniversary, we’d examine how it’s doing today and consider where it might go.

Recently, Zilliqa’s price has suffered due to the cryptocurrency ecosystem’s general deterioration in prices. Recently, Bitcoin and other cryptocurrencies have underperformed. This is partially due to widespread concern about rising interest rates and regulatory restrictions. The graphic above depicts the past week’s heatmap for Bitcoin and the other main cryptocurrencies. As can be seen, almost all of the major currencies were in the red, indicating a decline in value.

The [chart](https://tradersofcrypto.com/news/wp-content/uploads/2021/07/Screenshot-2021-07-17-at-1.05.28-AM.png) illustrates the price of Zilliqa over time since it entered the trading landscape. Despite its ups and downs, Zilliqa was a profitable venture for early adopters and those who invested from the start. Those who invested later have also benefited from strong returns, as Zilliqa (ZIL) maintained a constant upward trend until it peaked in March 2021. Later in the game, it lost momentum and continued downhill, making lower lows. Where Could It Go From Here? [Read Full Story](https://tradersofcrypto.com/news/zilliqa-price-analysis-is-this-an-end-to-the-downtrend-in-zil/)

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