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Zilliqa (ZIL): Recent Developments, Community, Future Events

CryptocurrencyJul 08, 2021 12:00AM ET
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Zilliqa (ZIL): Recent Developments, Community, Future Events

  • The Zilliqa blockchain has struck a harmonious chord in the Cryptoverse with a series of partnerships and announcements.
  • The network’s recent partnership with the Foreign Exchange Clearing House (FXCH) is intended to facilitate increased adoption for Zilliqa.
  • In a similar development, Zilliqa and Zilliqa Capital have become the latest members of the Chamber of Digital Commerce.
  • At the time of writing, Zilliqa is trading at $0.07807, and upcoming events are indicative of a bullish run in the future.

Zilliqa burst onto the scene in 2019 and was quickly dubbed an Ethereum killer because of the impressive features offered. Zilliqa’s major objective is to solve the issue of scalability that generally plagues blockchains.

In furtherance of this goal, Zilliqa has unveiled key partnerships in order to improve its adoption and provide liquidity for users. The partnership with FXCH and the platform’s inclusion in the Chamber of Digital Commerce has generated great enthusiasm and optimism amongst community members.

Recent Developments: Forging Key Partnerships

Zilliqa understands the power of collaboration and is leveraging it to generate a buzz for its blockchain. The recent partnership with the Foreign Exchange Clearing House underscores this sentiment.

The specifics of the partnership see the FXCH granting liquidity providers and traders in need of credit with ZIL tokens, through a $10 million FX SWAP facility.

Such loan offers would be valid for up to two weeks and are the first of their kind in the FXCH’s history, as the clearinghouse has never offered financial institutions SWAP options for an Altcoin.

Speaking on the partnership, Zilliqa’s president, Amrit Kumar, confidently stated that this “new loan product will make ZIL more accessible for institutional investors” and improve liquidity.

Another positive development to be warmly received by the community is the induction of Zilliqa and Zilliqa Capital into the Chamber of Digital Commerce, a trade association that represents the digital assets and blockchain sectors.

This is a decisive move for the organization that could see Zilliqa’s rapid expansion into US markets. Amrit Kumar beamed that joining the association is a “privilege” and this will “open as many doors” in the North American market.

On the Flipside

  • Zilliqa has fallen by 4.69% over the last 24 hours, settling at $0.07807, which is a far cry from its all-time high.
  • Alongside waning values, trading volumes have also fallen by as much as 27.16%, down to $52.5 million.

Zilliqa: Community

For Zilliqa, their community is the core of the blockchain project. The Zilliqa community is largely composed of developers, miners, and followers who see blockchain technology as a means to a decentralised future.

The community takes education seriously, which has led to the creation of ZILHive Education, a training program for developers and non-developers alike, which offers courses on how to code on Scilla and to build on the Zilliqa blockchain. It also gave rise to the ZILHive Incubator, a virtual training program for entrepreneurs and budding startups.

What Does the Future Hold for Zilliqa?

Zilliqa has a host of projects lined up for the future, the most anticipated of which is the construction of a bridge to Ethereum.

Zilliqa has entered into a partnership with Switcheo to build the ZIL-ETH bridge, which will extend the frontiers of interoperability. With the testnet scheduled to go live soon, the community is eagerly watching on in anticipation.

Zilliqa also has NFT dApps in the works, and projects like the Sparda wallet, ZilFlip, and ZilDuck, among others, all promise a bright future for Zilliqa.

Zilliqa: Performance

Zilliqa reached its all-time high in May at $0.2563, trading now, at the time of writing, at $0.07807. In just 2020, the token was trading at $0.002477, meaning that the asset has made impressive growth of 3,092.99% in only a year.

If Zilliqa continues to form impressive partnerships and notching exciting developments, the value of the asset will be poised to soar even higher in the coming weeks.

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Zilliqa (ZIL): Recent Developments, Community, Future Events
 

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