Zilliqa Becomes Latest Cryptocurrency to pass $1 Billion Market Cap

Zilliqa Becomes Latest Cryptocurrency to pass $1 Billion Market Cap

Zilliqa (ZIL) has joined the league of cryptocurrencies with over a billion dollars market capitalization.

Information for CoinMarketCap shows that Ziliiqa which moved pass the $1 billion mark in market cap is currently at $1.3 billion. This places it at no. 23 in the list of most valuable cryptocurrencies.

Zilliqa announced Tuesday that it has been listed on another major exchange, OKEx, which according to data from CoinMarketCap is the third biggest cryptocurrency exchange by trade volume. Following the tweet, traders can trade the coin on OKEx, Binance, Coinspot, Huobi and other cryptocurrency exchanges.

The Zilliqa Project

Zilliqa is a Singapore-based project that claims to be a secure, scalable blockchain platform. Last year, the team released its whitepaper focused on solving the problem of scalability that plagues the blockchain networks. Through an emphasis on sharding technology and high throughput, the Zilliqa team hopes to achieve higher transaction rates and establish Proof of Work as the authorizing security instead of a consensus approach in public blockchain.

Massive gains for ZIL in April 2018

The value of Zilliqa (ZIL) coin grew remarkably from $0.042 USD in April to $0.132 USD amidst several corrections. As the time of writing, the coin is worth $0.184 and looks set to keep rising; already a good investment for ICO participants who got the coin at 0.0038 USD. There’s a lot of activity going on with trade volume of $390 million USD in the last 24 hours.

The success of Zilliqa can be attributed in part to its listings on major exchanges and strategic partnerships it the team made along the way. Partnerships with Global Brain Blockchain labs, Kyber Network, Genaro Network and an Insurance Industry partnership in April seem to be serving the project well.

Compared to other projects launched about the same time, Zilliqa has fared well especially in the past month. It’s left to be seen how regulatory changes and other factors affects its growth and how it fares in the coming months.

Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.


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