- Zilliqa to become a top 50 coin as its market cap rises
- Zilliqa’s stock has been rising since the March 12 crash
- The coin’s value has increased by a factor of 5.95x since March 12
Zilliqa News Today – members of the Zilliqa community are betting on ZIL becoming one of the top 50 coins soon. At press time, ZIL was ranked number 53 on CoinMarketCap after it gained an impressive 8.36% over the last 24-hours. ZIL’s value and market cap have been on the rise these past few weeks since the mid-March cryptocurrency price crash.
Since then Zilliqa has risen in value. It has also improved its rankings on CoinMarketCap. Seven days go, it was reported that ZIL had risen by a factor of 4.311x since March 12 crash. Now, the charts show that ZIL is valued at $0.0134. Let us see more about how ZIL managed this feat.
Zilliqa Rises to Number 53 on CoinMarketCap
According to CoinMarketCap, ZIL is currently number 53 with only $9.46 million of its market cap left for it to enter the top 50. This means if the price of ZIL must rise on the cryptocurrency list, the coin would have to stay in a particular value range (it must be valued at $0.01433). It is this recent price action that is making the Zilliqa community believe that the time is right for the coin to enter the top 50 on CoinMarketCap.
Additionally, the Vice President of Ecosystem Growth at Zilliqa, Han Wen, predicted that the digital asset will soon be ranked number 50 before the end of May. Hence, ZIL has to be valued at $0.01433 at least by the end of this month. The optimism around Zilliqa and its community for the coin to achieve the above milestone can be observed in a Tweet quoting Wen’s prediction for the ZIL.
Zilliqa Continues its Journey in Bullish Territory
Zilliqa is in a bullish region according to the daily chart. We can see that the coins’ trade volume is also in the green which is an indication of more interest in buying. The ZIP price is currently above the 200-day, 100-day, and 50-day, moving averages which further makes a case of a bullish future for the coin. However, if the trade volume decreases, it will be an indication of a pullback. MFI is high at 72 which is further pointing to a cool down Zilliqa chart.
A chance of buying exhaustion for Zilliqa could result in a pullback for the coin. When you consider the fact that the overall crypto market is in the green, the price of ZIL might pull off an upward move which should take it to the top 50 on CoinMarketCap as we enter June.