A lot of people are surprised to see most of the cryptocurrencies are still in the green as of right now. Considering how yesterday evening looked rather uneasy, the positive momentum remains in place, for the time being. None of the top coins have noticed any major gains, yet the Zilliqa price is definitely rising rather rapidly these days.
Zilliqa Price is on Fire
Although most cryptocurrency speculators hardly ever look beyond the top 15, there is some interesting momentum building further down the line. Considering how the Zilliqa price currently sits at $0.088, it is one of the only currencies on the market today which is slowly inching toward its previous all-time high again. Said all-time high was recorded in late May and pushed the Zilliqa price to $0.1946.
Thanks to another 10.72% gain in the past 24 hours, the puzzle pieces are falling into place for Zilliqa right now. While it remains unclear what is driving this Zilliqa price trend exactly, the currency has seen a 33% increase in value over the past week. Maintaining this strong uptrend will be pretty difficult, given the current market conditions. However, the current progress cannot be denied, and the coin is making some strides whereas other currencies are not moving all that much.
As one would expect from such a Zilliqa price increase, there are gains over both Bitcoin and Ethereum. ZIL gained 9.04% over Bitcoin in the past 24 hours, whereas the ZIL/ETH ratio improved by 8.86% in the same timespan. If this trend continues, it is not unlikely the Zilliqa price will it $0.1 in the coming hours and days. That will heavily depend on how long both Bitcoin and Ethereum can remain in the green, though.
Albeit the overall cryptocurrency trading volume has increased over the past few days, Zilliqa’s volume remains relatively low. With just $73.76m in 24-hour trading, there isn’t anything special to be excited about in this regard. Even so, it appears this trading volume is more than sufficient to keep the Zilliqa price trend going for some time to come.
It appears the vast majority of the trading volume originates from the Upbit platform right now. Binance’s BTC pair is not too far behind, and Huobi’s USDT market completes the top three. Further down the lines, there’s Binance’s ETH pair and BitForex’s USDT offering. One fiat currency in the top five isn’t exactly impressive, although it seems more than sufficient for ZIL at this time.
As is always the case in the cryptocurrency world, maintaining momentum will remain a key challenge first and foremost. For the Zilliqa price, the current momentum is rather appealing, albeit there is no guarantee the current trend will remain in place for much longer. It is still possible a value of $0.1 will be reached fairly soon, assuming the profit taking will be kept to a minimum first and foremost.