In the midst of the downtrend that suppressed several coin pricesincluding Bitcoin, the Zilliqa token emerged among the winners. zilliqa It secured the top spot among the highest-gaining coins in the cryptocurrency bear market with a 9% uptrend over the past 24 hours.
This price movement follows the performance statistics of a network. update shared by a member of the Twitter community @inna_everstake. According to statistics, Zilliqa reached a new milestone in network addresses and daily transactions.
Zilliqa reaches a milestone in network activity
Zilliqa is a public permissionless blockchain that offers high transaction throughput. Their goal is to improve the scalability and speed of the blockchain by using sharding as a Layer 2 scaling solution.
The Zilliqa network relies on shards to solve scalability problems. Each shard processes transactions independently. The number of transactions increases as the Zilliqa network grows and the number of shards increases.
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the recent network performance statistics suggest that the Zilliqa network is growing rapidly and has gained more traction. According to the update, Zilliqa registered 4,582,116 addresses with 47,937,935 transactions and more than 5.5 billion ZIL tokens staked.
The statistics are incredible, given Zilliqa’s position in the cryptocurrency market compared to other smart contract platforms such as Cardano, Ethereum, and Solana. Another noteworthy fact is that the total number of registered addresses participate in daily active transactions.
Zilliqa’s improved performance could be due to the increasing number of new developers coming to build on the network. The Zilliqa ecosystem has been active in running innovative programs that attract new Web3 developers, which is why network addresses and transactions skyrocketed.
ZIL Price Outlook Amid Increase in Network Performance
Zilliqa is among the coins with the most dynamic price movement this year. Zilliqa opened in 2023 at $0.01585, but gradually recovered to its current price of $0.0331a notable increase amid slight setbacks.
ZIL price grows on the l ZILUSDT chart on Tradingview.com
Although ZIL is still 87.33% below its all-time high price of $0.2563, recorded on May 6, 2021, it has improved considerably since 2020.
ZIL price is 1210% higher than its all-time low of $0.002477 on March 13, 2020. At press time, ZIL is trading at $0.331, a 9% price increase from the closing price of the April 20, $0.03015.
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Even ZIL’s trading volume has increased by more than 38%, from $116.69 million on April 20 to $190.71 million today, April 21. That could be further confirmation of increased network activity.
ZIL also recorded almost 11% price gain during the last seven days when currencies such as Bitcoin and Ethereal they gave up theirs. The token now has a price increase of more than 12% in the last two weeks.
From the technical perspectiveZIL market sentiment is bullish, with oscillators and moving averages signaling a strong buy signal.
Featured image from Pixabay and graphic from Tradingview
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