Zilliqa (ZIL) Price Pump May Start Altcoins Season, Analyst Michael van de Poppe

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Sat, 06/06/2020 - 15:41
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Vladislav Sopov
The native asset of Zilliqa’s high-tech project, ZIL, demonstrated the most impressive bullish rally of this turbulent year. Why it is important for every altcoin trader?
Zilliqa (ZIL) Price Pump May Start Altcoins Season, Analyst Michael van de Poppe
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Dutch cryptocurrencies analyst and trader Michael van de Poppe (@CryptoMichNL) explained why Zilliqa's splendid run is significant for the altcoins trader and what we can learn from it.

Ten Months for Accumulation

According to Mr. van de Poppe, Zilliqa (ZIL) can be studied as a textbook example of 'what accumulation and momentum can do with coin'. He is sure that the 10-month accumulation period with a plethora of lucrative 'buy' opportunities was ignored by the community.

Zilliqa 10-months periodof accumulation indicated by Crypto Michael
Image by Twitter

When the price started its splendid growth, public interest in buying ZIL evolved rapidly. As a result, the vast majority of Zilliqa (ZIL) token holders bought the token overpriced.

This situation is not unique for the modern altcoins market. Mr. van de Poppe admits that several other coins may pump to follow Zilliqa (ZIL).

So, the traders should search for better opportunities to buy altcoins before they becomes overhyped.

Rally Must Go On

Even for Zilliqa (ZIL), the bullish run for the altcoin may be nowhere near its end. According to Mr. van de Poppe's posted chart tweet, ZIL's performance looks amazing.

ZIL peroformance looks amazing for seasoned trader
Image via Twitter

Mr. van de Poppe particularly emphasized the zone between 158 and 165 satoshis as the crucial resistance level. The fact that the price of ZIL would break above this level comfortably would act as a good indicator of continued growth.

Zilliqa (ZIL) is a project of researchers from National University of Singapore. It built a high-speed and extremely secure blockchain, which was in mainnet in 2019.

Zilliqa (ZIL) was among the first protocols to implement sharding. This feature allows this blockchain to be extremely scalable.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)