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Zilliqa Price Prediction 2024: What Next for ZIL?

Last Updated February 29, 2024 12:37 PM
Peter Henn
Last Updated February 29, 2024 12:37 PM

Key Takeaways

  • Zilliqa launched a partnership with Google Cloud in 2023.
  • ZIL climbed following this news, although it is still worth less than it was in August 2023.
  • Can ZIL continue to go up?
  • One Zilliqa price prediction says it can reach $0.1556 in 2025.

Depending on how one looks at things, the Zilliqa blockchain’s partnership with Google Cloud has either been encouraging or a bit of a damp squib.

The Zilliqa blockchain announced that Google Cloud would help operate the blockchain by running a computer, or node, on September 13 last year. Since then, the price of the ZIL coin has risen, but it still underperformed against the market last year. 

In a statement , Zilliqa CEO Matt Dyer said: “Our strategic alliance with Google Cloud is more than just a technological collaboration; it’s a strategic alignment to further the ambitions of our group of ventures and revenue-generating organizations. 

“Google Cloud’s expertise in infrastructure, combined with their role as a staked seed node partner, underscores our commitment to excellence, both within the Zilliqa Group of companies and across the wider ecosystem. Together, we’re setting the stage for a new wave of innovation and growth in the Web3 space.”

On February 29, 2024, ZIL was worth about $0.0285.

Zilliqa did not immediately respond to a request for comment.

But what is Zilliqa (ZIL)? How does Zilliqa work? Let’s see what we can find out, and also take a look at some of the Zilliqa Price Predictions that were being made as of February 29, 2024.

Zilliqa Coin Price Prediction

Let’s examine some of the Zilliqa price predictions being made on February 29 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.0601 $0.0694 $0.20
Prediction #2 $0.032 $0.1556 $0.3891
Prediction #3 $0.0385 $0.0554 $0.3351

First, CoinCodex  had a short-term Zilliqa price prediction that saw the coin drop to $0.0264 by March 5 before continuing its decline to reach $0.025 by March 30. Despite that, the site’s technical analysis was bullish, with 28 indicators making encouraging signals and just four making bearish ones. 

Zilliqa Price Prediction for 2024

DigitalCoinPrice  said that Zilliqa would reach $0.0601 this year, while CaptainAltCoin  argued ZIL would be worth $0.032 in December. PricePrediction.net , meanwhile, thought the coin would trade at $0.0385 in 2024.

Zilliqa Price Prediction for 2025

DigitalCoinPrice argued that ZIL would reach $0.0694 in 2025. CaptainAltCoin thought it would trade at $0.1556 that year and PricePrediction.net said it would stand at $0.0554 next year.

Zilliqa Price Prediction for 2030

Looking at a more long-term Zilliqa price prediction, DigitalCoinPrice said the coin would reach $0.20 in 2030. CaptainAltCoin’s Zilliqa price forecast had it at $0.3891 that year. PricePrediction.net’s ZIL price prediction said it would trade at $0.3351 at the start of the next decade.  

Google Gemini AI Price Prediction for Zilliqa (as of February 29)

Google’s Gemini AI platform gave the following price prediction for Bitcoin on February 29. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short-term (next few months):

  • Potential decrease: Analysts predict a 3.2% dip due to technical indicators hinting at bearish sentiment despite an “extreme greed” market.
  • High volatility: Short-term predictions are highly susceptible to unexpected events, making them unreliable.

Medium-term (next 1-2 years):

  • Mixed outlook: Some analysts foresee a significant rise to $0.119 by 2026, while others remain cautious.
  • Dependent factors: This timeframe hinges on factors like overall crypto market performance, adoption of Zilliqa’s technology, and potential partnerships or developments.

Long-term (beyond 2 years):

  • Uncertain future: Long-term predictions are highly challenging due to the ever-changing nature of the cryptocurrency landscape.
  • Binance avoids predictions: Recognizing the difficulty, they refrain from making long-term forecasts for ZIL.
  • Long-term success hinges on: Zilliqa’s ability to establish itself as a valuable player in the blockchain space by offering unique solutions and achieving widespread adoption.

It added: “Remember, these are not financial recommendations. Always conduct your own research, consider your risk tolerance and investment goals before making any investment decisions.”

ZIL Price History

Now, let’s examine some of the highlights and lowlights of the Zilliqa price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Zilliqa price prediction.

ZIL first hit the open market in early 2018, trading at around $0.135. With the market about to go through a so-called crypto winter, it fell and, from 2019 spent much of the next two years below $0.01. 

Things changed in 2021, when the crypto market flourished. ZIL hit an all-time high of $0.2563 on May 6 before the market dropped. Zilliqa closed the year at $0.07479. 

In 2022, the market struggled and so did ZIL. The coin, which had traded above $0.15 in early April, dropped below $0.10 as prices fell when the Terra (LUNA) blockchain collapsed in May. Any hopes of a recovery were stymied when the FTX (FTT) exchange declared bankruptcy in November and Zilliqa closed 2022 at $0.01583. This meant it had lost nearly 80% over the course of the year. 

Zilliqa in 2023 and 2024

Zilliqa Price History
Zilliqa underperformed in 2023 | Credit: CoinMarketCap

2023 did not quite see Zilliqa make the recovery some investors will have hoped for. The coin traded above $0.03 in February and hovered around that level, albeit with a fall when the Silvergate bank collapsed in March, for the following two months. A price fall that started in April was exacerbated when the United States Securities and Exchange Commission (SEC) sued the Binance and Coinbase exchanges, causing ZIL to drop to $0.0168 on June 15. 

A recovery took place throughout late June and July, with ZIL trading above $0.02, but the coin fell again in August. The market was stunned by Elon Musk’s SpaceX selling millions of dollars worth of Bitcoin (BTC) and Zilliqa entered a slump which saw it sink to $0.01503 on September 12. By September 25, things had got a little better and ZIL was worth about $0.1675.

ZIL closed 2023 at $0.02478, up more than 55% but still underperforming against the overall market. By February 29 2024, it was worth about $0.0285.

At that time, there were around 17.3 billion ZIL in circulation out of a total supply of 18.7 billion. This gave the coin a market cap of about $493 million, making it the 142nd-largest crypto by that measurement. 

Is Zilliqa a Good Investment?

It is hard to say. On one hand, the recent partnership with Google Cloud is encouraging. Not only does this demonstrate some admirable ambition by the blockchain, it has also seen the price go up.

However, ZIL has underperformed recently.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in ZIL.

Will Zilliqa go up or down?

No one can really tell right now. While the Zilliqa crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Zilliqa?

Before you decide whether or not to invest in Zilliqa, you will have to do your own research, not only on ZIL, but on other, related, coins and tokens such as Ethereum (ETH) or Cardano (ADA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Zilliqa (ZIL) Explained

Researchers from the National University of Singapore founded Zilliqa  in 2017. The blockchain aims to scale well, meaning it can, at least in theory, operate quickly and smoothly, even when there is a lot of traffic. 

Zilliqa is supported by its native coin, Zilling. However, the crypto is usually better known either as Zilliqa or by its ticker handle, ZIL.

How Zilliqa Works

Zilliqa blends proof-of-work (PoW) and practical Byzantine fault tolerance (PBFT) consensus mechanisms. Zilliqa claims that its network employs PoW for security and PBFT for faster shard consensus, fair miner rewards, and lower energy usage.

Talking of shards, these are small consensus groups within a blockchain. Zilliqa claims to be the first public blockchain to utilise sharding. 

ZIL itself pays for transactions on the network. Holders can run smart contracts, computer programs which automatically execute once certain conditions are met, on Zilliqa. People can buy, sell, and trade it on exchanges. 

Zilliqa Attention Tracker

Zilliqa Google Search Volume
Zilliqa Google search volume | Credit: Google

Here is a chart for the Zilliqa Google search volume for the past 90 days. This represents how many times the term “Zilliqa” has been Googled over the previous 90 days.

FAQs 

How many Zilliqa are there?

On February 29, 2024, there were around 17.3 billion ZIL in circulation out of a total supply of 18.7 billion.

Will Zilliqa reach $0.10?

It could do at some point in the future. CaptainAltCoin says it will get there by 2025, while DigitalCoinPrice and PricePrediction.net say investors will have to wait until 2027.

Zilliqa has not traded above $0.10 since April 2022.

What is Zilliqa used for?

ZIL pays for transactions on the Zilliqa blockchain. People can also buy, sell, and trade it on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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