The lowest levels of Bitcoin (BTC) this year were witnessed on the 29th of June. The entire Crypto market also came to its knees on this date with the total market capitalization reaching new lows of $232 Billion. These levels have been rejuvenated and are currently at $273 Billion at the moment of writing this. BTC has also gathered some steam since then and is trading at $6,808.
A good picture of how much the markets have fallen in the last six months is the fact that BTC was valued at $20,000 last December and the total market capitalization of the crypto markets, stood at $832 Billion in early January.
The reason for this brief reminder of the past crypto market performance is to highlight that Zilliqa (ZIL) is also at its most recent lows. This is the first reason to get some ZIL right now. These lows will not be around for much longer as the project continues down the second half of 2018. The token had new lows also on June 29th when it was trading at $0.060. ZIL is still undervalued at current levels of $0.080. Past performance of the token has seen it reach levels of $0.23 back in early May. This means it is only a matter of time before a similarly stellar performance of the token in the crypto markets due to the second reason below.
A second reason to get ZIL right now is the current progress showcased by the project. The team has redesigned the Zilliqa website as well as launching the second version of the TestNet that allows developers to test out the Scilla programming language. The new Testnet can currently handle 2,828 transactions per second, which is considerably higher than the transaction capability of the Tron Mainnet Network that can only handle 2,00 tps. This means once the Zilliqa MainNet is launched, it stands to have a chance at edging out TRON as the preferred platform for decentralized apps and smart contracts.
This high throughput evident on the Zilliqa platform is ideal for DApps in gaming, entertainment, digital advertising as well as finance. These are the 3 key industries for emerging applications and technologies on the blockchain.
The current roadmap indicates that the MainNet will be released in the third quarter of 2018. We are currently in the 3rd quarter which runs up until the end of September. Anything can happen between now and then including the much-anticipated crypto market recovery and a Bitcoin bull run brought about by new money from the institutional investors that want a piece of the action in the crypto markets.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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