Key Takeaways:
- Nautilus Chain Mainnet launched on Aug 19.
- Zebec’s ZBC coin benefits, jumping 8%.
- Another 37% rally could be possible due to bullish technicals.
YEREVAN (CoinChapter.com) — Solana-based Nautilus Chain launched its Mainnet on Aug 19, claiming they are ready to host the development of decentralized applications (dapps) on their so-called layer-3, or L3, blockchain.
The L3 concept is originally proposed by Vitalik Butering for his Ethereum project, a Solana rival.
During the initial launch of its mainnet, on-chain apps and native infrastructure such as cross-chain bridges are still in the deployment phase. To ensure the security of user assets and provide a better trading experience, Nautilus Chain is currently in the phase of […]conducting stability-related testing.
read the announcement.
Moreover, the Nautilus Chain Mainnet launch will facilitate high-throughput payment applications, like payroll, invoicing, and merchant services.
ZBC Coin Price Jumps After Nautilus Chain Mainnet Launch
Nautilus Chain uses Zebec Protocol’s ZBC coin as its native token, given the latter is its incubator.
The ZBC coin features a deflationary token model with a 10 billion total supply cap. According to the announcement, Nautilus will also burn some of the gas fees it generates to increase deflationary pressure.
The proposal has sat well among crypto traders, who are otherwise reeling under the pressure of an underperforming crypto market. For instance, the ZBC Coin has rallied over 17% since the Nautilus Chain Mainnet launch, accompanying a rise in trading volumes.
That underscores a strong buying sentiment in the market, devoid of price manipulation.
While the “overbought” RSI does indicate a possible stall, the rising trading volumes testify to a bullish continuation in the coming sessions. Moreover, the ZBC coin has been range-bound for a year.
Thus, if the bullish streak continues, the likely target would stand at $0.017, or over 37% higher than the current value. The 200-day exponential moving average (EMA-200; blue wave) could provide additional support for the ZBC token if it closes the session above the blue wave.
Conversely, an overbought pullback scenario could have the price test its 100-day ($0.0112) and 50-day EMAs ($0.124) as support.
