Key Takeaways:
- Zilliqa's in-house token ZIL doubled in value over the previous three days
- The rally came in the wake of a partnership with talent awards app Agora
- Collaboration with Ramp payment system further fueled the surge
YEREVAN (CoinChapter.com) – ZIL, the native token of dApp building layer-1 protocol Zilliqa, traded at $0.10 in Monday’s New York session after taking off in an explosive rally and packing 123% in value since Mar. 26. Moreover, the digital asset registered two Golden Crosses on the daily chart.
In detail, ZIL’s 20-day exponential moving average (EMA-20; red wave) crossed above the EMA-50 (orange wave) and the EMA-100 (light blue wave). The Golden Cross signifies a bullish phase ahead as long as the short-term EMA keeps the dominant position.
However, the lowering trading volume could signify a weakening buying pressure. Additionally, the Zilliqa token’s relative strength index (RSI; purple graph) corrected its trajectory after the sharp vertical uptrend and moved sideways, charting through ‘overbought’ territory, and hinting at a possible correction.
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ZIL’s rally came after significant news that the Protocol announced on Mar. 26.
Metapolis partners with Agora
In detail, the Metapolis project is the first Metaverse as a Service (MaaS) that has been announced on the Zilliqa network. The metaverse project will be supported by a real-life early access event in Miami on Apr. 2.
Additionally, the announcement of a partnership with the global talent awards app Agora inspired the investors. Thanks to the partnership, creators will be able to upload content to the Agora app. Then, through community voting, they could have their work added to the Metapolis metaverse. Notably, winners of Agora awards currently receive up to $150,000 in grants.
Sandra Helou, Head of Metaverse and NFTs at Zilliqa, commented on the development, calling the partnership a “forefront of web3 innovation.”
We are excited for this partnership as we are able to bring not only creativity to life within the metaverse but also open borderless access for creatives worldwide to connect in the digital world. The partnership between Agora, Zilliqa, and Metapolis means we are at the forefront of web 3 innovation.
said the executive.
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The Agora partnership sparked the rally, but the Ramp collaboration announcement further fueled it.
Zilliqa and Ramp
Payments infrastructure provider Ramp has partnered with Zilliqa to facilitate “fast, secure, and frictionless” fiat-to-crypto payments of its token, ZIL. According to the announcement on Mar. 28, the Ramp integration allowed potential investors to purchase ZIL in under five minutes on Ramp. Furthermore, they can pull off the purchase using a credit card.
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Moreover, Dr. Ben Livshits, Zilliqa’s CEO, commented that Ramp integration would help attract more people into crypto.
Ramp helps people acquire crypto easily and intuitively, without lengthy or complex KYC processes. This is sure to welcome and onboard more people into the world of crypto, and turn skeptics into active users.
With Zilliqa diving into the world of Web3, this integration is timely. Making ZIL more accessible will play an important role as we take to market game-changing metaverse and NFT platforms like Metapolis and Rialto.
said the CEO.
