Zilliqa Price Up 16% For the Day on Korea Influence

ZIL tokens are currently 16% more valuable than they were yesterday, and over 65% more valuable than this time two weeks ago.

From a starting price of $0.079 earlier this morning, ZIL tokens surged to a value of $0.092. That price has levelled out in the last couple of hours to $0.089, but that still marks a 12% rise at the time of writing.

Going back to June 24th, ZIL was worth a mere $0.057. Fast forward just under two weeks and today’s peak of $0.092 marks a 65% growth for Zilliqa – all achieved in the last twelve days alone.

The month of June has been a tale of two halves – a peak of $0.137 at the start of the month fell nearly 60% towards the end. But the last week in June started to look better for ZIL, with the steady growth being witnessed now carrying through into July.

It comes at an apt time for Zilliqa, who recently launched the second version of their testnet. Zilliqa has been climbing the rankings in recent weeks, and its market movements are beginning to resemble those of Tron’s recent rise.

Korea’s Influence

Over $103 million worth of ZIL/KRW trades took place on Bithumb today, but have been excluded from the market cap calculations due to having no trading fees. That sum amounts to almost 150% of Zilliqa’s actual daily volume at this time, which stands at around $76 milion.

Yet South Korea can still take a lot of credit for Zilliqa’s current market position, with over 34% of the daily trades coming against KRW (South Korean Won). The majority of the trades have taken place on Upbit, the Korean coin-to-coin exchange which is partnered with Bittrex, making up 27% of the trades. The Coinone and GOPAX exchanges make up the rest of the KRW trades.

The next highest portion of trades come against BTC on Binance, with around 24%, followed by the USDT pairing on Huobi. But were it not for the Korean influence, Zilliqa would probably not be as high as its 24th place market cap rankings.

The Gaming Industry

Zilliqa recently announced a partnership with Emont Alliance, a blockchain game developer which develops games on the Ethereum network. Emont Alliance are behind such recently launched games as EMONT Frenzy, and MyEtheremon – a blockchain monster-battle game which takes its influence from the likes of Pokemon.

The ZIL team took to twitter to announce the partnership to their almost 50,000 followers, saying:

“Decentralised games require frequent transactions and both teams hope that the higher-throughput and lower gas costs on Zilliqa will bring about a better gaming experience for game players. We look forward to working closely with @EMONTAlliance and sharing our progress.”

The reference to gas prices may be at the core of Emont Alliance’s decision to seek more fruitful tech opportunities, after the Ethereum network became congested recently and saw gas prices take a spike upwards.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.