Zilliqa Rejects Facebook Rumours; ZIL/USD On the Move Ahead of Mainnet Launch

The Zilliqa team have flatly rejected recent rumours regarding a collaboration with Facebook. Crypto-twitter was recently set aflurry with anticipation when one user pointed out a string of correlations between Zilliqa and Facebook, but now those correlations seem to be no more than coincidences.

Meanwhile, the momentum which carried ZIL to 31% growth on Christmas eve hasn’t slowed down. The token surged to 22% gains leading into Saturday morning as attention now turns to the upcoming mainnet launch which will see Zilliqa depart Ethereum for its own blockchain.

Facebook-Zilliqa Rumours

Last week the following tweet detailed how the stars seemed to be aligning for Facebook to use Zilliqa to launch its recently announced stablecoin.
“Rumour going around regarding Facebook building on ZIL:

 

  • Evan Cheng: Zilliqa advisor & head of blockchain at FB
  • Mindshare partnership: FB is a partner of Mindshare
  • Ex-Facebook head of blockchain quits Coinbase to avoid conflict of interest: ZIL gets listed on Coinbase…”

The rumour was given room to circulate before the Zilliqa team eventually quashed it, stating in a recent tweet:

“We have been made aware of a rumour that has been circulating on a potential collaboration with Facebook. This is a baseless rumour and we would like to ask everyone to refrain from sharing fake information on social media.”

Facebook continues to develop plans for a dollar-pegged stablecoin which is expected to be part of a new money transfer system in the WhatsApp mobile messenger.

Zilliqa Mainnet Imminent

A roadmap update published in August set a December-January deadline for the mainnet move, and all signs suggest everything is on schedule for the first month of 2019.

The final v3 update to the existing testnet chain was implemented in early December. Zilliqa describe their own testnet as:

“.. the first fully-fledged testnet in the world to implement network, transaction, and smart contract sharding …”

For more info on Zilliqa check out the recent community update, or my Why Investors Should Pay Attention to Zilliqa article here on Hacked.

Zilliqa Price – ZIL/USD

A recent addition to Coinbase Pro saw a 14% price boost for ZIL in mid-December. Another 10% boost occurred when the now debunked Facebook rumour landed. Now, ZIL continues to climb with another 22% boost leading into Saturday morning.

From a daily low of $0.017116, the value of ZIL rose to $0.020926 in just over twelve hours. Momentum was sustained leading into the afternoon as trade volume continued to rise above the 162% increase recorded at time of writing.

Of the $16.8 million daily trades, over one fifth comes from the ZIL/KRW pair, while the rest is dominated by BTC and USDT, with Binance processing the highest concentration of action.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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.