Zilliqa (ZIL) Pumps 10% as Facebook Crypto Rumours Filter Through

Zilliqa (ZIL) may have just felt the benefits of a rather weighty rumour that’s been floating around on Twitter in the last twenty-four hours. Namely, that Facebook is lining up Zilliqa as a possible blockchain solution for the cryptocurrency that the social media giant intends to launch.

The rumour remains speculative at this point, but given ZIL’s 10.9% surge leading into Sunday it appears as though some have seen fit to put their money behind it.

Facebook & Zilliqa

According to cryptocurrency advisor and blockchain enthusiast, Oliver Bell, he caught wind of a rumour that suggested Facebook was basing its crypto operations on Zilliqa. Bell tweeted:

“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…”

It should be noted immediately that Bell describes himself as an ‘Avid ZIL supporter’, so take his words with as much salt as is necessary. That said, everything he notes is accurate, and speculation regarding the possible Facebook-Zilliqa-Mindshare trifecta have been going on for months, ever since Mindshare launched its pilot program on the Zilliqa blockchain.

Bell reminded everyone that it was just a rumour, but he did go on to elaborate:

“All I’m saying is.. makes perfect sense. A lot of unanswered questions right now. Why did Coinbase list ZIL before main net? Why has ledger added ZIL support.. a lot of the big players picking up on ZIL. but why? Exciting times ahead I hope.”

Zilliqa was recently added to Coinbase Pro along with Maker (MKR), Dai (DAI) and Golem (GNT). The coin price of ZIL went on a fruitful 14% run at the time of the listing, and excluding some intermittent dips, the coin price continued to surge over the week, eventually growing 39% in value since Wednesday, December 19th.

Zilliqa Price – ZIL/USD

From the daily low of $0.017547, ZIL went on a 10.9% run that carried the token price to $0.019460. That run was achieved on declining volume, as overall trades declined to $9 million from $19 million earlier in the week.

Despite recent gains, ZIL is still down 91.5% since its ATH back in May, and has only recently recovered from an all-time low in the $0.012 range.

More on Zilliqa’s features can be read in this Hacked spotlight article on the project, which explores the blockchain’s speed, security and scalability, as well as past partnerships and technological quirks.

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.

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