ZILLIQA and $ZIL are ready to moon! Wave 5 underway!!!NOT FINANCIAL ADVICE
Circa 2015, a team from NUS (National University of Singapore) brainstormed and produced a thesis dubbed 'Elastico' while trying to solve the blockchain trilemma.
The team have since gone on to launch a string of successful crypto projects such as Kyber Network, SmartPool, Anquan Capital and of course, Zilliqa Research.
Blessed with a successful 2017 ICO, Zilliqa Research kickstarted development in 2018 and eventually launched crypto's first-ever public blockchain protocol with sharding technology in 2019.
Sharding? Yep, the same technology that Ethereum 2.0 is still trying to achieve.
During 2020's DeFi summer, the allure of staking proved too great to resist as Zilliqa adopted the technology, not from a consensus standpoint, but rather as an incentive to reward seed node's efforts in maintaining the protocol's traffic.
With staking rewards, $ZIL saw its first drive of adoption as dynamic staking rewards briefly saw 46% APR.
Adoption took a further uptick in 2021 as an additional staking reward in the form of a governance token, $gZIL (no longer mintable) was then announced.
A protracted ZIL-ETH bridge (Poly Network, developed in partnership with Switcheo) also arrived during this difficult period as The Great Migration brought out the bears aplenty.
As 2022 comes into vision, we can see price slowly recovering -- a Primary Wave 3 underway with a Target Price between $0.46 (1.618 fib extension) to $0.60 (1.618 fib multiplier).
We see that $ZIL managed to break out of May 2021 trendline's resistance and find support on Sep 2021's trendline:
Happy trading~
