Zilliqa break-out: $ZIL outperforms Bitcoin by 18%

04 Jun, 2019
Analysis
Zilliqa break-out: $ZIL outperforms Bitcoin by 18%

Zilliqa managed to hold onto earlier gains on Tuesday, following a massive drop in Bitcoin price, which saw majority of the market in red on the day.

Zilliqa recently announced that smart contracts will be enabled on June 10, the news which was shared earlier in May, saw Zilliqa break out of resistance during the same time Bitcoin was being dumped in a massive 7% price decline. 

ZIL saw a  10% USD gain on Tuesday, making it one of a handful of coins to see green in a massive red day for most of the top 100. Bitcoin slumped roughly 10% over the past 24 hours, causing the market capitalization to drop $20 billion over the past 10 hours. ZIL saw nearly 20% gain on the BTC thanks to the BTC price drop.

ZIL/BTC Chart provided by Tradingview 

Zilliqa will be enabling smart contracts from June 10, a move that will see the project offering customers the opportunity to build on the Zilliqa blockchain. Zilliqa looks to continue growing their smart contracts platform and interest has definitely picked up over the past few days, as the project was the highest gainer on Binance with a 20.59% price increase over the past 24 hours.

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Read more about: Zilliqa (ZIL)

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