- Zilliqa price made a strong recovery as investors bought the dip.
- Developers announced that they will launch Web3War shooter game.
Zilliqa price rebounded on Wednesday as investors bought the dip in both stocks and cryptocurrencies. The ZIL token rose to a high of $0.041, which was slightly above this month’s low of $0.035. Its market cap has risen to about $589 million.
What is Zilliqa and why is it rising?
Zilliqa is a pioneering blockchain project that introduced the important concept known as sharding. Sharding is a technology that improves a network’s throughput by dividing blocks into smaller pieces known as shards. Today, the technology has been embraced by some of the top blockchains like Polkadot, Ethereum, and Elrond.
Zilliqa has been used to build several decentralized projects. The most prominent part of its ecosystem is Metapolis, a metaverse platform that lets people interact with each other in a digital space using avatar NFTs.
Other well-known NFT platforms created in Zilliqa are Access, Beanterra, Duck, and Demons. On the other hand, some of the most popular Decentralised Finance (DeFi) apps in Zilliqa are Autofarm, Carbon, and Mambo.
Zilliqa price is rising after the developers launched their first shooter game in the ecosystem. The game is known as Web3War was launched ahead of the company’s appearance at the European digital games trade fair known as Gamescom.
Learn more about how to buy Zilliqa.
According to the company, the game will be different from other existing blockchain games because of the intuitive design that makes it easy to pick up and play it. Most importantly, it will be a skill-to-earn game instead of a play-to-earn game. Most importantly, it will be available across all platforms. In a statement, Zilliqa’s head of growth said:
"We're on a mission to help gamers adopt crypto and welcome them into the Zilliqa community. Web3War is a game designed to meet the preferences of modern gamers, and also offer them a fresh experience -- by introducing the opportunity to earn rewards as they have fun.”
Zilliqa price prediction
The four-hour chart shows that the ZIL price rose to a high of $0.050 this month and formed a triple-top pattern. It then dropped below its neckline at $0.042 during the recent sell-off. Now, it has bounced back and moved above the 25-day and 50-day moving averages. The Relative Strength Index (RSI) moved above the neutral point.
Therefore, the Zilliqa price will likely continue rising as bulls target the next key resistance level at $0.05, which is about 25% above the current level.
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